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Bitcoin Supply Dwindles: Exchange Reserves Hit New Low Amid Market Rally

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Epic Bitcoin Prediction from Bitcoin Veteran Erik Voorhees Erik Voorhees, CEO of ShapeShift and founder of the Venice.AI project, recently addressed the cryptocurrency community, hinting at a significant surge in Bitcoin's future performance, including a potential rise in price. Voorhees emphasized Bitcoin's distinctive feature: its finite supply, which he believes positions it as a key asset, especially as demand for BTC continues to rise quickly. Voorhees’ Vision: Bitcoin Surpassing Major Assets: An early Bitcoin adopter and advocate, Voorhees shared his vision on social media, suggesting that Bitcoin could outpace key assets like the U.S. dollar, oil, and gold. He highlighted that while these assets have extensive reserves or can be produced on demand—whether it’s new deposits of oil and gold or freshly printed dollars—Bitcoin’s fixed supply of 21 million coins cannot be expanded. When demand for Bitcoin grows, unlike traditional assets, its supply remains capped, a unique property ingrained by Bitcoin’s creator, Satoshi Nakamoto. Bitcoin ETFs Hit New All-Time Highs Currently, over 19 million Bitcoin have been mined, most of which are in circulation or held in cold wallets. Recently, spot Bitcoin ETFs have also amassed a significant portion, now holding more than 5% of Bitcoin’s market value. Chinese crypto journalist Colin Wu reported that Bitcoin spot ETFs recently reached a net value of $72.545 billion. On October 29 alone, inflows into these funds hit $870 million, marking the third-highest single-day inflow in ETF history. The top inflows include $1.05 billion on March 12 and $887 million on June 4.

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Uniswap Foundation Delays Proposal Upgrade Vote

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