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Live Blog: Bitcoin Halving 2016

The bitcoin block reward is set to fall from 25 bitcoins to 12.5 bitcoins in just a few hours.

Updated Sep 11, 2021, 12:22 p.m. Published Jul 9, 2016, 1:41 p.m.
Live Blog

The bitcoin block reward is set to fall from 25 bitcoins to 12.5 bitcoins in just a few hours.

The event, which happens roughly every four years, represents a major shift in the mining landscape, and speculation has swirled about what impact the reward drop will have on the bitcoin mining ecosystem.

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CoinDesk will be live blogging today's event, providing updates on the latest speculation and commentary.

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Pudgy Penguins: A New Blueprint for Tokenized Culture

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Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.

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Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.

The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.

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Ripple-linked XRP drops 5%, opening downside risk toward $1.70

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Traders are watching $1.80 as near-term support, with $1.87–$1.90 now the key resistance zone.

What to know:

  • XRP dropped about 5 percent from $1.91 to near $1.80 as bitcoin’s pullback sparked broad risk-off selling across high-beta tokens.
  • The slide accelerated once XRP broke below key support around $1.87 on heavy volume, erasing last week’s gains before buyers stepped in near the $1.78–$1.80 zone.
  • Traders now view $1.80 as a crucial support level, with a sustained move back above roughly $1.87–$1.90 needed to signal a corrective pullback rather than the start of a deeper decline.