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Kaspa Price Jumps 13% As Bitcoin Mining Giant Marathon Digital Mines the Altcoin

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10 months ago

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KAS, the proof-of-work native cryptocurrency of the Kaspa blockchain, has surged by a staggering 13% in the last 24 hours on the news that Bitcoin Mining giant Marathon Digital has started mining this altcoin. As of press time, the Kaspa (KAS) price is trading at $0.1792 with a market cap of $4.3 billion thereby making its way into the top 25 cryptocurrencies.

Also, the daily trading volume for Kaspa has surged by a massive 132% to $141 million. Currently, the Kaspa price is trading close to its all-time high levels and could be heading up for a price discovery.

Marathon Digital Starts Mining Kaspa

In its official announcement on Wednesday, June 26, Bitcoin mining giant Marathon Digital (NASDAQ: MARA) announced that it has started mining the proof-of-work cryptocurrency Kaspa.

Just like Bitcoin, Kaspa is a fully scalable, decentralized, open-source Layer-1 protocol that employs the proof-of-work consensus mechanism. But unlike Bitcoin which produces one block every ten minutes, Kaspa leverages the BlockDAG (Directed Acyclic Graph) architecture which allows it to produce multiple blocks simultaneously.

The Kaspa blockchain is capable of processing one block every second thereby facilitating faster transactions. It also awards Kaspa miners to earn more block rewards in a given time frame. This particularly could be the reason behind Marathon digital dipping its toes into mining Kaspa. Kaspa is currently the fifth-largest proof-of-work network by market cap. Also, the current block reward for Kaspa is 103.83 KAS.

Also Read: Bitcoin Miner Reserves Drop to 14-Year Low

Diversifying Their Revenue Stream

Last year, Marathon Digital started evaluating Kaspa as a means to diversify its revenue stream and started deploying ASICS for the same in September 2023.

Marathon has acquired around 60 petahash of KS3, KS5, and KS5 Pro ASICs. According to ASIC Miner Value, these devices can generate profits with margins of up to 95%, depending on the current network difficulty rate and the price of KAS. Currently, 30 petahash of Marathon’s Kaspa ASICs are operational in the company’s self-owned and operated facilities in Texas, with the rest expected to be fully operational by Q3 2024

So far, Marathon has mined a total of 93 million KAS having a current value of $15 million. Speaking on the development, Adam Swick, Marathon’s chief growth officer said:

“By mining Kaspa, we are able to create a stream of revenue that is diversified from Bitcoin, and that is directly tied to our core competencies in digital asset compute. Because of our existing infrastructure, our unique relationships with hardware manufacturers, our strong balance sheet, and the expertise of our team, Marathon was uniquely positioned to mine Kaspa and to capitalize on the higher margins that exist for those who can deploy Kaspa ASICs today.”

Also Read: Bitcoin Miner Riot Withdraws Bid for Bitfarms

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Dogecoin (DOGE) Reclaims Previous Breakdown, Will This Mark The Bottom?

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12 minutes ago

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April 10, 2025

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After a long-running streak of breaking down from support levels, Dogecoin (DOGE) is set to reverse the trend. Recent Dogecoin price action reveals that the bottom is in for the memecoin amid growing chatter for a strong rally.

Dogecoin Price Reclaims Breakdown Signaling The Bottom

Cryptocurrency analyst Trader Tardigrade says recent Dogecoin price action indicates a positive trend reversal following multiple support breakdowns. In his analysis on X, Tardigrade notes that DOGE has reclaimed a previous price breakdown at $0.15300 after a small rally.

After prices dipped below the support level, DOGE quickly recovered, powered by a rally that saw the asset record double-digit gains over the last day. Tardigrade notes that reclaiming the breakdown signals the end of a long-drawn price decline for Dogecoin.

Since the start of the year, the Dogecoin price has been in steep decline, recording three steep price breakdowns without an attempt to reclaim support levels.

dogecoin reclaims price breakdowndogecoin reclaims price breakdown

“Dogecoin has successfully reclaimed its previous breakdown, marking the first time since the downtrend began in January 2025,” said Tardigrade. “This price action suggests that Doge is gaining strength and may have already reached its bottom.”

The claims that Dogecoin bottom has gathered steam with crypto analyst Master Kenobi predicting that DOGE price will bounce back. Master Kenobi goes on to predict a new all-time high for DOGE in early June, confirming the bottom as well.

Fundamentals Stoke Support For DOGE Bottom Claims

Apart from technicals, certain fundamentals suggest that the bottom is in for the Dogecoin price. 21Shares’ filing for a spot Dogecoin ETF is fuelling a small rally for the dog-themed meme coin.

A previous collaboration between 21Shares and House of Doge for a Dogecoin ETP on the SIX Swiss Exchange is a tailwind for the asset. DOGE has survived the scare stemming from Elon Musk’s imminent departure from DOGE as it eyes the $1 mark.

However, DOGE will have to contend with heavy selling pressure from whales and the broader macroeconomic pressures impacting the cryptocurrency markets to avoid slipping below the support level again.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ethereum’s Controversial Developer Freed Before Full Sentence

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2 hours ago

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April 10, 2025

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Virgil Griffith, a former Ethereum developer who worked on the Ethereum Name Service (ENS), has been released from prison on parole and relocated to a halfway house.

