One of the most anticipated events in the cryptocurrency industry is the Bitcoin halving.
A Bitcoin halving (also called the Bitcoin halvening) is an event that sees the block rewards halved. When a halving occurs, miners only receive half of what they used to get as block rewards – however, there is no impact on transaction fees.
The first Bitcoin halving took place on November 28th, 2012. According to Blockchain protocol, block subsidy was reduced from 50 BTC to 25 BTC. The second occurred on July 9th, 2016, seeing block subsidy reduced to 12.5 BTC. The next halving event, which is expected to take place in May 2020, will bring the subsidy down to 6.25 BTC.
A halving event occurs approximately every four years, but the Bitcoin protocol does not set specific dates on which it takes place. Instead, it goes by block height – a halving occurs with every 210,000 blocks.
There have been two Bitcoin halving events since the genesis block was generated in 2009, accompanied by record-high Bitcoin prices.
Bitcoin is not the only cryptocurrency that is expecting a halving event this year. Each week, Binance will provide you with relevant data relating to cryptocurrencies that are expecting a halving, giving you more insights into the market movements.
Data will be updated every Sunday (UTC 0:00).
The table below lists data of cryptocurrencies that will experience a halving between 2020/2/24-2020/3/1.
1. In table 2, the “weekly maximum price” and “weekly minimum price” of the cryptocurrencies that are expecting a halving are all denominated in USDT, while “weekly rise and fall” and “recent 30-day rise and fall” are all against BTC (except BTC, which is against USDT).
2. In table 3, XZC and ZEN price are against BTC.
3. ETC and DASH are not undergoing a halving, but a block subsidy reduction, with ETC block subsidy reduced by 20% and that of DASH reduced by 7.14%.
Among the aforementioned currencies, ETC will be the first to undergo a halving or block subsidy reduction. There are approximately 3 days till the ETC halving.
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