AXS staking rewards on the horizon: What lies ahead for AXS and stakers

•  AXS staking rewards are set to be unlocked in July, price over $23 million.
• Over 43% of AXS tokens have been staked, contributing to a thriving staking market cap.

Because the Axie Infinity [AXS] ecosystem continued its development, the introduction of AXS staking bestowed even higher energy upon its devoted lovers.

This empowering function enabled them to take an energetic position in shaping the platform’s future whereas reaping the rewards for his or her participation.

With the extremely anticipated AXS unlock occasion on the horizon, set to happen within the second quarter of this yr, the query arises: what awaits the stakers relating to rewards?

Learn Axie Infinity (AXS) Worth Prediction 2023-24

AXS staking rewards set to be unlocked

Based mostly on the newest knowledge per Token Unlocks, the subsequent occasion within the AXS ecosystem would contain the distribution of AXS staking rewards.

In keeping with info supplied by the platform, this occasion was scheduled to happen on 22 July. It will unlock 1.266% of the availability, which equated to greater than 3.4 million AXS tokens with a staggering worth of over $23 million.

This unlock occasion was particularly important, as all of the unlocked tokens could be designated for AXS staking rewards.

Supply: Token Unlocks

Moreover, the info additionally indicated that over 22% remained locked. This amounted to round 59 million AXS tokens, with a present worth exceeding $400 million.

The present state of AXS staking

In keeping with the newest insights from Staking Rewards, the share of AXS tokens which were staked surpassed a formidable 43% on the time of writing. This substantial staking exercise has contributed to a thriving staking market cap, which at the moment exceeds $272 million.

It’s price noting that this determine represented a good portion of the general market cap, which stood at a formidable $790 million.

Furthermore, per the AXS staking dashboard, the entire quantity of AXS tokens staked reached 49.7 million, valued at roughly $339.68 million. In the meantime, the circulating provide of AXS tokens at the moment stood at over 98.8 million.

Moreover, a more in-depth take a look at the AXS staking contract circulation on Nansen, confirmed that there have been extra deposits than withdrawals. The information revealed that the AXS staking Netflow was constantly within the constructive zone over the previous few days.

The present Netflow stood at over 1,400, on the time of writing. These figures indicated that extra members have been staking their AXS tokens somewhat than withdrawing them from the ecosystem.

Moreover, the info supplied by Nansen additionally confirmed the entire worth of staked AXS tokens. In keeping with the chart, the worth of staked AXS tokens had now surpassed the $300 million mark. The information carefully correlated with the worth of over $339 million reported on the AXS staking dashboard.

Ronin permits staked AXS lending and borrowing

In March, Ronin made an thrilling announcement that AXS  joined the ever-expanding assortment of DeFi instruments accessible to Ronin pockets holders. This growth offered AXS earners with a brand new possibility.

As a substitute of instantly promoting their acquired tokens, they now had the selection to retain and stake them. The creators behind this initiative expressed their intention to deepen the combination of the sport into the thriving DeFi ecosystem.

In keeping with knowledge from the AXS staking dashboard, the present each day staking rewards stood at over 50,000. Nonetheless, as outlined within the venture’s whitepaper, it was price noting that the month-to-month staking rewards have been set to expertise a gradual discount in 2025.

For instance, again in June 2022, the staking rewards have been already lowered from 2,000,000 AXS tokens monthly to 1,566,000.

AXS on a each day timeframe

Regardless of the growing reputation of AXS staking, the worth of AXS tokens lately encountered some challenges. Observing the each day timeframe chart, it grew to become evident that the worth was at the moment experiencing a downtrend.

Regardless of small makes an attempt to achieve over 1% within the final two days, it was buying and selling at a loss as of this writing. Its present buying and selling worth hovered round $6.8, reflecting a decline of almost 2%.

Supply: TradingView

After a formidable value pattern noticed in January, AXS was retracing again to the worth vary from which it initially took off. As of this writing, it was discovering assist round 30 on the Relative Energy Index (RSI). An additional value drop may push it into the oversold area, indicating a possible shopping for alternative for merchants.

Axie Infinity assortment dominates NFT metrics

Based mostly on knowledge supplied by Crypto Slam, the Axie Infinity assortment continued to keep up its dominance in key metrics. That is regardless of newer collections coming into the market.

At the time of this writing, the entire gross sales generated by the Axie Infinity assortment surpassed $4.2 billion. Additionally, greater than 18 million transactions have been recorded.

Moreover, the variety of sellers and consumers throughout the Axie Infinity ecosystem exceeded 1.8 million and 1.3 million, respectively. Moreover, the variety of homeowners surpassed the two million mark as properly.

Is your portfolio inexperienced? Take a look at the Axie Infinity Revenue Calculator

Contemplating the upcoming AXS staking rewards unlock occasion, it remained unsure what influence it could have on the worth of AXS. Nonetheless, ought to stakers select to unload all their rewards? Properly, it’s simply over 1% of the entire circulating provide.

This supplies perspective on the size of the unlock occasion with the broader market. It additionally advised that the unlock speedy impact on the general worth of AXS could also be restricted.