Bitcoin Cash (BCH) surged by 10% over the last day, hitting a high of over $700 after completing its much-anticipated reward-halving event. This event reduced the block reward for miners from 6.25 BCH to 3.125 BCH.
On the other hand, the broader crypto market remained mostly stable in the last 24 hours, while Bitcoin (BTC) saw a nearly 2% uptick during this time. The crypto community is now eyeing the upcoming BTC halving later this month.
Another Bitcoin-themed token that’s doing well is Bitcoin Minetrix. The platform has already caught the market’s attention by raising over $12.8 million in its presale.
Bitcoin Minetrix’s appeal largely stems from its integration with the Bitcoin mining ecosystem, making it a promising choice for early-stage investors.
After its halving event, Bitcoin Cash surged 10% and became one of the few gainers in an otherwise stable crypto market. The coin’s recent halving occurred at block 840,000. This event aligns with the four-year halving cycle common to Bitcoin, from which Bitcoin Cash was forked in 2017.
The effects of this milestone were quite evident in BCH’s open interest figures. Data from Coinalyze indicates that the total open interest in BCH futures rose to $663.9 million on Friday, up from $506 million just two days before the halving.
In fact, the broader investor enthusiasm pushed BCH’s price to a two-year high of $719 on 5 April. According to data from TradingView, BCH dipped to $561 on Wednesday before recovering by over 25% post-halving.
Mining expert @DavidShares highlighted on X (Twitter) that despite the reward reduction, Bitcoin Cash’s price doubled in the past month, effectively balancing the cost for miners.
With Bitcoin’s own halving expected on April 20th, history suggests a potential bull market for the token. The last halving in 2020 triggered a 1,000% surge, reaching a record high of $69,000 about a year and a half later.
Consequently, many investors are rushing to Bitcoin Minetrix for higher returns, which is an early-stage Bitcoin-themed token. The token could do well, especially while the market is eager to see the impact of Bitcoin’s upcoming halving event.
Bitcoin Minetrix ($BTCMTX) is a cloud-mining platform that allows users to earn Bitcoin through a unique process called tokenized cloud mining.
This means that instead of buying and setting up expensive mining equipment, users can simply buy $BTCMTX tokens (which give them access to a share of the mining revenue). This approach makes Bitcoin mining more accessible and cost-effective for ordinary users.
After witnessing strong investor interest, the platform recently raised over $12.8 million in its initial coin offering (ICO).
The platform is currently in phase 35 of its presale, where $BTCMTX tokens are priced at $0.0144 each. The price will increase as the presale progresses to reach a soft cap of $17.5 million.
Bitcoin Minetrix aims to increase the efficiency of cloud mining and eliminate fraudulent activities in the industry.
It operates on Ethereum to ensure high transparency and security. By holding $BTCMTX tokens, users can gain cloud mining credits, which can be exchanged for mining power.
The platform’s smart contract system automates the allocation of cloud credits and mining revenue, making the process fraud-resistant. Interested users can join the Bitcoin Minetrix Telegram channel and follow it on X (Twitter) for the latest updates.
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