Bitcoin

DeFi

Read

More people worldwide are interested in the Bitcoin halving this year compared to 2020. 
According to the CoinWire research provided to crypto.news, the appeal of Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="">BTC</a>) halving has almost doubled since its previous quadrennial block reward slashing.&nbsp; 
The firm&nbsp;<a target="_blank" href="https://coinwire.com/interest-in-bitcoin-halving/" rel="">analyzed</a>&nbsp;this year’s Google Trends data from across the globe and discovered that BTC halving interest scores increased from the previous cycle 51 to 100 days before the watershed event. 
The first halving in November 2012 scored zero on the trends chart, as blockchain technology and cryptocurrencies were reasonably new to financial curiosity. The score rose to four by July 2016, and by the third halving in May 2020, it surged nearly 13 times. 
<h2 class="wp-block-heading" id="europe-dominates-btc-halving">Europe dominates BTC halving</h2> 
European countries dominated Google search queries around the&nbsp;<a href="https://crypto.news/what-will-future-bitcoin-halvings-look-like/" target="_blank" rel="">Bitcoin halving</a>, despite the approval of spot&nbsp;<a href="https://crypto.news/bitcoin-etf-grayscale-outflows-april/" target="_blank" rel="">Bitcoin ETFs</a>&nbsp;in the U.S. and trading volumes of $200 billion. The top five countries included the Netherlands, Slovenia, Switzerland, Austria, and Singapore. 
Excluding Singapore, the top 10 cities showing massive interest in Bitcoin’s halving were also found in Europe. According to CoinWire’s report, Zurich, the largest city in Switzerland, scored 100.&nbsp; 
Amsterdam and Rotterdam in the Netherlands followed the Swiss giant with scores of 98 and 93, respectively. Austria’s Vienna and German Dusseldorf, Stuttgart, Munich, Frankfurt, and Cologne completed the list of 10 areas boasting the highest Bitcoin halving inquisitiveness. 
While the U.S. came in at 22 among countries searching for Bitcoin halving information, states within America still showed high demand. CoinWire analysis showed that North and South Dakota scored 100, along with Zurich.&nbsp; 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14265285"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/04/countries-that-are-most-interested-in-bitcoin-halving-1536x864-1-1024x576.png.webp"> 
 <img loading="lazy" decoding="async" width="1024" height="576" src="https://crypto.news/app/uploads/2024/04/countries-that-are-most-interested-in-bitcoin-halving-1536x864-1-1024x576.png" alt="CoinWire: Bitcoin halving interest doubled since 2020 - 17"> 
 </picture> 
 <figcaption class="wp-element-caption">
 Worldwide Bitcoin halving interest data | Source: CoinWire
 </figcaption>
</figure> 
 You might also like: <a href="https://crypto.news/demand-appears-to-have-outpaced-issuance-as-bitcoin-halving-nears/" rel=""> Demand appears to have outpaced issuance as Bitcoin halving nears </a> 
<h2 class="wp-block-heading" id="btc-halving-could-stir-defi-boom">BTC halving could stir defi boom</h2> 
Analysts posit that this year’s halving could differ regarding price impact and emerging narratives due to spot Bitcoin ETFs and a growing decentralized finance (defi) movement on Bitcoin’s blockchain. 
Bitcoin defi emerged after developer <a href="https://crypto.news/bitcoin-ordinals-creator-steps-down-as-inscriptions-surpass-10m/" target="_blank" rel="">Casey Rodarmor</a> published the Ordinals protocol, allowing users to inscribe data on the smallest BTC unit known as Satoshi or SATS. 
Pseudonymous builder Domo also expanded on the idea and created the BRC-20 standard, similar to Ethereum’s (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="">ETH</a>) ERC-20, the famous architecture employed for digital assets on crypto’s second-largest blockchain.&nbsp; 
Bitget Chief Analyst Ryan Lee told crypto.news that users may see demand for BTC solutions and decentralized apps (dapps) as the halving draws even more attention toward the world’s number one decentralized network. 
<blockquote class="wp-block-quote"> 
 “The ingrained positive buyer sentiment triggered by Bitcoin has also stirred a DeFi boom as many innovators began exploring the DeFi on BTC move. Notably, this innovation is in its infancy. However, we project this will form the next major trend that can help return positive value to Bitcoin proponents beyond the ETF offerings.” <cite>Ryan Lee, Bitget Chief Analyst</cite>
</blockquote> 
 Read more: <a href="https://crypto.news/bitcoin-halving-2024-experts-weigh-in/" rel=""> What will happen after the Bitcoin halving? Experts weigh in on historic moment </a>

CoinWire: Bitcoin halving interest doubled since 2020

Inhoudsopgave

crypto.news

Andere artikelen gepubliceerd op 12 apr 2024

Sam Bankman-Fried Appeals 25-Year Prison Sentence, Crypto Twitter Unconvinced

Crypto World Sees a $500 Million Deal Today

Unveiling the Future with BlockDAG: A Leap in Tech Offering 20,000x Returns Amidst Solana and MAT...

British Columbia Implements New Regulations on Cryptocurrency Mining to Curb Energy Consumption

Expert Calls $RECQ a Great Pick for 2024 Crypto Boom Alongside BONK and SUI

BlockDAG Leads with NEAR Protocol Rise & Binance Coin Breakout: A 30,000% Profit Crypto Investmen...

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!