PDAX Gears Up for Bitcoin Halving, Anticipates Increased Market Activity Header Image

PDAX Gears Up for Bitcoin Halving, Anticipates Increased Market Activity

Cryptocurrency exchange, PDAX, is ready to navigate the potential market volatility surrounding the upcoming Bitcoin halving.

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.

PDAX CEO Nichel Gaba said during What’s Halvening? Token Tales and Toasts session at Rockwell, Makati City, on Tuesday.

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.

He added.

Before the approval of ETFs and the Bitcoin halving, we’ve been preparing our systems for it, making them more stable and secure. We work with various organizations to make the frameworks up to stuff. The idea is that if a user wants to get in on the action, there’s an easy way to do it, and there’s a secure way to do it. We are not stopping, and we’re continuing to improve our platform.

Said Vincent Tio, Head of Platform Solutions at PDAX.

What happened since the crash of Luna and the bankruptcy of FTX really made regulators aware of the risks of platforms that are unregulated. I cannot overstate the significance of a platform being regulated. Regulated means that the BSP visits PDAX and makes sure that we are processing transactions correctly, every quarter we have to report any significant change in our platform, and we’re also bound to conform to the guidelines that they set.

Gaba explained.

A lot of what the BSP and SEC have been doing in the past year and a half is not just to create new rules that can safeguard the public but to enforce already existing rules. As crypto becomes much more popular moving forward, we can expect the regulators to continue to raise the standards.

He added.

To encourage new users, PDAX is offering free Bitcoin to those who sign up and trade between March 27 and April 30, 2024. Head here for full details on this limited-time offer.

The upcoming Bitcoin halving is expected to generate significant market activity.