Dear Hoo users,
This year, the most exciting thing is the probably third halving of Bitcoin. Many other cryptocurrencies will also enable their first halving in 2020 since their birth.
Therefore, Hoo collected the information related to cryptocurrency halving, hoping to bring some insights to our users.
What is Halving?
In the cryptocurrency space, the term halving refers to a process that reduces the issuance rate of new coins. More precisely, halving is the periodical reduction of the block subsidy provided to miners. According to the preset of Satoshi, the creator of Bitcoin, the block subsidy will be halved every four years starting from 50 BTC/block. The halved subsidy in 2020 will be 6.25 BTC/block.
2020: Year of Cryptocurrency Halving
2020 marks the year of cryptocurrency halving. According to the statistics, ETC will be halved in March, BCH and BSV will be halved in April, BTC and DASH will be halved in May, ZEC will be halved in October. Below is a detailed chart:
According to the statistics, from Dec. 19, 2019 to Feb. 13, 2020, BSV price pumped 263.25%, ETC pumped 211.97%, DASH pumped 197.93% and BCH pumped 161.61%. All of them doubled or even tripled their price. Although the price of BTC is not as good as them, it went up nearly 50%.
Based on the historical statistics, before and after the reduction, the cryptocurrency will show a satisfying market price. Let’s take a look at Bitcoin:
As shown on bitcoinblockhalf.com, there are about 120 days to the third bitcoin halving. We stand a good chance to invest during this period.
Hoo.com Cryptocurrency Halving Column
To help our users seize the chance prior to the third Bitcoin halving, we have collected the information of all coins that will halve or reduce block subsidy this year. Below is a table showing what you can do with these coins on Hoo.com.
Hoo.com is now supporting the spot trading all the above coins except DASH. ETC, BCH, BSV, BTC contracts (futures) trading has been enabled. All which the max leverage of ETC and BCH is 50x, that of BSV is 33x and that of BTC is 100x.
Besides, Hoo financing products include ETC saving/fixed deposit, BCH fixed deposit, BBSV savings/fixed deposit and BTC savings/fixed/dual currency deposit. We also support BTC and BCH loans with a daily interest as low as 0.05%.
The nearest halving would be the ETC halving on March 5, 2020. Are you ready to take the challenge with Hoo?
Feb. 14, 2020