Bitcoin Cash just went through its first halving

Bitcoin Cash (BCH), one of bitcoin’s forks and the fourth-largest cryptocurrency by market capitalization, has just undergone its first halving at block number 630,000.

The event, which occurred at 10:19 am UTC on Wednesday, will see the amount of BCH produced with each new transaction block reduce from 12.5 BCH to 6.25 BCH. As a result, BCH miners can expect to earn lower rewards.

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Bitcoin Cash miners generated $13.34 million in March from block subsidies alone and less than $4,200 from fees. If the prices of Bitcoin Cash remain at the same level as they did in March, miners would only generate ~$6.7 million from subsidies as the subsidy gets cut in half, according to The Block's research. 

Bitcoin Cash's current market capitalization stands at about $4.9 billion, according to CoinMarketCap. That figure is over 27 times lesser than bitcoin's current market capitalization of over $133 billion.

Bitcoin’s other fork, Bitcoin Satoshi's Vision (BSV), is also expected to complete its halving in less than two days at block number 629,775. Bitcoin’s halving, on the other hand, is expected to occur sometime next month.

About Author

Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.