April 29 Crypto News: Everything that Happened in Crypto at the Beginning of the Week

Crypto News – On the last Monday of April, the crypto spotlight was once again extremely busy.

April 29 Crypto News: Everything that Happened in Crypto at the Beginning of the Week

First off, Runes’ explosive success is helping Bitcoin miners. The entire block reward is then obtained by a single Bitcoin miner who has solved a block by themselves. Furthermore, the most recent celebrity to support Crypto.com is American rapper Eminem.

Runes Fees Increase to 1200 BTC

Due to the Runes implementation driving transaction fees sky-high, Bitcoin miners have benefited from a relief from the expected supply shock of lower block rewards. The fall in Bitcoin mining compensation was expected to cause a decline in mining revenue in the first week after the halving, according to Stronghold Digital Mining CEO Greg Beard. In contrast to the diminishing Bitcoin returns, Beard claimed that Runes had been a delightful diversion.

This decrease was unexpectedly offset by a significant increase in transaction fees. Simply put, what we lost in rewards, we made up for in transaction fees,

Beard

A Bitcoin Miner Solved a Block Alone

A lone Bitcoin miner triumphed over the odds and solved a block by themselves, earning the full reward of 3.125 Bitcoin, or roughly $195,000. In an April 28 X post, Con Kolivas, the admin of the solo mining pool ckpool, announced that a miner had cracked the 282nd solo block in history. Kolivas noted that the single miner’s hash rate, or around 0.02% of the entire Bitcoin hash rate, was approximately 120 petahashes per second, with an average of about 12PH/s over the course of a week.

Eminem Shows Support for Crypto.com

The well-known rapper Marshall Mathers, aka Eminem, has endorsed Crypto.com in a recent social media ad campaign. Eminem aired a commercial on April 26 on X, utilizing the motto “fortune favors the brave” from Crypto.com. The commercial is the first significant celebrity endorsement for Crypto.com since Matt Damon, who supported the cryptocurrency exchange in October 2021, close to the end of the previous bull market.