With less than 12 hours left until the next Bitcoin halving, online interest in the event has reached an all-time high, according to detailed tracking information provided by blockchain analytics platform Santiment.
Santiment is tracking social volume and dominance around this event, with volume surging to its second-highest level ever and dominance reaching an all-time high at 3.87% of cryptocurrency social activity.
Interest in halving has seen peaks and troughs throughout this year, with a notable spike in trading volume in February and March, followed by a gradual increase into April. But its dominance in the broader cryptocurrency conversation was inconsequential until last week. In the past seven days, interest rates have doubled, and the price of Bitcoin has fallen from over $70,000 to $59,000.
Interestingly, interest in this event varies by social platform. The number of mentions on Telegram has decreased by 90% since the last halving in 2020. However, Reddit has seen a consistent spike in halving-related conversations, and throughout 2024 he has broken the 2020 peak several times. Still, the number of mentions on Reddit has calmed down to about half today. The level on the day before the halving in 2020.
Twitter has seen a unique pattern of spikes in activity in May 2022 and June 2023, followed by spikes in activity in recent days. Although he hasn't reached his 2020 level of mentions on Twitter, he's still within 10%.
There is little sustained interest in the halving on the Bitcointalk forums, but the interest in 2020 has been less than half that.
So while the total number of conversations about halving is nowhere near the euphoria of past halvings, it is a more important part of the conversation than ever before. Additionally, when it comes to the wider world, Google Trends shows the Bitcoin halving is on track to break previous records by a wide margin.
At the time of writing, Bitcoin is trading at around $64,000, up about 7% as the halving approaches.
