The Structural Shift in Blockchain's Value Accrual: Lessons from the Semiconductor Cycle
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Neutral
Market Sentiment
92 million ARB released
Circulating supply increases by about 2%
Raises validator limit and account abstraction
Block reward halving event
Team and early investor shares released
Block reward reduced to 3.125 BTC
Improves data availability sampling efficiency
Independent validator client goes live on mainnet
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