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Bybit, one of the world’s leading cryptocurrency exchanges, warns about a possible supply shock for Bitcoin (BTC). The alert comes amid high expectations for the Bitcoin halving and a record diminishing BTC supply on exchanges. On April 15, Bybit published a report making bold claims regarding Bitcoin’s available supply in the cryptocurrency market. According to the company’s research team, the 2 million BTC standing in exchange reserves will only last for nine more months . Bitcoin exchange reserves. Source: CryptoQuant/Bybit For that outcome, Bybit assumes a daily inflow of $500 million to Bitcoin Spot ETFs. This would hypothetically result in a 7,142 BTC outflow from exchanges, ending within the 9-month suggested period. Picks for you Japanese Yen (JPY) struggles at a 34-year low against the U.S. Dollar 20 mins ago MANTRA’s incubation program launched at the Dubai World Trade Center 54 mins ago Nimiq Pay to transform the crypto payment l...

The TON Believers fund will freeze depositors’ coins for two years, after which TON deposits will be vested monthly with rewards for a further three years. The Open Network community has locked up nearly 25% of the Toncoin (TON) supply for five years to “bring predictability to Toncoin tokenomics .” In a Telegram post on Oct. 23, TON Community said that 1.3 billion TONs (valued nearly $3 billion) have been put in the Locker smart contract. “The result demonstrates the long-term commitment many contributors have to the Toncoin project.” TON Community What is TON Believers fund Supported by the TON Foundation, the TON Believers Fund is a non-profit initiative launched in July 2023 as a smart contract on the TON blockchain. The idea behind the fund is that early-stage large investors and inactive early miners voluntarily lock their TON coins for two years, with an additional three years remaining for vesting, a process of gradual release of tokens ov...

Agricultural sectors, such as the coffee market, can integrate blockchain to achieve better traceability, security, and speed. Blockchain has a lot to offer to agriculture, helping the oldest industry reach a new dimension. Everything related to data and transactions can be enhanced with traceability, security, and speed. All of these features and benefits can transform agriculture and help it scale. With demand for food and agricultural products expected to jump 70% by 2050, scaling is more than a necessity. Decentralized ledger technology (DLT) can be intelligently mixed with other innovative tech solutions, including machine learning, Internet of Things (IoT) devices, artificial intelligence (AI), satellites, and drone imagery, to augment the benefits. The adoption of blockchain can help farmers and other players streamline supply chain processes to increase customer and stakeholder trust. Tracking the origin and transportation of a product can be done in real-time, with the blockc...

The circulating supply of SUI tokens will grow by nearly 15% by the end of 2023. The price of Sui (SUI) has dropped sharply after its market debut across leading cryptocurrency exchanges. On May 5, SUI price was $1.26 per token, down about 70% from its record high of around $4, established two days ago on Binance. Interestingly, on other exchanges like Kraken, the token's market top was $1.60 or lower, suggesting it was in "price discovery" mode after the launch. SUI/USD daily price chart. Source: TradingView Still, SUI maintains its overall market gains, up nearly 1,200% from its market debut. Early SUI price fundamentals SUI's initial uptrend draws support from traders who view Sui — a new entry into the long list of layer-one blockchain projects — as potentially more scalable than its rivals. Mysten Labs, Sui's original contributor, asserts that it will become the first internet-scale programmable blockchain platform thanks to its claims of processing about 3...

Wrapped Bitcoin garnered DeFi traders' support in the 2021-22 bull season, but the demand started to fade post numerous crypto contagions led to redemptions. The supply of wrapped Bitcoin (wBTC) dropped to its lowest since May 2021 after the second-largest single-day burn on Feb. 27.  A total of 11,500 WBTC worth about $260 million linked to now-bankrupt crypto lender Celsius was burned, turning its growth rate to negative. The current total supply of the wrapped token is 164,396 WBTC, with a monthly growth rate of -7.39. wBTC Daily mint and burn. Source: Dune WBTC is an Ethereum-based ERC-20 token that mirrors the value of Bitcoin and is pegged 1:1 with the Bitcoin (BTC) price. Bitgo co-developed wBTC in 2019 alongside blockchain interoperability protocol Ren and multi-chain liquidity platform Kyber. wBTC is also managed by the decentralized autonomous organization wBTC DAO, which comprises over 30 members. When a merchant wants to exchange BTC for wBTC, they start a burn transa...