At the recent "What's Halvening? Token Tales and Toasts" event in Rockwell, Makati City, PDAX conveyed its complete preparation for expected market shifts in digital currencies due to the next Bitcoin halving.

This event, occurring approximately every four years, reduces the reward for mining new blocks by half. The last halving in May 2020 cut the rewards from 12.5 to 6.25, slowing down the release of new Bitcoins into the market and typically leading to heightened market activity and significant price shifts.

The forthcoming halving is anticipated to occur on April 19 or 20.

The build-up to the halving has been amplified by the U.S. Securities and Exchange Commission's endorsement of spot exchange-traded funds (ETFs), making it easier for both retail and institutional investors to purchase and engage with Bitcoin. This move has been instrumental in pushing Bitcoin’s price to an all-time high of $73,737.94.

Nichel Gaba, PDAX's CEO, highlighted the unique context of this halving, noting, "This is the first halving event where there are already institutional participants in the crypto market. Now that institutions are in the crypto space, we can expect whatever excitement propelled retail investors to take Bitcoin to $72,000. You can just imagine how much more that would be when institutions are also in the market. That’s why this upcoming halving is truly important”.

“When Bitcoin started going up in price, and customers started coming to our platform. That was a real test of our platform five years ago. That's bound to happen again. But I guess the difference between that happening four years ago versus today, as far as feedback is concerned, is that our platform is ready,” he said when asked about the difference this will be for PDAX.

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What is PDAX?

Launched in 2018 and regulated by the Bangko Sentral ng Pilipinas, PDAX stands as the country's leading cryptocurrency exchange, offering a secure platform for trading over 70 assets, including cryptocurrencies and tokenized bonds, with plans to expand its asset offerings.

PDAX is a homegrown digital asset exchange in the Philippines, a safe, easy-to-use platform for Filipinos to buy and sell virtual currencies and assets. The company received its license from the Bangko Sentral ng Pilipinas in 2018 and was officially launched in the Philippine market in 2019. 

For more information about PDAX, visit the official website at https://pdax.ph/.

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As part of the PDAX commitment to user engagement and market participation, the platform has announced that they are giving away free Bitcoin to new users who sign up, verify their accounts, and start trading between March 27 and April 30, 2024. Users can check out the full mechanics on their official website: https://learn.pdax.ph/post/next-money-move-free-btc. 

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