Updates posted on X on Wednesday, April 9, 2025, disclosed that Griffith is now starting his return to civilian life after serving some of his sentence for violating US sanctions.

Ethereum Developer’s Prison Release Confirmed By Sources

Brantly Milegan, executive director of Ethereum Identity Foundation, broke the news with a photo of Griffith and his parents outside the prison. Alexander Urbelis, ENS general counsel and part of Griffith’s legal team, confirmed his release from FCI Milan in Michigan.

Griffith was arrested in November 2019 after speaking at a cryptocurrency conference in North Korea. Prosecutors claimed his presentation provided information that could help North Korea evade sanctions and launder money.

From 63 Months To 56: The Sentence Journey

In 2022, Griffith was sentenced to 63 months in prison and meted a fine of $100,000 after pleading guilty to the International Emergency Economic Powers Act. In July 2024, US District Judge Kevin Castel lowered his sentence to 56 months, citing him as a first-time offender.

ETHUSD trading at $1,598 on the daily chart: TradingView.com

Crypto Return Faces Serious Hurdles

Griffith himself starts a several-year probation term. His attorneys are fighting to transfer him from the halfway house to home confinement, but returning to regular life is hindered.

The Department of Commerce placed severe export restrictions on Virgil that will extend until 2032, Urbelis explained. These limits could block his return to the cryptocurrency field.

Presidential Pardon Possibility Under Trump Administration

Before joining Ethereum, Griffith earned a Ph.D. from Caltech and created WikiScanner, a tool tracking anonymous Wikipedia edits. He also worked with Aaron Swartz on Tor2web.

According to Urbelis, Griffith is seeking a pardon from US President Donald Trump. Trump has previously granted clemency to others in crypto-related cases, including Ross Ulbricht and Arthur Hayes.

The case has triggered debate about sharing open-source information versus helping sanctioned nations. Ethereum co-founder Vitalik Buterin has supported Griffith, even signing a petition calling for his release in 2023.

Featured image from Thiessen Law Firm, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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Binance Lists BABY As Bitcoin Protocol Babylon Goes Live

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4 hours ago

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April 10, 2025

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Cryptocurrency exchange Binance has revealed the listing of BABY, the native token of the Babylon Genesis blockchain. The listing comes as the Babylon Foundation finished its airdrop of 600 million BABY tokens to early adopters and contributors to the ecosystem.

Babylon Genesis Launches As First Bitcoin-Secured L1 Blockchain

The Babylon Genesis blockchain has officially gone live. The project has described itself as the launch of “the world’s first L1 blockchain secured by Bitcoin.” According to an X post by the Babylon team, this launch establishes the Babylon Bitcoin staking protocol as a “foundational infrastructure layer for Bitcoin.”

The project brings with it a fresh paradigm to securing blockchains as it employs Bitcoin as the Layer-1 blockchain’s security mechanism. In the system, the holders of Bitcoin are able to stake their BTC in order to secure the Babylon network and, as a reward, receive BABY tokens.

Babylon’s mission is to realize the maximum utility of Bitcoin by reconditioning “idle Bitcoin to be the foundation of the decentralized economy.” Such an approach helps fix Bitcoin’s lack of programmability without violating its security paradigm by using the staking protocol.

BABY Token Airdrop Successfully Launched

Babylon Foundation reported the completion of its airdrop of BABY tokens to early entrants in its ecosystem. According to official information, the airdrop distributed 600 million BABY tokens. This accounts for 6% of the total supply of 10 billion tokens.

In their announcement tweet, the foundation stated: “Dear Babylonian, the Babylon Foundation is happy to announce that the airdrop has just been successfully executed! You should be able to see your BABY in your wallet very soon.”

The foundation confirmed that there are no transfer restrictions on the airdropped tokens. This gives recipients immediate freedom to trade or use their BABY holdings. Recipients also have the option to stake their BABY tokens to secure the Babylon Genesis network and earn additional tokens as staking rewards.

The airdrop acts as a reward mechanism for early adopters and as a way to distribute governance rights.

Binance Listing Details And Token Information

Binance’s listing of the BABY token provides immediate liquidity for airdrop recipients and other BABY holders. According to the exchange’s announcement, trading for BABY began on April 10, 2025, at 10:00 UTC. The tokens are available to trade against five different currencies: USDT, USDC, BNB, FDUSD, and TRY.

The leading crypto exchange has applied the “seed tag” to BABY. This generally indicates to traders that the token is in early stages and may carry additional investment risks. Deposits for the token will be enabled six hours after Binance’s announcement. This allows users time to prepare for trading. The exchange’s announcement comes after it unveiled its decision to delist 7 crypto pairs.

The total supply of BABY tokens is set at 10 billion, with the recent airdrop distributing 600 million tokens or 6% of this total supply. This distribution approach aims to establish a broad base of token holders who can participate in the network’s governance from its early stages. According to CoinMarketCap data, Babylon is trading at $0.1032 with a market cap of $234 million.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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