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The math is brutal. Post-Dencun, blob data on Ethereum Layer2s has been cheap...
Greed
Market Sentiment
92 million ARB released
Raises validator limit and account abstraction
Block reward halving event
Block reward reduced to 3.125 BTC
Independent validator client goes live on mainnet
Improves data availability sampling efficiency
Circulating supply increases by about 2%
Team and early investor shares released
Bitcoin Season