Kaching! Kaspa (KAS) Climbs 18% As Bitcoin Mining Heavyweight Goes All In
June 27 2024 - 10:30AM
NEWSBTC
The world of cryptocurrency witnessed a surge in Kaspa (KAS), with
its price jumping nearly 18% in the last week. This sudden bullish
trend coincides with a major announcement from industry leader
Marathon Digital (MARA), stirring excitement through the crypto
ecosystem. Related Reading: Can Terra Classic Rise From The Ashes?
Analyst Foresees 1,500% Price Increase Marathon Makes A Move Into
The Kaspaverse On Wednesday, June 26th, Marathon Digital, a
behemoth in Bitcoin mining, sent ripples through the crypto market
by revealing they had begun mining Kaspa. This strategic move
signifies a potential diversification of their revenue stream,
venturing beyond the well-trodden path of Bitcoin. Kaspa, a fellow
proof-of-work cryptocurrency, boasts a unique advantage: speed.
With a current value of a little over $15 million, Marathon has
mined close to 94 million KAS thus far. #Kaspa has clearly broken
through the 18 cent barrier and is heading for 19 cents! After that
we can expect a new all-time high for $KAS!#crypto #pow $BTC
pic.twitter.com/ruNt9kfeoL — KASPA Enthusiast 𐤊 (@KASPAEnthusiast)
June 27, 2024 Unlike Bitcoin’s 10-minute block processing time,
Kaspa leverages a BlockDAG (Directed Acyclic Graph) architecture,
enabling it to churn out multiple blocks simultaneously. This
translates to faster transaction processing, a potential
game-changer in the ever-evolving world of digital payments.
Aligning With Profitability: Kaspa’s Allure Marathon Digital’s
decision to embrace Kaspa mining wasn’t solely driven by
technological innovation. The company clearly sees an opportunity
for increased profitability. Kaspa currently offers miners the
potential for higher block rewards compared to Bitcoin.
Additionally, Marathon secured a significant amount of specialized
Kaspa mining hardware (ASICs) last year, estimated to generate
profit margins as high as 90% under optimal conditions. Adam Swick,
Marathon’s Chief Growth Officer, emphasized the strategic
importance of this move: “By mining Kaspa, we’re establishing a
revenue stream separate from Bitcoin, one that directly aligns with
our expertise in digital asset computing.” Swick added that the
organization’s existing infrastructure, strong relationships with
hardware manufacturers, and a robust financial reserve positions
them “perfectly to mine Kaspa and capitalize on the high margins it
offers.” Is This The Dawn Of A New Era For Kaspa? The news of a
Bitcoin giant entering the Kaspa arena has undoubtedly bolstered
investor confidence in the cryptocurrency. The price surge reflects
this newfound optimism, with Kaspa inching closer to its all-time
high. However, the cryptocurrency market remains notoriously
volatile. While Kaspa’s technological edge and potential for
profitability are undeniable, its future trajectory hinges on
various factors, including wider adoption, developer activity, and
overall market sentiment. Related Reading: Solana Trading Plunges
93% In 24 Hours: Where Did The $100 Billion Go? KAS Price Action
With a market size of $4.3 billion as of the time of publication,
the price of Kaspa was trading at $0.1799, placing it in the top 25
cryptocurrencies. Additionally, Kaspa’s daily trade volume has
increased by over 130% to $140 million. The altcoin is currently
trading near its all-time highs and may be about to reach a price
discovery. Featured image from LiveAbout, chart from TradingView
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