Bitcoin (BTC), Litecoin (LTC), Dash (DASH) Halving events to occur in this number of days
Read U.TODAY on
Google News
Wu Blockchain reports the expected countdown for Bitcoin, Litecoin and DASH halving events, citing data from multi-cryptochain explorer OKLINK.
According to OKLINK, there are only 100 days left before Litecoin’s next halving event. The countdown to the DASH halving event is 58 days, while that of the BTC halving is 369 days.
Bitcoin halving
Bitcoin is a little more than a year away – about 369 days away – from the halving event. According to OKLINK, the estimated date is 27 April 2024.
Half slashes in half the amount of coins that Bitcoin miners receive as a reward. The quadrennial event is part of the process of capping the Bitcoin supply at 21 million tokens.
Based on historical cycles, the impending halving is currently priced in by 50%, according to Jamie Douglas Coutts, a Bloomberg Intelligence analyst. According to Coutts, Bitcoin could reach $50,000 by April 2024.
Although many things have changed and the network is much stronger, Coutts noted that Bitcoin has never experienced a prolonged period of severe economic contraction. “Bitcoin cycles bottom around 12 to 18 months before the halving,” he added.
Litecoin halving
The upcoming and third halving event in Litecoin is expected to happen around August 2, 2023, according to OKLINK, which provides a 100-day countdown to this expected event.
The first halving event occurred on August 25, 2015, at a block height of 840,000. The second halving event occurred on August 5, 2019, at a block height of 1,680,000.
After every 840,000 blocks are mined (approximately every four years), the block reward is halved and will continue to decrease until the block reward per block reaches zero (around the year 2142). The block reward is currently 12.5 coins for each block and will eventually be halved to 6.25 coins per block in the next halving event.
DASH halving
Dash halving occurs on the Dash blockchain approximately every four years (or every 840,000 blocks), where the block reward for miners is halved.
The expected date for the DASH halving is June 22, 2023, according to OKLINK, which gives a countdown of approximately 58 days.
The halving event is crucial to the Dash network because it affects how many new coins are put into circulation, which affects the supply and demand dynamics of the cryptocurrency.
