Crypto halving is an event that always gets the crypto community talking. For established cryptocurrencies like Bitcoin and Litecoin, crypto halving events often get the bulls racing, and for newcomers to the market like Caged Beasts, crypto halving events offer a staggering opportunity to ride the waves of success.
But what is crypto halving, and when is the next one set to occur? And how is it best to invest when these events are on the horizon? Continue reading to find out.
What Is Crypto Mining? A Look At Bitcoins Captivating Feature
Crypto halving is an event that occurs roughly every four years on the Bitcoin network. It is a programmed reduction of the rate at which new Bitcoins are created and awarded for crypto mining, having gone from 50 BTC in 2009 to 6.25 BTC as of the most recent halving event, which occurred in May 2020.
Crypto mining is necessary in order for the blockchain to work efficiently. In simple terms, transactions are validated by miners who contribute computing power to secure the network, being rewarded with newly minted Bitcoins as a result.
Needless to say, this makes Bitcoin mining an extremely lucrative business.
To control the issuance of new Bitcoin tokens and maintain scarcity, Bitcoin incorporates halving. It is a simple yet efficient system and one that always gets the crypto community talking. Based on previous crypto halving events, the next Bitcoin halving will likely occur around the summer of 2024.
Litecoin Follows The Leader
Designed to be the silver to Bitcoins gold, Litecoin is one of the crypto market’s oldest altcoins. Created using similar technology to Bitcoin, Litecoin has followed many of Bitcoin’s techniques for success, including the aforementioned halving events.
As it was launched sometime after the launch of Bitcoin, the two coins’ halving events do not occur at the same time. Estimates suggest that the next Litecoin halving event will occur in August 2023, where the reward for crypto mining will be 6.25 LTC. While likely not to cause as large a splash as Bitcoin’s halving event, Litecoin’s crypto halving will still likely draw a surge of interest to the coin, making it crucial for potential investors to keep their eye on it in the coming months.
Caged Beasts: A Knock-On Effect For the Ages
The value of Bitcoin impacts the value of the entire crypto market. This is something that has been recorded time and time again, meaning that if the value of Bitcoin is up, the market can expect an overall boost.
For tokens newly entering the market, such as Caged Beasts, Bitcoin halvings present a unique opportunity to prosper: to maximize the bullish market and propel themselves into the spotlight. Considering that the token has yet to announce its official launch date, this gives plenty of time to prepare, making this an exciting project to monitor.
Caged Beasts is an NFT creature-collecting meme token project where users will be able to collect and evolve their ‘Caged Beast’ creatures. The design of the project is grungy and sci-fi, giving it a unique visual style amongst its contemporaries. For those looking for something with more bite than the typical cutesy meme coin, Caged Beasts may provide an answer.
So, can Caged Beasts benefit from the Litecoin and Bitcoin crypto halving events, which will take place in August 2023 and Summer 2024, respectively? If they play their cards right, the answer is yes – however, we will simply have to wait and see before we get the results.
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