Richard Teng, CEO of Binance, said that the upcoming fourth Bitcoin halving is unique. In addition to the breakthrough growth in institutional interest and participation in ETFs, another major trend in the crypto space today is the frequent Layer 2 and DeFi activities on the Bitcoin network, thanks to the popularity of the Ordinals protocol and Bitcoin inscriptions. Teng said that historically, the price of Bitcoin has risen within six months after each halving event. The reduction in the supply of new coins may be the reason for the market's reaction to each event, but the room for further growth also depends on a series of factors, such as overall market sentiment and adoption.