The most recent halving in May 2020 saw Bitcoin’s price soar from approximately $8,000 to almost $69,000 in late 2021. Similarly, after the 2016 halving, Bitcoin’s price substantially increased to $20,000 by the end of 2017. Following the first halving in 2012, the price of Bitcoin surged from less than $12 to about $1,000 within a year. Historical data indicates that Bitcoin’s price has experienced significant rallies after previous halving events. This scarcity, combined with growing demand, has historically driven up the price of Bitcoin. With the remaining 29 halving events, Bitcoin’s predetermined scarcity is often cited as one of the primary factors contributing to the asset’s potential value appreciation. What to expect from the remaining 29 Bitcoin halving events Additionally, it curbs Bitcoin’s inflation by reducing new coin creation, aligning with its deflationary design. This impacts supply and demand, causing price fluctuations. This development enables users to seamlessly transfer fiat funds to their accounts on the platform, marking a significant stride towards mainstream integration of cryptocurrency.Besides reducing miner rewards, the halving event also affects the number of coins in circulation. In an effort to further solidify its presence in Kazakhstan’s digital asset landscape, Binance launched a regulated digital asset platform in the country in partnership with local Freedom Finance Bank. Binance is actively supporting the pilot through its technical solution, BNB Chain, signifying a noteworthy convergence between traditional financial institutions and the blockchain-based cryptocurrency industry. Notably, one of the pivotal partners in this endeavor is Binance, the world’s largest cryptocurrency exchange. Initially, NBK’s Deputy Governor, Berik Sholpankupov, outlined a vision centered on a harmonious “collaboration between traditional finance and DeFi,” aimed at significantly enhancing financial inclusion and bolstering international trade.Īt present, the CBDC pilot in Kazakhstan has progressed to a controlled environment pilot phase involving real consumers and merchants. ![]() The journey towards the digital tenge began in February 2023, with a target launch date set for 2025. However, its primary role revolves around developing a robust “digital financial infrastructure,” with a primary focus on bringing the digital tenge to life. ![]() This includes crucial functions such as interbank clearing services, money transfers, and digital identification. The newly formed National Payment Corporation (NPC) is a reorganization of the Kazakhstan Center for Interbank Settlements and is tasked with overseeing the national payment system. Kazakhstan’s National Bank (NBK) has taken a significant step towards embracing the digital economy by creating a dedicated entity responsible for leading the development and rollout of its central bank digital currency (CBDC), known as the digital tenge. ![]() Launch deadline for digital tenge is 2025.National Payment Corporation will look into interbank clearing services, money transfers and digital identification.
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