Bitcoin’s halving event could increase bets on related networks and ecosystem tokens, with traders expecting tokens such as STX, RUNE, and ORDI to rise.
Halving reduces the rate at which new coins are created and lowers the available new supply. The current block reward is 6.25 BTC, and it will drop to 3.125 BTC after the halving. This event has historically preceded a bull market for the token. “There exists a large, untapped pool of capital within the Bitcoin ecosystem that remains dormant, and surprisingly few listed assets that traders can use to gain exposure to the narrative,” the OTC desk of trading firm Wintermute told CoinDesk over email.
THORChain’s RUNE and Stack’s STX have been among the top-performing tokens in the past year, CoinGecko data shows, tracking a bitcoin rise. Meme coin ordi – a nod to the Ordinals protocol on Bitcoin – hassaid in an email that meme coins and the upcoming Runes protocol could rile up risky bets in the bitcoin ecosystem.
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