Here are top crypto news of the day curated by CoinChapter.com.
Marathon Digital Doubles Bitcoin Mining Target for 2024
Marathon Digital, a major Bitcoin mining company, has revised its hash rate target for 2024. It increased the target from 35-37 EH/s to an ambitious 50 EH/s. This new target represents a staggering 100% increase in the company’s planned computational power for mining Bitcoin this year.
Hash rate measures the collective computing power employed in performing the calculations required to validate transactions and mine new blocks.
Marathon Digital began 2024 with a hash rate of approximately 24.7 EH/s. However, it had initially planned to grow that figure by 46% to reach 35-37 EH/s by the end of the year.
Crypto Trader Anticipates Best ‘Altseason’ Since 2017 as Bitcoin Cools
Crypto traders and analysts are anticipating the best ‘altseason’ – a period of significant growth for alternative cryptocurrency (altcoin) prices – since the bullish cycle of 2017. This optimism stems from projections of a bullish upside for both Bitcoin and Altcoins on longer timeframes despite the recent consolidation in Bitcoin’s price action.
Over the weekend, Bitcoin rallied past the $64,000 mark ahead of the April 28 weekly close, while altcoins sought to recover lost ground. BTC/USD pair maintained higher ground around $63,500 after hitting weekly lows of $62,400. Notably, the total altcoin market capitalization increased by approximately 1% on the day, fueling hopes of a potential ‘altseason.’
If these trends continue, traders believe that the stage could be set for the best ‘altseason.’
Franklin Templeton Upgrades $380M Tokenized Treasury Fund
On Thursday, the asset management giant Franklin Templeton enabled BENJI to use peer-to-peer transfer capabilities. This is the firm’s yield-bearing, dollar-pegged token that represents shares in the $380 million Franklin OnChain US Government Money Fund (FOBXX).
BENJI was launched in 2021 on the Stellar blockchain. However, more than 99% of its supply has been minted on the Polygon PoS blockchain. Stellar is a decade-old blockchain platform that has recently begun rolling out Ethereum-style smart contracts. It could facilitate more advanced use cases for BENJI and other tokenized assets.
However, as of Friday evening, no investors holding BENJI tokens had initiated peer-to-peer transfers.
Another Crypto News of the Day: Worldcoin Eyes Partnership with OpenAI
According to recent reports, OpenAI is in negotiations for a potential partnership with Worldcoin. Both are renowned firms co-founded and led by Sam Altman.
The proposed partnership would involve OpenAI providing AI solutions and services to Worldcoin. However, any such collaboration would almost certainly draw additional regulatory scrutiny, given Altman’s status as a co-founder and leader within both organizations.
Worldcoin is a significant player in universal basic income and identity verification. It has an average of two million users daily.
Solo Bitcoin Miner Wins $200,000 Lottery by Solving Valid Block
A single Bitcoin miner has successfully solved a valid block alone, earning the full 3.125 Bitcoin block reward – worth approximately $200,000 at the time of the event.
Con Kolivas, a software engineer and administrator at ckpool, a solo mining pool, announced this milestone on X (formerly Twitter). According to Kolivas, this solo miner solved block 841,286, marking the 282nd time in Bitcoin’s history.
Solving a Bitcoin block solo is an extremely rare occurrence, akin to winning the lottery. It requires immense computational power to validate transactions and mine new blocks on the Bitcoin network. In fact, this feat has only occurred 282 times out of the 841,300 or so blocks that have been produced since Bitcoin’s inception 14 years ago.
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