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Bitcoin, Ethereum Eye New Highs Pre-Halving, This Solana-Based Meme Coin Could Double
Bitcoin price eyes another daily close above $70,000 to sustain the uptrend to hit new all-time highs pre-halving.
Ethereum price is poised to continue mirroring BTC’s movement toward record highs.
Solana-based dogwifhat meme coin has the potential to double in value ahead of the Bitcoin halving.
#BNBChain #Solana🚀 #Wirite2Earn #POLYX
Bitcoin price eyes another daily close above $70,000 to sustain the uptrend to hit new all-time highs pre-halving.
Ethereum price is poised to continue mirroring BTC’s movement toward record highs.
Solana-based dogwifhat meme coin has the potential to double in value ahead of the Bitcoin halving.
#BNBChain #Solana🚀 #Wirite2Earn #POLYX
#$BTC #Wirite2Earn #TrendingTopic." #trendNtell #BTChaving2024 #BTC#Write2EarnBTC The Bitcoin halving event marks a significant milestone in the cryptocurrency's history, occurring approximately every four years. During this event, the rate at which new Bitcoins are created is halved, leading to a reduction in the supply of new coins entering circulation. This deliberate mechanism is built into Bitcoin's protocol and serves to control inflation while maintaining scarcity, akin to the scarcity of precious metals like gold.
The impact of the Bitcoin halving event is profound, often leading to increased attention from investors, traders, and enthusiasts alike. Historically, it has been associated with price rallies, as the reduced supply meets with sustained or increased demand. This phenomenon highlights the importance of Bitcoin's deflationary nature, as its scarcity becomes even more pronounced following each halving.
However, the halving event also presents challenges, particularly for miners who rely on block rewards as incentives for validating transactions and securing the network. With fewer newly minted coins entering circulation, miners must adapt to maintain profitability, potentially leading to adjustments in mining strategies and operational efficiencies.
Overall, the Bitcoin halving event serves as a testament to the cryptocurrency's unique monetary policy and decentralized nature. It underscores Bitcoin's resilience and the community's commitment to fostering a digital economy built on principles of scarcity, decentralization, and financial sovereignty.
The impact of the Bitcoin halving event is profound, often leading to increased attention from investors, traders, and enthusiasts alike. Historically, it has been associated with price rallies, as the reduced supply meets with sustained or increased demand. This phenomenon highlights the importance of Bitcoin's deflationary nature, as its scarcity becomes even more pronounced following each halving.
However, the halving event also presents challenges, particularly for miners who rely on block rewards as incentives for validating transactions and securing the network. With fewer newly minted coins entering circulation, miners must adapt to maintain profitability, potentially leading to adjustments in mining strategies and operational efficiencies.
Overall, the Bitcoin halving event serves as a testament to the cryptocurrency's unique monetary policy and decentralized nature. It underscores Bitcoin's resilience and the community's commitment to fostering a digital economy built on principles of scarcity, decentralization, and financial sovereignty.
Paxos Addresses Pax Dollar Depegging, Trader Liquidation
The Pax Dollar (USDP) stablecoin recently lost its peg, causing its price to surge to $1.29 on April 16 before settling at $1.A Paxos representative stated the depegging resulted from pricing aggregator errors, not its protocol.
The depegging occurred during a significant market cap increase for USDP, which briefly rose from $140 million to $181 million when the coin hit $1.29.Despite the temporary price fluctuation, the spokesperson stated that USDP will always remain redeemable at fair value via Paxos.
In a related incident, an unknown trader was liquidated for $529,000 worth of Circle’s USD Coin on April 16, shortly after Pax Dollar surged to $1.18. The Paxos spokesperson advised traders employing different platforms to keep a close eye on the platform’s order book to avoid similar risks.
Pax Dollar has occasionally experienced significant price fluctuations. USDP hit as low as $0.87 on March 13, 2020, and rose as high as $2.02 onNovember 16, 2021.
Temporary depegging can lead to market instability and losses. Paxos remains dedicated to ensuring the stability of Pax Dollar. It attributes the recent incident to external pricing aggregator issues rather than issues with the protocol itself.
Full Story Click on below
https://twitter.com/PeckShieldAlert/status/1780489530057069009
#bitcoinhalving
#Wirite2Earn
#FollowForMoreInsights
The Pax Dollar (USDP) stablecoin recently lost its peg, causing its price to surge to $1.29 on April 16 before settling at $1.A Paxos representative stated the depegging resulted from pricing aggregator errors, not its protocol.
The depegging occurred during a significant market cap increase for USDP, which briefly rose from $140 million to $181 million when the coin hit $1.29.Despite the temporary price fluctuation, the spokesperson stated that USDP will always remain redeemable at fair value via Paxos.
In a related incident, an unknown trader was liquidated for $529,000 worth of Circle’s USD Coin on April 16, shortly after Pax Dollar surged to $1.18. The Paxos spokesperson advised traders employing different platforms to keep a close eye on the platform’s order book to avoid similar risks.
Pax Dollar has occasionally experienced significant price fluctuations. USDP hit as low as $0.87 on March 13, 2020, and rose as high as $2.02 onNovember 16, 2021.
Temporary depegging can lead to market instability and losses. Paxos remains dedicated to ensuring the stability of Pax Dollar. It attributes the recent incident to external pricing aggregator issues rather than issues with the protocol itself.
Full Story Click on below
https://twitter.com/PeckShieldAlert/status/1780489530057069009
#bitcoinhalving
#Wirite2Earn
#FollowForMoreInsights
