Several important events for cryptocurrencies will take place in April, including halving, technical changes and conferences, writes RBC Crypto.
April 3, 2024
Halving of Bitcoin Cash cryptocurrency
Bitcoin Cash is the most popular fork (modified copy) of Bitcoin, and its program code also includes halving—a planned reduction in the reward of miners for a block of transactions added to the blockchain. Starting April 3, the block reward will decrease from the current 6.25 to 3.125 BCH.
The Bitcoin Cash (BCH) rate has almost tripled since the beginning of March, the coin entered the top 15 largest crypto assets by capitalization of about $12 billion.
In March, the Coinbase exchange announced the start of trading in BCH futures on its own derivatives platform, which gave impetus to interest in the coin.
April 5, 2024
Binance rejects USDC on Tron network
The largest crypto exchange Binance will stop supporting operations with the USDC stablecoin on the Tron network. The issuer of USDC is the American company Circle; the stablecoin is among the top 10 largest crypto assets with a capitalization of more than $32 billion. Like its competitor Tether, the company issues a token on several networks, the most popular of which is Ethereum.
At the end of February, Circle announced that they would refuse to issue a token on the Tron network (TRC-20 standard). The head of the Tron ecosystem, Justin Sun, then called the company’s decision one-sided.
April 15-16
Blockchain Life Forum 2024 in Dubai
Dubai will host a major two-day crypto forum Blockchain Life 2024, which is expected to be attended by about 8,000 people.
Among the conference speakers are the head of the Tether company Paolo Ardoino, the head of the Bybit exchange Ben Zhou, the head of the BitMEX exchange Stefan Lutz, the founder of the Tron ecosystem Justin Sun, the co-founder of Chainlink Sergey Nazarov, as well as representatives of SingulaityNET, Osmosis, Manta, LayerZero, Celo, Chiliz and other popular crypto projects .
April 18-19, 2024
TOKEN2049 conference in Dubai
Another major crypto conference will be held in Dubai with the participation of the heads of large crypto companies and representatives of the crypto industry. Among the TOKEN2049 speakers is the founder of Telegram, Pavel Durov.
The event will feature speeches by Binance CEO Richard Teng, investor Balaji Srivasan, former head of the BitMEX exchange Arthur Hayes, Ethereum and Polkadot co-founder Gavin Wood, Circle CEO Jeremy Allaire and other eminent industry representatives.
Representatives of the following crypto projects will also have the floor at the conference: Chainlink, NEAR, Polygon, Tether, Solana, Avalanche, Monad, zkSync, Sui, Celestia, Aptos, EigenLayer, Pendle, Ethena, Worldcoin and others.
April 19-20, 2024
Bitcoin halving
Halving is a reduction in the volume of new bitcoins issued and is an extremely important factor for the market. Historically, halving was a harbinger of an increase in the price of Bitcoin and the entire crypto market.
After the fourth halving, the miners’ reward for a block of transactions added to the blockchain will be reduced from the current 6.25 to 3.125 BTC. Halving is built into the Bitcoin program code and occurs upon reaching every 210 thousand such blocks. There are now more than 837 thousand completed blocks in the Bitcoin blockchain, halving will occur on block number 840000. Blocks are completed by miners on average every 10 minutes. According to expert estimates, given the current load on the network, halving is expected on April 19 or 20.
Halving will affect the business model of Bitcoin miners, for whom block rewards are the main income. Mining companies are trying to scale, preparing for a drop in earnings. According to various estimates, if the price of Bitcoin falls below $42-48 thousand, unprofitable miners will most likely leave the game or work at a loss.
April 30, 2024
Binance founder Changpeng Zhao sentenced in the USA
In November 2023, the Binance exchange and its then head Changpeng Zhao pleaded guilty to violating US anti-money laundering rules and sanctions. As part of a sweeping settlement with the government that allowed the exchange to continue operating, Zhao agreed to resign as head of the exchange and pay a fine of $50 million. For Binance, the fine amounted to $4.3 billion.
The founder of the world's largest cryptocurrency exchange agreed to post bail in the amount of $175 million to remain free until sentencing, but in November 2023, US prosecutors requested that Changpeng Zhao be banned from leaving the country pending trial.
According to the charges, Zhao could face up to one and a half years in prison. The court hearing is scheduled for April 30.
Source: Cryptocurrency
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