Price Analysis: Kaspa (KAS) Surges 9.74% in 24-hours as Marathon Digital Enters Mining Operations

Price Analysis: Kaspa (KAS) Surges 9.74% in 24-hours as Marathon Digital Enters Mining Operations

Kaspa (KAS), the proof-of-work native cryptocurrency of the Kaspa blockchain, has been making waves in the cryptocurrency market with its impressive price performance. As of the time of publishing, Kaspa is trading at $0.1758, representing a staggering 9.74% increase in the last 24 hours.

Source: KAS 24-hour Chart (CMC)

This surge in Kaspa’s price has been accompanied by a significant 166% increase in its daily trading volume, now at $161,225,743. This spike in trading activity indicates a high level of market interest and potential profit opportunities for investors.

Marathon Digital’s Foray into Kaspa Mining

The recent price surge in Kaspa is partly attributed to the news that Bitcoin mining giant Marathon Digital (NASDAQ: MARA) has started mining this altcoin. In its official announcement on Wednesday, June 26, 2024, Marathon Digital revealed that it had acquired around 60 petahash of KS3, KS5, and KS5 Pro ASICs to mine Kaspa.

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.

Related article: JasmyCoin Experiences Market Volatility with 1.44% 24-Hour Decline: What Does This Mean?

Kaspa’s Innovative Blockchain Architecture

Kaspa is a proof-of-work (PoW) cryptocurrency that implements the GHOSTDAG protocol, a generalization of the Nakamoto consensus. This unique architecture allows the Kaspa blockchain to maintain very high block rates (currently one block per second, aiming for 10/sec, dreaming of 100/sec) and minuscule confirmation times dominated by internet latency.

Unlike traditional blockchains, GHOSTDAG does not orphan blocks created in parallel but rather allows them to coexist and orders them in consensus. This innovative approach to blockchain technology sets Kaspa apart from other cryptocurrencies and could be a key factor in its growing popularity and adoption among investors and developers.


The recent surge in Kaspa’s price and trading volume, coupled with the entry of a major player like Marathon Digital into its mining operations, suggests that this altcoin is gaining significant traction in the cryptocurrency market. Kaspa’s unique blockchain architecture and ability to maintain high transaction throughput and low confirmation times could further contribute to its growth and appeal to investors seeking innovative investment opportunities in the digital asset space.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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