According to Buddhists the building of the stupa was foretold by the Buddha: The same story is repeated in a Khotanese scroll found at Dunhuang, which first described how Kanishka would arrive 400 years after the death of the Buddha. The account also describes how Kanishka came to raise his stupa:
First stupa (150 CE)
The original Kushan stone stupa was probably built after the death of Kanishka the Great, between 150 and 300 CE, but probably circa 151 CE, with a shape similar to the contemporary Loriyan Tangai stupas and the addition of schist reliefs.
Second stupa (4th century CE)
The stupa was rebuilt under Kushan rule in the 4th century CE into a cruciform stupa with a tower-like structure, with four staircases and four corner bastions, and possibly pillars at each corner. The stupa's symmetrically cross-shaped plinth measured, though the plinth had large staircases at each of the stupa's sides. In total, the base of the stupa may have spanned on each side. The plinth was likely decorated with sculpted reliefs, while niches built into the dome's four cardinal points was inlayed with precious stone. The tall wooden superstructure was built atop a decorated stone base, and crowned with a 13-layer copper-gilded chatra. Modern estimations suggest that the stupa had a height of.
Reconstruction
The stupa's wooden superstructure was rebuilt atop the stone base, and crowned with a 13-layer copper-gilded chatra. In the 5th century CE, stucco imagery was probably added to the site, in keeping with contemporary popularity for Buddhist imagery.
Destruction
noted in the early 6th century that the tower had been struck by lightning at least three times, having been rebuilt after each strike. The tall stupa with a copper top acted as a lightning rod. This propensity to attract lightning strikes may explain the dearth of any surviving examples of wooden-tower stupas.
Excavations
The stupa was discovered and excavated in 1908–1909 by a British archaeological mission under David Brainard Spooner, and led to the discovery in its base of the Kanishka casket, a six-sided rock crystalreliquary containing three small fragments of bone, relics of the Buddha (which were transferred to Mandalay, Burma and a dedication in Kharoshthi involving Kanishka.
Contemporary accounts
In the 400s CE, the Chinese BuddhistpilgrimFaxian visited the structure and described it as "the highest of all the towers" in the "terrestrial world", which ancient travelers claimed was up to tall, though modern estimates suggest a height of. In 520 CE, Sung Yun describes the stupa in the following terms:
Legacy
The stupa is believed to have influence later constructions of "tower stupas" throughout ancient Turkistan. The construction of wooden towers topped with metal chatras made such buildings act as lightning rods, which could explain why such towers have all but disappeared.
Current status
The site has not been preserved. The location was re-identified in 2011. It is located outside the Gunj Gate of the old Walled City of Peshawar and is called Akhunabad.