Bitcoin halving is estimated to take place on April 17 according to Coin base exchange. Known to keen investors as a significant market move, the event takes place every four years to control inflation on the network. Before the halving, market participants focus on taking positions Bitcoin and top altcoins to buy. For example, restock tokens like AltLayer (ALT) and Commute creating a lot of buzz in the market with investors looking for newer gems that are likely to outperform Bitcoin post-halving.
What is Bitcoin Halving, why does it matter?
The four-year cycle engraved Bitcoin code cuts the amount of new coins joining the network in half. In simpler terms, the rewards miners earn for processing blocks of transactions are cut by 50%, thus significantly shrinking the circulating supply.
After the previous halving in 2020, miners earned 6.25 BTC per block of transactions 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 – estimated to fall in 2140. In addition to processing transactions, miners secure the network, hence the reward.
Halving is important to Bitcoin as it ensures that inflation is controlled by making BTC scarcer with each cycle. It is this scarcity in supply and consistent increase in demand that makes Bitcoin one of the most sought-after digital assets in the world.
Although halving applies to Bitcoin, its influence often spreads across the crypto market, causing positive waves in altcoins to buy. This explains the growing interest in the altcoin market that taps into the positive sentiment due to the Bitcoin rally reaching new highs.
Investors usually prefer to diversify crypto portfolios with altcoins to buy such as AltLayer (ALT) and Pendle. Some of these tokens explode even better than Bitcoin, allowing holders to buy more Bitcoin or make fortunes in the crypto market.
AltLayer (ALT)
AltLayer is one of the leading networks spearheading phasing or restacked tokens otherwise referred to reformat. Based on the protocol’s website, refactored compilations make use of EigenLayer’s mechanism, which “makes compilations more decentralized, secure, interoperable, and efficient.
The project’s reconfigured assemblies consist of three vertically-integrated “Actively Validated Services (AVS), with the ability to be created on demand for any given summary.
AltLayer quickly gained traction after its launch in 2022, supported by a vibrant social community. The project boasts more than 670.5000 followers on X who interact on various topics, helping to promote the recycling sector.
ALT, the token that powers the ecosystem, has a market capitalization of $761 million, ranking #138 among other cryptos. With interest in the token growing exponentially, it attracts a massive $158 million 24-hour trading volume.
AltLayer price hovered at $0.6, down 3.7% on Tuesday, April 9 on top of a 12% increase in value in seven days.
Potential investors should note its total 10 billion and maximum supply and circulating supply of only 1.255 billion. This shows that the network will continue to unlock more tokens which could dampen price performance in the long run.
Commute (PENDLE)
Pendle is emerging as a pioneer in the cryptocurrency sector with its groundbreaking recycling protocol. It stands out for its new feature of tokenization and decoupling of returns from the ownership of the base assets.
This cutting-edge feature empowers users to refine their yield management techniques and facilitates the trading of future returns in a secondary market.
Unlike its peers, Pendle elevates DeFi yield management by significantly boosting liquidity and adaptability, changing the way investors manage their portfolios.
One PENDLE token is worth $6.31 – the prevailing exchange rate. Its value has fallen by almost 3% in the last 24 hours, CoinMarketCap data show.
Looking past the short-term correction caused by a general market downturn, Pendle is up a whopping 110% in the past 30 days on top of a staggering 1,292% explosive move in the past year.
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While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
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