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Bitcoin, the biggest cryptocurrency by market value, underwent its third halving on May 11, which reduced the reward per block mined to 6.25 bitcoin from 12.5.

Next in line is zcash (ZEC), a privacy-focused cryptocurrency first created in 2016 that uses a proof-of-work (or mining) algorithm and encrypts user information within shielded transactions. Currently, it is the 26th largest cryptocurrency by market value, as per data source CoinMarketCap.

Rewards per block mined on the zcash blockchain – launched and supported by the Electric Coin Company – are scheduled to be cut by 50% from the current 12.5 ZEC to 6.25 ZEC at block 1,046,400 this year.  Zcash’s first ever halving, the block subsidy reduction is expected to happen sometime in November.

5, 2019, doubled in the first quarter of last year despite lackluster price action in bitcoin, the biggest cryptocurrency by market value and price anchor for the broader crypto market.

The belief mainly stems from the bitcoin market, which witnessed stellar bull markets in the months following its first two halvings in November 2012 and July 2016.