Bittime - The supply of Ether (ETH) tokens is predicted to stagnate following the implementation of the latest Ethereum network upgrade dubbed "Dencun". News regarding the supply of ether has become a hot topic among the crypto community.
Dencun and its Impact on Ether Supply
The Dencun upgrade is an Ethereum protocol upgrade that focuses on improving network efficiency and scalability. One of the significant impacts of this upgrade is the reduced emission of new ETH tokens.
Previously, Ethereum used a Proof-of-Work ( PoW ) consensus mechanism that generated new ETH tokens as rewards for miners who successfully validated transactions.
Dencun, which implements Proof-of-Stake ( PoS ) elements, reduces reliance on mining and shifts to staking as a transaction validation mechanism. Staking does not produce new ETH tokens directly, so the supply of ETH is expected to experience slow growth.
Check Today's Crypto Market:
| ETH/IDR | SOL/IDR |
| BTC/IDR | ATOM/IDR |
| USDT/IDR | ARB/IDR |
Potential Impact on ETH Price
Stagnant supply of ETH, combined with a potential increase in demand resulting from wider adoption, could have a positive impact on the price of ETH in the future. Basic economic theory states that the rarer an asset is, the higher its potential for price increases.
ETH Price Today
Source: Bittime
Based on the Bittime market on March 19 2024, the price of Bitcoin ETH/IDR has reached IDR 53,730,438 per coin, down 5.33% in 24 hours.
Also Read How to Buy Crypto:
It's Too Early to Conclude
Although predictions regarding ETH price increases due to reduced supply are interesting to watch, it is still too early to determine the long-term impact of the Dencun upgrade.
Crypto analysts need time to observe how changes in consensus mechanisms and other factors in the crypto market affect the overall price of ETH.
Conclusion
despite the impact on ETH supply, the Dencun upgrade is overall seen as a positive step for Ethereum's future. Increased network efficiency and scalability could attract more users and developers to build decentralized applications (dApps) on top of the Ethereum platform.
Check Crypto Prices Today:
How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with the market pair ETH/IDR . To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH) on Bittime.
Monitor price chart movements for Ethereum (ETH) , Bitcoin (BTC) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Ethereum Dencun Upgrade: Here's What You Need to Know!
Dencun: An Ethereum Lifeboat to Compete in the Sea of Blockchain
Risk Averse Ethereum Implementation Strategy for Playing Merge
DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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