Bitcoin halving interest higher than ever with under 12 hours left to go
With less than 12 hours remaining until the next Bitcoin halving, online interest in the event has hit its highest rate, according to detailed tracking information provided by blockchain analytics platform Santiment.
Santiment is tracking social volume and dominance around the event, with volume spiking to its second-highest level ever and dominance reaching a new all-time high at 3.87% of crypto social activity.
Throughout this year, interest in the halving has seen peaks and troughs, with notable spikes in volume in February and March, followed by a gradual increase throughout April. However, its dominance in the broader crypto conversation was insignificant until the past week. Interest has doubled over the past seven days while Bitcoin price has tumbled from over $70,000 to as low as $59,000.
Intriguingly, interest in the event has differed across social platforms. Mentions on Telegram are down 90% from the last halving in 2020. Reddit, however, has seen a consistent surge in halving related conversations, breaking the 2020 peak several times throughout 2024. Still, Reddit mentions have also cooled off today and are around half the level seen the day before the halving in 2020.
Twitter shows a unique pattern with spikes in activity in May 2022 and June 2023 before a recent surge in recent days. While Twitter mentions have not quite hit the levels seen in 2020, they are within 10%.
Bitcointalk forums have seen sustained yet meager interest in the halving, with less than half the interest in 2020.
Thus, while the total number of conversations regarding the halving has not reached the past halving euphoria, it is a more significant part of the conversation than ever before. Further, in terms of the wider world, Google Trends has the Bitcoin halving on track to break all previous records by a large margin.
As of press time Bitcoin has risen around 7% to trade around $64,000 as the halving nears.
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Text source: CryptoSlate
