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