Supply
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The #bitcoinhalving is a significant event in the #BTC ecosystem that occurs approximately every four years or after 210,000 blocks have been mined. The primary purpose of halving is to control Bitcoin's supply, ensuring it remains finite with a maximum cap of 21M coins By reducing the rate at which new bitcoins are generated, halving potentially increases the value of Bitcoin over time due to the reduced supply of new coins entering the market, aligning with the principles of #Supply and #Demand
The recent halving is happened in April 2024, when the block reward will be reduced from 6.25 BTC to 3.125 BTC per block. Historically, Bitcoin halvings have coincided with bull runs, with the price climbing significantly in the year following the event. For example, following the previous halvings, the price climbed 8,760% to $1,152, then 2,570% to $17,760, and finally 594% to $67,549 by the following year.
The halving event is automatically triggered by the Bitcoin network once 21M blocks have been mined since the last halving.
This count is embedded within the Bitcoin protocol and cannot be changed without forking the Bitcoin blockchain and creating a new cryptocurrency.
The halving creates scarcity and limits the total supply of bitcoins that will ever exist. This controlled supply is a fundamental aspect of Bitcoin's design and contributes to its appeal for many investors. The reduction in the supply of new bitcoin resulting from halving, coupled with potential increased demand, can create a supply-demand imbalance that may contribute to price appreciation.
However, it's important to note that the halving itself is not the sole factor influencing Bitcoin's price. Other market factors, investor sentiment, and macroeconomic conditions can also play significant roles in the price of Bitcoin increasing or decreasing around halving.In summary, the Bitcoin halving is a critical event that reduces the supply of new bitcoins entering the market, potentially increasing the value of Bitcoin over time due to the principles of supply and demand. #write2earnđđš
The recent halving is happened in April 2024, when the block reward will be reduced from 6.25 BTC to 3.125 BTC per block. Historically, Bitcoin halvings have coincided with bull runs, with the price climbing significantly in the year following the event. For example, following the previous halvings, the price climbed 8,760% to $1,152, then 2,570% to $17,760, and finally 594% to $67,549 by the following year.
The halving event is automatically triggered by the Bitcoin network once 21M blocks have been mined since the last halving.
This count is embedded within the Bitcoin protocol and cannot be changed without forking the Bitcoin blockchain and creating a new cryptocurrency.
The halving creates scarcity and limits the total supply of bitcoins that will ever exist. This controlled supply is a fundamental aspect of Bitcoin's design and contributes to its appeal for many investors. The reduction in the supply of new bitcoin resulting from halving, coupled with potential increased demand, can create a supply-demand imbalance that may contribute to price appreciation.
However, it's important to note that the halving itself is not the sole factor influencing Bitcoin's price. Other market factors, investor sentiment, and macroeconomic conditions can also play significant roles in the price of Bitcoin increasing or decreasing around halving.In summary, the Bitcoin halving is a critical event that reduces the supply of new bitcoins entering the market, potentially increasing the value of Bitcoin over time due to the principles of supply and demand. #write2earnđđš
The current circulation of USDT stands at a staggering 112.5 billion USDT, with a dominant 97.4% actively circulating on the Ethereum and Tron networks.
Breaking it down, we have 58.6 billion USDT (52.1%) flowing through the Tron Network, while Ethereum hosts 50.96 billion USDT (45.3%).
Additionally, some major exchanges hold significant amounts of USDT:
A substantial $1,889,939,877.63 resides on Solana.
Algorand hosts a more modest $17,999,918.76.
Avalanche sees a notable $1,347,205,574.05 in circulation.
#USDT #Supply
Breaking it down, we have 58.6 billion USDT (52.1%) flowing through the Tron Network, while Ethereum hosts 50.96 billion USDT (45.3%).
Additionally, some major exchanges hold significant amounts of USDT:
A substantial $1,889,939,877.63 resides on Solana.
Algorand hosts a more modest $17,999,918.76.
Avalanche sees a notable $1,347,205,574.05 in circulation.
#USDT #Supply
The #BTC #Halving event is just 124 days out.
The introduction of the first #BitcoinSpotETF is happening in under 26 days.
This suggests an increase in demand alongside a decrease in #Supply
We are still early.
The introduction of the first #BitcoinSpotETF is happening in under 26 days.
This suggests an increase in demand alongside a decrease in #Supply
We are still early.
What is Bitcoin Halving....?
đ¸ A breakdown of the concept for beginners#Halving is a process that slows down the issuance of new units of cryptocurrency by reducing the reward to miners for verifying transactions on the blockchain. This mechanism ensures a steady rate of issuance until the maximum supply of the crypto asset is reached.In the #Bitcoin⏠system, halving occurs every 210,000 blocks, which roughly corresponds to four years. It halves miners' rewards and controls the creation of new bitcoins to prevent the BTC market from becoming oversaturated.Halving plays a key role in bitcoin tokenomics, gradually reducing its #Supply and maintaining the scarcity and value of the digital asset. The total bitcoin supply is capped at 21 million, and the halving mechanism ensures a predictable pace to reach that mark.The next bitcoin halving is scheduled for April 2024, approximately four years after the previous one in May 2020. At this point, over 90% of all bitcoins have already been created, and it is predicted that the last bitcoin will be created by 2140.Halving doesn't change your current bitcoin supply, but it can affect the price and other aspects of the cryptocurrency sphere, so investors, traders and crypto-enthusiasts are watching this process closely.After the 32nd halving, no more new bitcoins will be created, reaching a maximum supply of 21 million BTC.#TrendingTopic #BTCHALIVING
MASSIVE BITCOIN SUPPLY SHOCK đĽ
Hereâs why:
â With the recent bitcoin halving,
miners can now only produce a max
of 450 BTC daily.
â US Bitcoin spot ETFs are buying an
average of 3,000 BTC daily.
â Hong Kong ETFs are about to start
trading very soon.
â Australia applied for spot Bitcoin
ETF
â Institutions worldwide are lining up
to own a piece of Bitcoin
â The bitcoin supply in all exchanges
is at an all-time low
This is going to be the biggest bullrun
you have never seen! Be patient, hold
tight and donât get shaken out.
#BITCOIN #ETF #Supply #MARKETUPDATE $BTC
Hereâs why:
â With the recent bitcoin halving,
miners can now only produce a max
of 450 BTC daily.
â US Bitcoin spot ETFs are buying an
average of 3,000 BTC daily.
â Hong Kong ETFs are about to start
trading very soon.
â Australia applied for spot Bitcoin
ETF
â Institutions worldwide are lining up
to own a piece of Bitcoin
â The bitcoin supply in all exchanges
is at an all-time low
This is going to be the biggest bullrun
you have never seen! Be patient, hold
tight and donât get shaken out.
#BITCOIN #ETF #Supply #MARKETUPDATE $BTC