Richard Teng, CEO of the world’s largest cryptocurrency exchange Binance, believes that this year’s Bitcoin halving is “unique.”
The Binance CEO commented, “This year’s halving is unique in terms of coinciding with some other positive developments for Bitcoin and the overall crypto ecosystem.”
Halving, which occurs every four years in Bitcoin, reduces the circulating new BTC amount by half. Teng noted that the Bitcoin price has risen in the first six months following past halvings.
Teng said, “In addition to the ETF move attracting institutional interest, another major development in the crypto space today is the explosion originating from the Ordinals protocol and Bitcoin inscriptions, observed in the Layer 2 and DeFi activities in the Bitcoin network.”
The Binance CEO said that the further increase in crypto markets is based on various factors and made the following statement:
“While the abovementioned creates an optimistic picture for BTC and the overall crypto market, it is crucial for investors, especially those new to the crypto space, to keep their expectations in check. There is no guarantee of sudden price changes after the halving, and its real significance will be revealed in longer trends in terms of value, liquidity, adoption, and the perception of crypto as an asset class.”
