Following Bitcoin’s recent halving event, the cryptocurrency has experienced a modest increase in value. During the halving, the mining reward was reduced from 6.25 Bitcoin to 3.125, triggering a rise in transaction fees to an all-time high of $127. Analysts note that Bitcoin is currently sitting on a key support level, with 1.66 million addresses having purchased it at an average price of $64,800.
Bitcoin’s recent halving event, a significant change to its underlying technology that reduces the rate of new bitcoin creation, has had minimal impact on its price. Industry insiders attribute this to the cryptocurrency’s increasing correlation with broader financial market sentiment and geopolitical developments.
Over the past 24 hours, Render’s (RNDR) price has risen by 5.65%, bringing it to $9.27. This follows a positive trend over the past week, during which it experienced a 4.0% gain. The coin’s current price is still below its all-time high of $13.53.
Over the past 24 hours, BNB’s price has surged by 4.3%, reaching $597.86. This week, it has climbed by over 7.0%. The coin’s all-time high stands at $686.31. Despite a 9.0% decline in trading volume, BNB’s circulating supply has increased by 0.03% to 153.86 million. Currently ranked 4th in market cap with a valuation of $91.99 billion, BNB’s supply represents 76.93% of its maximum 200 million coins.
Investors should prioritize crypto assets with real-world applications for long-term growth. Solana (SOL), Filecoin (FIL), and Render (RNDR) stand out as promising projects due to their unique utility and potential for massive upside:
On Monday, Bitcoin saw a modest increase after completing its fourth halving on Friday, with prices rising 1.8%. Public cryptocurrency miners witnessed gains, with Marathon Digital and Riot Platforms showing rises of 3% and 5%, respectively. The halving event, occurring every four years, reduces incentives for Bitcoin miners while restricting the supply of new Bitcoins. Despite this, some analysts predict potential short-term risks for Bitcoin. Larger, well-established mining operations are better positioned to navigate the halving, while smaller operations may face challenges. Hash rates, indicating computational efficiency, are crucial in determining the profitability of mining.
