On the second day after the halving, the positive effects began to take effect, and the market rebounded continuously. According to historical references, there were significant increases within 30 days after the completion of the first three halvings.
In 2012, the price rose by 26.7% within 30 days after the halving. In 2016, the price rose by 2.5% within 30 days after the halving, but then soared by 87%. In 2020, the price soared by 44% within 30 days after the halving.
Will this time be the same as before, with a slow pull for a period and then a rapid bull market climax of ten times or a hundred times? It is still impossible to judge, but the rune-playing boom in the past two days tells us an important signal.
That is, the main narrative of this year's bull market should be centered on the Bitcoin ecosystem. The launch of the Runes protocol has once again optimized the efficiency of the entire Bitcoin ecosystem.
For example, the deployment and minting of Brc20 tokens require two transactions to complete, and token claiming requires three transactions. However, Runes only requires one transaction to complete all operations and will not generate redundant and useless utxo.
What’s even more exaggerated is that a Brc20 transfer transaction only supports one recipient and one token, while Runes can support multiple recipients and multiple tokens for simultaneous transfers.
With such awesome technical support, the subsequent stories will be easy to tell, especially since there are not many good stories coming out in the Bitcoin ecosystem right now. More opportunities and projects will surely emerge in the future.
As Runes became increasingly popular, Bitcoin miners’ revenue reached 106.7 million U.S. dollars on April 20, of which 75.44% came from gas rewards, setting a new historical high.
No wonder the selling pressure from miners has not been very serious in the past two days. It turns out that miners have found a new way to make profits. There is no doubt that the biggest beneficiaries of this wave of rune mining are the miners who stick to the Bitcoin ecosystem.
From the current perspective, runes have just begun to rise, and there is no leading company like sats yet. With the advancement and development of the Bitcoin ecosystem, Tangren believes that runes are a sector that has the potential to achieve returns of more than 100 times.
In addition, a piece of news broke today that Brother Sun started a big move on the chain. According to Lookonchain monitoring, it is suspected that Brother Sun’s wallet has deposited 787 million USDT from Tron to Binance since March 31.
Also on the 31st, a mysterious wallet was created on Ethereum and withdrew 96.8 million U from Binance. The wallet then purchased 127,388 U on Binance and DEX at an average price of US$3,172.
Combined with the 168,369 Yitai that Sun bought in February, Sun has purchased a total of 295,757 Yitai (about 891 million US dollars) from Binance and DEX at an average price of 3,014 US dollars.
This piece of news caused quite a stir in the cryptocurrency circle. If it was really Brother Sun's operation, it means that at this stage, Brother Sun has already entered the market firmly. Brother Sun has already built a position. How far is it from a surge?
To take a step back, even if it was not Brother Sun's behavior, this giant whale must be making big moves next after purchasing concubines on such a large scale. Tangren thinks the biggest possibility is that he will take up a re-pledge project.
Speaking of staking, the governance token MERL, the largest staking L2 in the Bitcoin ecosystem, was launched last Friday, and to be honest, its performance was pretty average.
The reason why it is not working is that there are too many airdrops in the early stage, and the time of going online and the wrong choice of cooperation platform are also closely related. After all, the quality and strength of different users on the platform are also different.
However, the current market value of 200 million US dollars should still be underestimated by the market. If we manage it carefully in the future, there should be a certain chance of success.
In this wave of rebound, altcoins have recovered well. Many high-quality altcoins have regained most of their previously lost territory. The leverage of altcoins has been thoroughly cleared in these waves of adjustments. After the halving, the upward space for altcoins has been opened. You can communicate with Tangren privately about which high-quality altcoins are worthy of your attention in the future.
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