Bitcoin Halving’s Impact on the Crypto Ecosystem

4 min readApr 21, 2024

As Bitcoin undergoes its highly anticipated halving event, the entire altcoin community is abuzz with speculation on its broader impact.

Bitcoin Halving: Miner Rewards Drop to 3.125 BTC in Fourth Historic Event

Bitcoin has crossed an important milestone with the completion of its fourth halving event, resulting in a reduction of the mining reward from 6.25 BTC to 3.125 BTC per block after the mining of its 840,000th block. This significant event is closely monitored by the Altcoin community, as it has historically influenced the market dynamics and price trends due to the decreased rate of new coin issuance.

SEC Cites Justin Sun’s US Travels as Basis for Lawsuit Jurisdiction

The US Securities and Exchange Commission (SEC) has revised its lawsuit against Justin Sun, the founder of Tron, arguing that his frequent travels across the US provide a basis for jurisdiction.

According to the SEC’s updated complaint, filed on April 17 in a Manhattan federal court, Sun and his related businesses are subject to SEC regulation because of their targeted activities in the US market.

Gaming Tokens Plunge Amid Crypto Market Downturn Ahead of Bitcoin Halving

As anticipation builds for the upcoming Bitcoin halving, the broader crypto market has taken a hit, with gaming tokens suffering significant losses. GALA, the token for Gala Games, has plummeted by 32%, now hovering around $0.04. Even Immutable (IMX), the gaming token with the highest market cap at $2.7 billion, has faced a 27% drop, settling at $1.89. This slump is part of a month-long downturn, during which IMX has lost nearly half its value.

Bored Ape NFT Floor Price Drops to Lowest Level in Over Two Years

The floor price for Bored Ape Yacht Club (BAYC) NFTs has dropped by over 90%, reaching 11.1 Ether (ETH), its lowest point since August 2021. According to NFT Price Floor, the BAYC collection is now nearing a sub-10 ETH floor price after a 50% decrease since March 1. This dramatic decline reflects the recent volatility in the NFT market and has triggered concern among collectors and investors.

Hans Zimmer Releases “The Tron Anthem,” Inspired by Web3 Ideals

Legendary composer Hans Zimmer has unveiled “The Tron Anthem,” a new musical composition that celebrates the Web3 vision outlined by Tron founder Justin Sun. This captivating track features Zimmer’s iconic style, incorporating choral harmonies, intense percussion, and dynamic string arrangements.

According to Tron representatives, the piece is intended to reflect the core themes of equity and equality that are at the heart of the rapidly changing digital environment.

Top Altcoin Gainers and Losers

Meme of the Week:

Pre-Halving Conditions in the Crypto Market

Altcoin of the Week

Tether — USDT

Coingecko: Tether is a stablecoin pegged to the US Dollar. A stablecoin is a type of cryptocurrency whose value is pegged to another fiat currency like the US Dollar or to a commodity like Gold.

Tether is the first stablecoin to be created and it is the most popular stablecoin used in the ecosystem. It has the largest stablecoins by circulation and market capitalization.

Price — $1.00

Market Cap — $110,115,474,766

Fully Diluted Valuation — $110,115,474,766

24 Hour Trading Vol — $37,784,634,964

Circulating Supply — 109,834,251,114

Total Supply — 109,834,251,114

Max Supply — ∞




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