Tamilnadu News Update

Bitcoin Breaches $63K as CoinEx Teases Bitcoin Halving 2024 Promo Video

Mysterious Billboards Hint at Upcoming Bitcoin Halving Campaign Earlier this month, Bitcoin crossed the historic $63,000 price threshold for the first time since December 2021. As Bitcoin continues its rally, curious citizens in Istanbul and Manila were greeted with an unusual sight on February 26th- a large billboard advertising a Bitcoin Halving 2024 promo video with the statement “Bitcoin Halving, a story of Less is more”. The mysterious advertisement piqued public interest and speculation over who was behind it.

What is Bitcoin Halving? 

Occurring roughly every four years, Bitcoin Halving refers to a built-in mechanism that cuts Bitcoin’s block reward – the amount of Bitcoin miners receive for processing blockchain transactions – by 50%. The upcoming halving, expected in 2024, will reduce the block reward from 6.25 bitcoins to 3.125 bitcoins. This predictable tightening of issuance reduces the inflation rate over time, making Bitcoin an increasingly scarce digital asset, like “digital gold”.  As bitcoin becomes scarcer, halvings are seen as bullish events that push up its price over the long term. The previous two halvings preceded Bitcoin’s largest historical price rallies and that’s why this milestone is hugely important to the crypto industry.

CoinEx Revealed as Creator of Teaser Ads

Given the importance of Bitcoin halvings to the crypto space, the mysterious outdoor ads signaled someone’s big marketing play around the anticipated 2024 event. Shortly after the billboards appeared, CoinEx, a global cryptocurrency exchange, claimed ownership of the advertisement on their social media channels. The unconventional outdoor advertising and subsequent video have sparked debate – is this merely an attention-grabbing marketing ploy by CoinEx, or a genuine homage to a genuine tribute to the monumental Bitcoin halving event?

Known for its “professionalism” brand ethos, CoinEx is likely aiming to educate crypto newcomers about Bitcoin halving and position itself as the intuitive and easy-to-use crypto trading platform with the mission of empowering people through crypto. The exchange offers a professional, robust, and seamless trading experience with 880+ cryptocurrencies available for trading, tailored for veteran and novice users alike. As the countdown continues toward the 2024 halving, CoinEx has planted its flag and piqued public intrigue through unconventional advertising. Many within the crypto space are watching closely to better understand the motivations behind it. We will continue tracking this unfolding story and provide updates as CoinEx releases more details about their Bitcoin halving 2024 campaign. Interested readers can also stay tuned on the full Bitcoin Halving 2024 video across CoinEx’s official Twitter account and YouTube channel on the 2nd of March.   

About CoinEx

Established in 2017, CoinEx is a global cryptocurrency exchange committed to making trading easier. The platform provides a range of services, including spot and margin trading, futures, swaps, automated market maker (AMM), and financial management services for over 5 million users across 200+ countries and regions. Since its establishment, CoinEx has steadfastly adhered to a “user-first” service principle. With the sincere intention of nurturing an equitable, respectful, and secure crypto trading environment, CoinEx enables individuals with varying levels of experience to effortlessly access the world of cryptocurrency by offering easy-to-use products.