比特幣減半：發行量減少、費用飆升和里程碑式的信念

比特幣第四次減半事件發生在周五，區塊獎勵降至 3.125 BTC。減半後，價格穩定，但由於 Runes 代幣發行協議的推出，網路費用飆升。 Grayscale的比特幣迷你信託基金收取0.15%的費用，已成為最實惠的現貨比特幣ETF。在一項具有里程碑意義的判決中，Avraham Eisenberg 被判在價值 1.1 億美元的 Mango Markets 計劃中犯有欺詐和市場操縱罪，這是加密貨幣行業首次此類定罪。分析師現在正在監測減半的長期影響，包括其對網路安全的影響以及元層推動區塊空間需求的潛力。

Bitcoin's Fourth Halving: Stabilizing Prices, Surging Fees, and Market Manipulation Conviction

比特幣第四次減半：價格穩定、費用飆升和市場操縱定罪

Bitcoin Halving: A Triumphant Reduction with a Sudden Fee Spike

比特幣減半：費用突然飆漲的勝利減半

On Friday, Bitcoin (BTC) underwent its fourth halving event, a significant milestone that reduces the frequency of new bitcoin generation. This halving, occurring approximately every four years, plays a crucial role in Bitcoin's monetary policy. The most recent halving event has witnessed a reduction in the block reward, falling from 6.25 bitcoins to 3.125 bitcoins per block.

週五，比特幣（BTC）經歷了第四次減半事件，這是一個重要的里程碑，降低了新比特幣產生的頻率。這種減半大約每四年發生一次，在比特幣的貨幣政策中扮演至關重要的角色。最近的減半事件見證了區塊獎勵的減少，從每個區塊 6.25 比特幣降至 3.125 比特幣。

While the halving did not cause immediate price fluctuations, it sparked a surge in Bitcoin network transaction fees. This spike was attributed to the launch of Runes, a novel meta protocol that enables digital token minting directly on the Bitcoin blockchain. The surge in demand for block space, particularly for inclusion in the historic halving block, further contributed to the fee increase.

雖然減半並沒有立即引起價格波動，但引發了比特幣網路交易費用的飆升。這一高峰歸因於 Runes 的推出，這是一種新穎的元協議，可以直接在比特幣區塊鏈上鑄造數位代幣。對區塊空間的需求激增，特別是對歷史性減半區塊的需求，進一步推動了費用的上漲。

Grayscale's Bitcoin ETF: Unveiling the Most Affordable Option in the Market

Grayscale 的比特幣 ETF：推出市場上最實惠的選擇

In a bid to enhance its competitiveness in the burgeoning bitcoin exchange-traded fund (ETF) market, digital asset manager Grayscale has announced plans to introduce a new spot bitcoin ETF named the Bitcoin Mini Trust. This offering boasts a significantly lower management fee of 0.15%, making it the most cost-effective option in the market. As part of this strategic move, the existing Grayscale Bitcoin Trust (GBTC) will transition a portion of its assets into the new Mini Trust.

為了增強其在蓬勃發展的比特幣交易所交易基金 (ETF) 市場的競爭力，數位資產管理公司 Grayscale 宣布計劃推出一款名為 Bitcoin Mini Trust 的新現貨比特幣 ETF。該產品的管理費顯著降低至 0.15%，使其成為市場上最具成本效益的選擇。作為這項策略舉措的一部分，現有的灰階比特幣信託（GBTC）將把部分資產轉移到新的迷你信託。

Landmark Conviction in a Crypto Market Manipulation Scheme

加密貨幣市場操縱計畫中具有里程碑意義的定罪

The crypto world has witnessed its first successful prosecution for market manipulation. A jury in New York has found Avraham Eisenberg guilty of defrauding and manipulating the Mango Markets DeFi platform, resulting in a $110 million scheme. Eisenberg exploited the platform by artificially inflating the value of Mango Markets' native token and futures contracts. The conviction signals a significant shift in law enforcement's approach to regulating the decentralized finance (DeFi) ecosystem.

加密世界首次成功起訴市場操縱行為。紐約陪審團裁定 Avraham Eisenberg 犯有欺詐和操縱 Mango Markets DeFi 平台罪，造成 1.1 億美元的詐騙。艾森伯格透過人為抬高 Mango Markets 原生代幣和期貨合約的價值來利用該平台。該定罪標誌著執法部門監管去中心化金融（DeFi）生態系統的方法發生重大轉變。

Post-Halving Market Outlook: Eyes on Long-Term Effects

減半後的市場前景：著眼於長期影響

Market observers are closely monitoring the aftereffects of Bitcoin's latest halving. While the immediate price impact remains a focal point, analysts are also examining potential long-term implications. The emergence of meta layers like Runes and the heightened demand for block space suggest that increased network security could be a byproduct of the halving. However, the potential for higher base layer fees may steer users toward Layer 2 networks such as the Lightning Network and sidechains.

市場觀察家正在密切關注比特幣最近減半的後果。雖然直接的價格影響仍然是焦點，但分析師也在研究潛在的長期影響。像符文這樣的元層的出現以及對區塊空間的需求增加表明，網路安全性的提高可能是減半的副產品。然而，更高的基礎層費用的潛力可能會引導用戶轉向第二層網絡，例如閃電網絡和側鏈。

Despite the halving's typical tendency to induce bull runs, market experts remain cautious, citing research from Deutsche Bank and JPMorgan that suggests the event may have already been factored into the market. Nonetheless, shares of bitcoin miners, including Riot Platforms, Hut8, and Marathon Digital, have experienced substantial gains, indicating that factors beyond the halving could be driving investor sentiment.

儘管減半通常會引發牛市，但市場專家仍然保持謹慎態度，他們引用德意志銀行和摩根大通的研究表明，這一事件可能已經被納入市場因素。儘管如此，包括 Riot Platforms、Hut8 和 Marathon Digital 在內的比特幣礦商的股價卻大幅上漲，顯示減半以外的因素可能正在推動投資者情緒。

Conclusion: A Defining Moment in Bitcoin's Evolution

結論：比特幣演變的決定性時刻

The fourth Bitcoin halving has marked a transformative chapter in the cryptocurrency's history. While short-term price fluctuations remain an intriguing topic, the halving's long-term effects on network security and the adoption of Layer 2 solutions are equally noteworthy. The conviction of Avraham Eisenberg for market manipulation further underscores the evolving regulatory landscape within the crypto space. As the crypto industry continues to mature, these developments are shaping its future trajectory, signaling a dynamic and evolving ecosystem.

比特幣第四次減半標誌著加密貨幣歷史上的變革性篇章。雖然短期價格波動仍然是一個有趣的話題，但減半對網路安全和第 2 層解決方案的採用的長期影響同樣值得注意。 Avraham Eisenberg 對市場操縱的定罪進一步凸顯了加密貨幣領域不斷變化的監管格局。隨著加密貨幣產業的不斷成熟，這些發展正在塑造其未來的軌跡，標誌著一個充滿活力和不斷發展的生態系統。