As major mining rig manufacturers start to introduce their latest offerings in the latter half of 2023, the crypto mining industry is buzzing with excitement.

Every year on October 31, children dressed in pumpkin masks and eccentric costumes may ask you for candy, and the cheerful bonfire parties are also hard to forget. That said, October 31 is not just a day for celebration in the real world, as it holds great significance for the crypto world as well.

Yet despite the market's prevailing bearish sentiment and the hardships faced by miners, there is one crypto that has defied the odds and witnessed consecutive surges, achieving an impressive 76% increase during the third quarter. That is Kaspa.

The crypto space recently saw a comical blunder. Cointelegraph, a famous blockchain media outlet, posted a tweet claiming that the SEC had approved BlackRock’s iShares Bitcoin spot ETF at 21:21 on October 16 (UTC-5). The claim was later debunked by credible sources, and Cointelegraph also issued a clarification and soon removed the tweet. Nevertheless, this false information dealt a major blow to public confidence in the crypto industry.

Today, we will review Kaspa’s performance in September through four key indicators and uncover the highlights of this rising star in the PoW race.

At the event, a total of 48 speakers, including CCAF’s Alexander Neumueller, Litecoin Foundation Co-founder Xinxi Wang, and Tether CTO Paolo Ardoino, presented us with fascinating insights into crypto mining. They shared their expertise on a wide range of topics, covering ideal mining strategies for the current bear market, potential trends following the 2024 BTC halving, the relationship between governments and BTC, the sustainability of crypto mining, as well as opportunities and the future of renewable energy.

The Philippines Blockchain Week (PBW) 2023, a premier blockchain event in Southeast Asia, was successfully concluded in Manila on September 21, 2023.

ViaBTC is delighted to become a sponsor for the World Digital Mining Summit 2023 (WDMS 2023) and engage with representatives from mining companies, experts, and mining enthusiasts from around the world to jointly explore the future trends in digital mining.

Future PoW projects may not all choose it as the model of their chain, but BlockDAG has undoubtedly proven its potential in addressing the performance and scalability challenges of traditional blockchains.

In recent years, however, as more institutional and retail investors flooded into the crypto market, we have started to notice a growing connection between Bitcoin and stock markets.

Today, let’s dive into the on-chain data of Bitcoin to check out how it really performed in August.

Although the trajectory from GPU through FPGA to ASIC appears an inevitable course for PoW coins, the mining process now demands higher capital investments with the entry of more powerful ASIC miners. Initial costs are escalating, driving small-scale miners out of business.

Along with the introduction of ASIC miners, the global BTC mining industry’s hashrate scale has continued to expand, resulting in fierce competition. In crypto mining, electricity cost is a key concern among miners.

Bitcoin’s performance has been closely watched since the crypto was launched in 2009. As it can process only seven transactions per second, the network does not allow for scalable smart contracts. The SegWit upgrade increased Bitcoin’s block size limit to 4MB (1MB for transaction data and 3MB for witness data); however, the limitation still persists.

Despite the bearish trend, certain innovative PoW coins have not stopped shining. Kaspa, for instance, surged by over a hundredfold in just a year and now ranks among the top 50 cryptos by market cap.

As one of the earliest cryptocurrencies, Litecoin has always been a key player in the industry. This coin once again captured the spotlight this June as it became one of the four cryptocurrencies supported by EDX Markets. This, coupled with the upcoming halving, has helped Litecoin record exceptional performance in the first half of 2023. By the end of Q2, the LTC price surged by an impressive 54.29%, peaking at $113. Despite a slight dip in July, LTC has grown more than 29% in value so far this year, outperforming many other assets, including gold.

For the crypto industry, every BTC halving marks a feast, especially during the first three halving cycles of Bitcoin, where the market witnessed astonishing price surges by dozens of times. Despite short-term corrections, the market consistently rebounded later, leading to long-term bullish trends.

Among the numerous cryptocurrency projects, Bitcoin is in the limelight as the industry leader, and Bitcoin mining and Bitcoin trading have become popular topics.

As the initial excitement surrounding BRC-20 tokens begins to fade, the total market cap of these tokens has plummeted by more than 70% to approximately $300 million, from its peak of over $1 billion in May. Prominent tokens in this sector, including ORDI and PEPE, have also witnessed substantial price drops as the hype subsides.

Litecoin founder Charlie Lee once referred to Litecoin as the silver to Bitcoin’s gold and emphasized that Litecoin is his preferred choice for payments. Today, Litecoin has become one of the preferred options for most crypto users.