As a seasoned crypto investor with over a decade of experience under my belt, I find myself intrigued by the recent developments in Ethereum and Bitcoin. After witnessing the market turbulence and the rise and fall of countless altcoins, I’ve learned to appreciate the value of a solid foundation and sound monetary policy.
The decrease in the supply of Ether over the past two years, following the merge with the Beacon Chain, caught my attention. While Bitcoin’s supply has grown by 1.83% per year, Ethereum’s deflationary nature, thanks to the burn mechanism implemented through EIP-1559, makes it an attractive proposition for long-term investors like myself.
I’ve been following Nick Tomaino’s insights closely, and I must admit, his perspective on the importance of a well-designed monetary policy resonates with me. As someone who has lived through the hyperinflation in my home country, I can attest to the fact that deflation based on usage is indeed “better still.”
The recent surge in Ether holdings by the world’s largest asset manager, BlackRock, is another positive sign for Ethereum. With their substantial investment in the iShares Ethereum Trust ETF (ETHA), they’ve shown faith in the project’s future potential.
However, as with any investment, I always remind myself to keep a level head and not to get carried away by the hype. As the saying goes, “Buy the rumor, sell the news.” So, while I believe Ethereum has a bright future, I won’t be selling my Bitcoins just yet – you never know when the next bull run might come around!
In closing, let me leave you with a little joke to lighten the mood: Why did the crypto investor go broke? Because he tried to catch a falling knife and it sliced his portfolio in half! Always remember, patience is key when investing in the cryptosphere.
Over the last two years, the availability of Ether, Ethereum’s second largest cryptocurrency, has decreased by approximately 0.02% due to its transition to a Proof-of-Stake system after merging with the Beacon Chain.
As an analyst, I’ve observed that the yearly increase in the circulation supply of Bitcoin, the leading cryptocurrency, according to Nick Tomaino, its founder, averages 1.83%. This brings the current total to approximately 19.8 million BTC. Tomaino believes this is advantageous compared to relying on central bankers, and he further contends that deflation driven by usage is even more beneficial.
As someone who has closely followed the cryptocurrency market for several years now, I firmly believe that when it comes to the fundamentals and sound monetary policy, there is no second best – especially with regards to ether. The implementation of Ethereum Improvement Proposal (EIP) 1559 in August 2021 as part of the London hard fork was a game-changer for me. This change, which includes a base fee that is automatically burned with every ether transaction, has shown me the potential for a more sustainable and efficient digital economy. It’s an exciting time to be a part of this rapidly evolving industry, and I look forward to seeing how ether continues to shape the future of finance.
Based on information from Ultrasound Money, a system that monitors Ethereum’s supply adjustments, approximately 53,514.62 Ether (worth around $175.9 million) has been destroyed since the network’s merge. This represents about two years’ worth of burning the second-largest cryptocurrency by market capitalization following its upgrade.
The existing amount of ether is approximately 120.4 million ETH, and since the upgrade, the network’s supply has been reducing by 0.02% every year. Over the past month, reduced usage has led to a 0.31% increase in supply on an annual basis, as indicated by platform data. This translates to about 947,000 ETH being minted each year, with burns amounting to around 575,000 ETH annually.
According to a report from CryptoGlobe, the exchange-traded fund (ETF) for ether that was released by the world’s biggest asset manager earlier in the year has amassed a significant amount of Ether, with its holdings exceeding one million tokens as of recently.
Based on information from BlackRock’s website and Ethereum blockchain, as noted by Arkham Intelligence, the iShares Ethereum Trust ETF (ETHA) has amassed approximately 1.065 million Ether, currently valued at over $3.5 billion. This increase is due to substantial investments made in recent weeks, according to data from CoinGlass.
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2024-12-31 02:57