Bitcoin halving is estimated to take place on April 17th, according to coinbase exchange. This event is known by avid investors as a major market mover and is held every four years to control inflation on the network. Market participants are focused on taking positions ahead of the halving. Bitcoin And top altcoins to buy.For example, replenish tokens like ortho layer (ALT) And pendle It's generating a lot of buzz in the market as investors look for new gems that are likely to outperform Bitcoin after the halving.
What is Bitcoin halving and why is it important?
engraved 4 year cycle Bitcoin This code reduces the amount of new coins joining the network by half. Simply put, the reward a miner earns for processing a block of transactions will be reduced by 50%, resulting in a significant reduction in circulating supply.
After the previous halving in 2020, miners gained 6.25 BTC per transaction block, up from 12.5 BTC. The halving in April 2024 will further reduce the reward to 3.125.
This halving process is expected to continue until all 21 million BTC is gone, estimated to drop in 2140. In addition to processing transactions, miners secure the network and are therefore compensated.
Halving is important for Bitcoin because it ensures inflation is controlled by increasing the scarcity of BTC with each cycle. This lack of supply and consistent increase in demand has made Bitcoin one of the most popular digital assets in the world.
Although halvings are relevant to Bitcoin, their impact spreads throughout the cryptocurrency market and often causes a wave of altcoin buying. This explains the increased interest in the altcoin market, capitalizing on the positive sentiment from Bitcoin's rise to new highs.
Investors typically like to diversify their investments. crypto portfolio It can be purchased using altcoins such as AltLayer (ALT) and Pendle. Some of these tokens have explosively outperformed Bitcoin, allowing holders to buy more Bitcoin and build wealth in the crypto market.
Alto Layer (ALT)
AltLayer is one of the leading networks pioneering what is known as staking or restacking tokens. Redo. According to the protocol's website, restaked rollups leverage EigenLayer's mechanisms to “make rollups more decentralized, secure, interoperable, and efficient.”
Project Restaked Rollups are comprised of three vertically integrated Actively Validated Services (AVS) with the ability to create on-demand for specific rollups.
AltLayer quickly gained traction after launching in 2022, backed by a vibrant social community. The project boasts over 670,500 followers on X, who interact on a variety of topics and contribute to the advancement of the restaking field.
ALT, the token that powers the ecosystem, has a market capitalization of $761 million, ranking 138th among other cryptocurrencies. Interest in this token has skyrocketed, attracting a huge trading volume of $158 million in 24 hours.
AltLayer's price fell 3.7% to $0.6 on Tuesday, April 9, despite gaining 12% in seven days.
Potential investors should note that its total 10 billion, maximum supply and circulating supply is only 1.255 billion. This indicates that price performance may decline in the long run as the network continues to unlock more tokens.
PENDLE
Pendle has emerged as a pioneer in the cryptocurrency space with its groundbreaking restaking protocol. It stands out for its novel feature of tokenizing and decoupling yield from ownership of the underlying asset.
This cutting-edge feature allows users to hone their yield management skills and facilitate trading of future yields in the secondary market.
Unlike others, Pendle improves DeFi yield management by significantly increasing liquidity and adaptability, transforming the way investors manage their portfolios.
One PENDLE token is worth $6.31 at prevailing exchange rates. Its value has fallen by almost 3% in the past 24 hours. coin market cap The data shows.
After getting past the short-term correction due to the overall market downturn, Pendle has soared a whopping 110% in the past 30 days, on top of its explosive 1,292% rally over the last year.
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