Bitcoin’s issuance rate sinks lower than gold’s after fourth halving

Bitcoin’s fourth halving event has drawn significant attention to its comparison with gold regarding scarcity, as highlighted by Glassnode analysts. According to Glassnode, this event marked a historic moment where Bitcoin’s (BTC) issuance rate fell below that of gold for the first time, emphasizing a pivotal shift in the narrative surrounding the two assets. As reported, the halving event on Saturday reduced block subsidies, with the issuance dropping from 6.25 BTC to 3.125 BTC per block. This translates to an issuance of approximately 450 bitcoin per day, further underlining the…

Demand appears to have outpaced issuance as Bitcoin halving nears

Analysts at CryptoQuant found that Bitcoin demand from “permanent holders” has outpaced BTC issuance for the first time in history, adding fuel for the potential price rally. Bitcoin‘s demand from long-term holders has surged past issuance levels for the first time in the cryptocurrency’s history, according to a recent research report from CryptoQuant. The cohort of long-term holders is now adding around 200,000 BTCs per month, analysts say, adding that the figure is far exceeding the monthly issuance of approximately 28,000 BTC. Bitcoin issuance | Source: CryptoQuant Analysts at CryptoQuant…

Ethereum Foundation Researchers’ Proposal to Slow ETH Issuance Draws Pushback

Notably, Vitalik Buterin, the influential co-founder of the Ethereum blockchain, is one of three members of the executive board of the Ethereum Foundation, according to its website. The organization is described as a “non-profit that supports the Ethereum ecosystem,” and part of a “larger community of organizations and individuals that fund protocol development, grow the ecosystem and advocate for Ethereum.” Source

Starknet’s STRK Drops 53% Amid Token Issuance Criticism

A large part, 50.1% of STRK’s supply, has been allocated to the Starknet Foundation for community airdrops, grants and donations. 24.68% of STRK’s total supply will be distributed to early contributors and investors, while 32% has been assigned to developer StarkWare’s (its developer) employees, consultants and developer partners. Source

Manta Network Hit by DDoS Attack Day After Issuing MANTA Token Issuance

Manta is the latest in a rising cohort of new blockchains that offer faster transactions at lower costs than popular networks, such as Ethereum. These newer networks are usually backed by prominent funds and extensively market their blockchain in crypto circles on X and other social media platforms, hoping to capture market share and fees, which bolsters the value of their tokens. Source

BlackRock and Grayscale meeting with SEC about Bitcoin ETF issuance

Bloomberg Intelligence ETF research analyst James Seyffart reports that BlackRock and Grayscale, two major investment major companies with plans to issue a Bitcoin ETF, have recently met with the SEC. Based on slides that have become public knowledge, Seyffart shows that BlackRock likely prefers in-kind for their offering. In-kind vs. cash In highlighting this announcement, the analyst suggests that this decision makes sense as it is likely the cleanest structure for the company and its investors. The news came alongside a consecutive report that Grayscale, another prominent investment management firm,…

Singapore to Begin Wholesale CBDC Issuance Next Year

The MAS will collaborate with local banks during the pilot, allowing them to issue tokenized bank liabilities on blockchain technology, streamlining the clearing and settlement processes. Singapore is gearing up for a groundbreaking move into the era of Central Bank Digital Currencies (CBDCs), with plans to pilot the live issuance and use of wholesale CBDCs in 2024. As reported by CNBC, Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), announced the plans at the Singapore FinTech Festival 2023. The initiative aims to leverage the benefits of…