Explore governance staking of $MINE over time

This post compares $MINE staking trends to $LUNA staking, and also discusses which coins have been unstaked from staking.

About Staking

Staking : The stake is a mechanism allowing participants to keep cryptocurrency funds in a wallet and thus support the blockchain’s functionality.Stakeholders lock their tokens in their wallets.In return, they receive rewards from the network.

How does it works? : To stake a token on a network, you must buy a certain number of tokens. You can only stake tokens on networks that use the PoS protocol.A staking transaction can be performed in a few minutes by following your wallet’s instructions after the purchase has been completed. If you have already purchased your holdings, you now need to lock them by following the procedure specified by the developers.

Staking pools have been introduced by cryptocurrency exchanges to make the process of staking tokens easier.Users can also stake tokens and withdraw them at any point during a specific period – known as fixed staking. Some providers are also offering flexible staking where users can withdraw their tokens at any time.

Benefits :This technology generates passive income, is less energy intensive than mining, and provides high security.

Stake and Unstake of $MINE Amount and Transactions

How the $MINE transactions have been in the past 4 months and what is the amount flow of $MINE stakes and unstakes. From July 2, 2021 to November 10, 2021, the total MINE amount was $3.54B.Among the 2 operations, Stake contributes the most (54.15%) to the Total MINE Amount.According to the Total MINE Amount Report, the lowest Total MINE Amount is $1.62B (Unstake) and the highest Total MINE Amount is $1.92B (Stake).A maximum Total MINE Amount of $200.15M and a minimum Total MINE Amount of $610.99K were observed on July 26 and July 11, 2021, respectively. The MINE Amount for September 15, 2021 and July 27, 2021 is lower than normal, and it is higher than normal for July 26, 2021 and October 1, 2021.

In the period of July 2, 2021 to November 10, 2021, the total stake and unstake transactions were 131.47K.Out of the 2 operations, Operation Stake contributes the most (77.25%) to the Total Transactions.The maximum number of total transactions was 4031 on August 22, 2021 and the minimum number of transactions was 146 on September 30, 2021.July 3, 2021 and August 23, 2021 had lower total transactions than normal, but July 26, 2021 and October 6, 2021 had higher total transactions than normal.

As we compare the stake and unstake operations for the month, the unstake operations are more than stake operations.

According to the graph below, there were 117.4k wallets between July 2, 2021 and November 10, 2021.Out of the 2 operations, Operation Stake contributes the most to Total Wallets (77.22%).Maximum Total Wallets of 3,171 were observed on August 22, 2021, and minimum Total Wallets of 138 occurred on September 30, 2021.In July 3, 2021 and August 23, 2021, total wallets were lower than normal, and in October 1, 2021 and October 6, 2021, they were higher than normal.

Observations

From the above analysis,

  • In the same day, July 26th, 2021, we can see the staking amount is greater than the unstaking amount, as well as the amount of $MINE staked.
  • On Oct6,2021, we saw a higher number of $MINE stake transactions. However, there was not much $MINE stake amount found for the day.
  • Even though we saw more unstaked $MINE transactions in Aug22,2021, there wasn’t much unstaked $MINE amount.
  • According to the above analysis, both $MINE amount and transactions are independent.

Leave a Reply