Clay, which was falling, 69% announced a plan to control distribution volume ↑
According to Bithumb, a virtual asset exchange, clay was traded at 360.1 won per piece as of 9 a.m. on the 29th, up 69.85% from the same time last week. Clay fell day after day without any signs of rising, falling to the 100 won level, but it seems to have succeeded in rebounding thanks to the Clayton Foundation’s announcement of a distribution control plan.
On the 23rd (local time), Clayton’s team announced the third-quarter ecosystem update on its official blog. “To optimize the speed of clay issuance, we submitted a governance proposal to the Governance Committee (GC), which aims to reduce block compensation by a third,” the team said. “If the proposal, which closes the vote on October 25, is passed, the clay inflation adjustment plan will be reflected in governance online around mid-November.”
Clay Chart/Picture = Bithumb
Clay Chart/Picture = Bithumb
If the proposal is applied, the existing clay block mining compensation of 9.6 clays (GC 34%, KGF 54% and KIR 12% allocation) will be changed to 6.4 clays (GC 50%, KGF 40%, and KIR 10% allocation). It is designed to promote clay demand in light of the recent macro-environment. After applying the proposal, the annual inflation rate of clay distribution is expected to decrease from 10% to 6.48%.
Earlier, the Clayton Foundation conducted a buyback on Clay. They chose to buy clay directly from their partners, and in particular, they will incinerate all virtual assets purchased through it.
“Buyback is only implemented by buying clay directly from CEX’s spot market, and it is being carried out in a stable manner to minimize market volatility,” a Clayton Foundation official said. “All clay purchased through Buyback will be incinerated.”
Bitcoin on a Rollercoaster in the U.S. Stock Exchange
Bitcoin was traded at 28.956 million won, up 4.97 percent from the same time last week. Bitcoin, which had been “floating” in the 27 million won range, repeated its ups and downs by being sensitive to rising and falling U.S. stock markets.
The U.S. stock market repeatedly rose and fell depending on the results of major companies’ third-quarter earnings. On the 25th (local time), the three major indexes of the New York Stock Exchange (NYSE) rose from the beginning of the market, with major companies such as General Motors (GM) and Coca-Cola announcing better performance than market expectations.
On top of that, Bitcoin prices once rose to the 29 million won level as some predict that the pace of interest rate hikes could ease in December. One foreign media said, “Fed officials are focusing on raising the benchmark interest rate by 0.75% at the FOMC regular meeting next month,” but added, “We are likely to discuss whether to send a signal of a smaller increase in December.”
reference url list