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The cryptocurrency landscape is set to transform with the upcoming Bitcoin halving event tonight, decreasing mining rewards from 6.25 to 3.125 BTC. Binance CEO Richard Teng highlights the positive climate, enhanced by the Bitcoin ETF approvals and a surge in institutional interest. Teng points to the Ordinals protocol and booming DeFi activities on the Bitcoin network as catalysts for current market dynamics. He emphasizes the historical price increases post-halving and suggests that the reduced supply of new coins might spur further market optimism.
Despite the excitement, Teng advises caution, especially for new investors, emphasizing that substantial price changes should not be expected immediately. He notes that the true impact of the halving will reveal itself through long-term trends in value, liquidity, and broader adoption, ultimately strengthening crypto’s position as a legitimate asset class. This event could mark another significant milestone in cryptocurrency acceptance and investor interest.
