For most cryptocurrencies, halving is expected at some point. Block reward halving is where the new coins generated by the blockchain are halved. That means that the supply of the coins reduces but the demand supposedly remains the same. The higher demand than supply pushes the price up, and that is why miners generally anticipate halving.
Even though the price is usually predicted to increase, BTC (Bitcoin) halving proved otherwise. It slightly skewed the law of demand and supply.
Halving also helps the blockchain to be scalable and helps the coin not to exceed its market cap. As a general rule of thumb, the supply should never exceed the market cap.
Many cryptocurrency projects will experience block reward halving in 2021, but the four main ones to look out for include:
This coin expects to undergo halving in a few days, on January 25th, once the chain attains a maximum height of 4,700,000. This will mean that the miner’s reward of 200 XVG every 30 seconds will be reduced to 100 XVG.
Even though it is a few days before the halving event, nothing much has changed. The coin’s supply is still the same in the market, which means the situation may change after the event.
Just like many cryptocurrencies, Verge has experienced a roller-coaster of price shifts. It hit an all-time high of $0.3 end of 2017 and simultaneously dropped to $0.001 in 2020. 2021 has been a good year for the crypto as it was able to recover and attain a new all-time high with a growth of 219% from November 2019 to date. Its fortunes have been influenced by BTC (Bitcoin), which is like the anchor for other coins.
Its halving is anticipated to happen on February 7th, making the supply of Tomo coins drop from 2 million to 1 million.
For the Tomochain blockchain, the miner’s rewards will reduce from 250 coins to 125 coins every two seconds. Its halving is rumored to the second and the last. From the halving event, the Tomo coins’ issuance will remain the same until it hits its market cap of 100,000,000.
Tomochain is a Singapore-based peer to peer lending platform that used a proof-of-stake consensus mechanism and is still compatible with the Ethereum Virtual Machine.
As for Vertcoin, the halving event is scheduled to happen on December 8th, which will make the coins issued to miners reduce from 25 to 12.5 VTC per block.
Vertcoin was initially a forked from Litecoin back in 2014 due to resistance to ASIC mining machines invented for Litecoin. Vertcoin is not mined with ASIC machines but rather with GPU machines.
Although Vertcoin ranked highly among the top 100 by market capitalization at one point, it faced a 98% drop end of 2017. Currently, it ranks in the mid-500s.
This may happen at the end of the year or early next year. The anticipated halving event will cut the mining reward from 5000 RVN to 2500 RVN per block.
Ravencoin is a platform launched in 2018 to promote the registration and trading of real-world assets on the blockchain. Overstock fueled the company by investing in it just a few months after its launch.
Ravencoin has not been spared either in terms of volatility. It experienced an all-time high in June 2019, trading at $0.08. In November 2020, it was at its lowest but has since gained by 48% and is currently trading at $0.016.