The highly anticipated Bitcoin halving is almost here, set to shake up the crypto market on April 20.
This major event, which happens roughly every four years, will see the reward for mining new Bitcoin blocks cut in half.
In this article, we’ll uncover five coins that could surge in the halving’s aftermath.
1. Bitcoin (BTC)
It makes sense to start with the headliner – Bitcoin (BTC) itself.
As the original and largest cryptocurrency, Bitcoin’s four-yearly halving events have historically been catalysts for significant price appreciation.
The upcoming halving this month will see the BTC mining reward reduced from 6.25 to 3.125 coins per block.
This scheduled supply cut is a core part of Bitcoin’s code, designed to keep inflation in check and ensure BTC remains a deflationary asset over time.
With fewer Bitcoins minted post-halving, basic economic principles suggest that demand might start outpacing supply – potentially driving up prices.
Bitcoin has rallied following the previous two halving events in 2016 and 2020, with the latter preceding the famous bull run that saw BTC’s price soar above $65,000 for the first time.
So, while past performance does not guarantee future results, many investors are betting that the 2024 halving will be another bullish catalyst for Bitcoin.
2. Bitcoin Minetrix (BTCMTX)
As a project looking to revolutionize Bitcoin mining, Bitcoin Minetrix (BTCMTX) could be well-positioned to benefit from the upcoming halving.
This is because Bitcoin Minetrix introduces a new “Stake-to-Mine” system that lets users mine BTC simply by staking the project’s native BTCMTX token.
Through this approach, Bitcoin Minetrix solves several key challenges associated with the crypto-mining process.
There’s no need to purchase expensive hardware rigs or deal with the sky-high electricity costs of running power-hungry setups.
Instead, by staking BTCMTX, users can earn mining credits to extract BTC through the power of cloud computing.
With the halving looming, the revenue that miners can generate per block will be slashed, so individuals will be hit the hardest.
However, Bitcoin Minetrix’s model could make running a profitable rig more viable since stakers don’t have to deal with hefty overhead costs.
With over $12.8 million raised in its presale already and BTCMTX tokens on offer for just $0.0144, this is clearly an under-the-radar project that could boom post-halving.
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3. Ethereum (ETH)
While it doesn’t share Bitcoin’s halving mechanism, Ethereum (ETH) could still benefit from its counterpart’s potential price appreciation.
As the second-largest crypto by market cap, Ethereum has historically shown a strong positive correlation with Bitcoin’s price movements.
When BTC rallies, ETH has tended to follow suit as investment capital flows into the crypto market.
The last Bitcoin halving in 2020 preceded a historic bull run that saw ETH’s price surge from around $190 to $4,300 in May 2021.
With institutional adoption growing and Ethereum staking more popular than ever, many crypto analysts expect ETH to follow suit if this month’s halving sparks another crypto bull cycle.
4. Binance Coin (BNB)
Another coin that’s not directly impacted by Bitcoin’s supply squeeze but could emerge as a beneficiary is Binance Coin (BNB).
As the token powering the world’s largest crypto exchange, BNB stands to benefit from surges in new users and trading activity.
During previous bull markets, Binance saw a massive surge in signups as retail investors sought crypto exposure.
More users equal higher trading volume and rising demand for BNB, which is used for platform fees.
BNB has already experienced impressive growth in recent months as Binance’s ecosystem expands deeper into areas like DeFi and gaming.
If history repeats itself and Bitcoin’s halving leads to another bull run, crypto mania could massively benefit Binance Coin.
5. Litecoin (LTC)
Rounding off our list of coins that could benefit from the Bitcoin halving is Litecoin (LTC).
As one of the earliest Bitcoin offshoots, Litecoin has developed a strong fanbase and typically exhibits a positive correlation with its bigger counterpart.
During past bull runs kicked off by halvings, Litecoin has tended to follow Bitcoin’s lead.
LTC witnessed huge gains in 2016 and 2020 as investors looked for cheaper alternatives to join the hype train.
While Litecoin has its own use cases, such as for cheaper payments, its price action remains heavily influenced by Bitcoin.
So, as an established “blue chip” with a loyal following, Litecoin could see major gains if this cycle plays out like previous ones.
