BitMEX Warns Halving May Cause Transaction Delays & Withdrawal Fees Increase
Shutterstock
Main page News, Bitcoin, Exchange, Cryptocurrency Exchanges, Cryptocurrency
Hot topic
8 May
286 286

Cryptocurrency exchange BitMEX has issued a blog statement on the upcoming halving of bitcoin in which warned clients on possible temporary changes.

Will Bitcoin Halving Lead to Mass Adoption?

According to the published announcement, for the first few weeks once the bitcoin halving is done, the exchange's users "may see some delays to transaction times, and a subsequent increase in network fees for withdrawals."

The research department of the exchange says the halving might cause the bitcoin network hashrate to decline by around 30% to 35% – assuming there is no significant bitcoin price change.

"Such a decline in hashrate will result in temporarily increased transaction confirmation times – both for deposits and withdrawals," the statement says.

eToro analyst Mati Greenspan previously said on his official Twitter account that the annual inflation rate of the largest crypto by market cap will fall by half after the crypto's halving scheduled for May 12.

Pantera Capital: Halving Impact May Boost Bitcoin's Price Up to $115K

According to Greenspan, the inflation rate will go from the current 3.65% to 1.8% within two weeks. This is a significant drop, since this indicator stood at 3.41% in 2019.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error
Close