After the halving, there is potential for gains in Bitcoin ecosystem tokens such as RUNE, STX, and ORDI.

2024/04/11 17:36

Cryptocurrency traders anticipate increased activity in networks and ecosystem tokens as Bitcoin's halving event approaches. Halving reduces new coin creation, potentially driving up prices. Runes, STX, and ORDI are poised to benefit from this narrative.

BTC Halving Dynamics: Halving slashes new coin creation rates, with the current 6.25 BTC block reward set to halve to 3.125 BTC. Historically, halving events have preceded bullish trends for Bitcoin.

Untapped Capital and Trading Opportunities: Wintermute's OTC desk notes untapped capital within the Bitcoin ecosystem, highlighting a scarcity of listed assets for traders to leverage. Traders may shift focus to Bitcoin ecosystem tokens like $RUNE, $STX, and $ORDI, potentially leading to significant gains.

Top Performers: RUNE and STX have demonstrated strong performance, mirroring Bitcoin's rise. ORDI, a meme coin tied to the Ordinals protocol on Bitcoin, has surged over 2,500% since its inception in September.

Rising Interest in Bitcoin Ecosystem: Cube.Exchange's Bartosz Lipinski predicts increased speculation in Bitcoin-based projects like Rune amid Ethereum's high costs and network congestion. The forthcoming Runes protocol launch on halving day could further divert attention to Bitcoin ecosystem tokens.

Impact on NFTs: Ordinals, embedding data into the Bitcoin blockchain, have seen heightened activity, surpassing Ethereum and Solana volumes. This surge, driven by projects like NodeMonkes and Pups, contrasts with a 95% decline in NFT activity across other networks.

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