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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Ethereum Classic [ETC] has posted sizeable gains in the past two weeks as the bulls refused to let the price slide beneath the $30 mark.
Ethereum Classic (CRYPTO: ETC) was showing strength in comparison to many other cryptos Wednesday, surging up about 7% at one point, compared to Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were trading near flat. Ethereum Classic may be showing strength ahead of Ethereum's Merge, which takes Ethereum from proof-of-work to proof-of-stake, with one of the aims of lowering its environmental impact.
The Ethereum Merge is scheduled to go live in less than a day, which would move the network completely from a proof of work mechanism to a proof of stake mechanism. This essentially puts Ethereum miners out of business, meaning they have to find somewhere else to move their mining machines to.
One of the most well-known altcoins, Ethereum Classic, skyrocketed 18.74% to trade at $38.1; on Tuesday, Terra is dealing with a bullish bias.
The popularity of Ethereum Classic [ETC] has increased in the last few weeks. This has, especially, been the case due to the Ethereum 2.0 merge's final stages.
As Ethereum moves to a proof-of-stake blockchain, mining activity on the ETH alternative Ethereum Classic has reached an all-time high.
Ethereum classic rebounded on Wednesday, following three consecutive days of declines. The token dropped below $40.00 earlier this week, and continues to trade below this level ahead of tomorrow's merge event. On the other hand, Solana remained lower, with prices falling by over 8% today.
Ethereum Classic (ETC) Price Prediction – September 14Not much has surfaced to suggest changing the mode of trading operations in the Ethereum Classic market as
Markets have seen a strong rebound in the run-up to Ethereum's Merge planned for this week, and Ethereum Classic has established itself as an unexpected
Ethereum Classic's hash rate has surpassed 64 terahashes per second (TH/s), having grown more than 40% in September ahead of The Merge. The post Ethereum Classic hash rate shot up by 200% over last 30 days appeared first on The Block.
According to Watcher Guru, we are only 12,554 away from the Ethereum Merge, which is expected to happen at 1:09 on September 15 (CST). By then, Ethereum will have transitioned to PoS, a major blow to PoW miners in the network.
Although the general market is experiencing positive support, the recent price increase in Ether is causing liquidations.
The Ethereum Classic (ETC) price prediction could set a bullish run if the market can attempt to climb back above $40.
Amidst preparations for the Ethereum Merge, ETC Group made a shocking announcement on Wednesday. The digital assets and blockchain equity provider declared its plan to continue using Ethereum's proof-of-work consensus for its current Ethereum exchange-traded products.
Ethereum's transition to a new protocol may be groundbreaking but it's not without risks. Investors should watch these cryptos closely.
Ethereum Classic (CRYPTO: ETC) is trading lower by 8.03% to $35.27 Tuesday morning after August CPI data showed worse-than-expected inflation. This has driven a risk-off sentiment and has also raised the potential for further Fed policy tightening to curb inflation.
The overall crypto market shows signs of price reversal from the downtrend, boosting investors' confidence. To start with, the week started well for BTC as the market saw its price above $22K.
It was a bullish week ending September 11 for the crypto market. Sentiment towards the Merge and central bank monetary policy delivered support.
With The Merge coming next week and Cardano's Vasil hard fork commencing soon after, the market capitalization of the top smart contract tokens by valuation increased 1.19% during the past 24 hours to $316 billion on September 11, 2022. Moreover, the market capitalization of the top smart contract crypto assets today has increased 44.
The altcoins below are the strongest altcoins for the week. RVN and ATOM are the top strongest altcoins for the week.
Digital asset-backed securities provider the Etc Group has said it will list an exchange-traded product (ETP) based on an anticipated hard fork of the Ethereum blockchain on September 15. Current holders of Etc Group's ethereum ETP (ZETH) will be issued with “units of the new security free of charge on a 1:1 unit basis.
The market saw some ups and downs this week, with some digital assets seeing significant gains while others remained stagnant. Uniglo is an up-and-coming cryptocurrency that has seen an uptick in recent weeks while Polygon, Solana and Ethereum Classic have all been stuck at major resistances.
The much-awaited Ethereum [ETH] Merge is around the corner. However, the mining community is continuing to search for new alternatives to keep their operations going.
Ethereum Classic (ETC) has so far performed on the expected lines as The Ethereum Merge approaches. With the miners considering a shift to Ethereum Classic, the cryptocurrency looks set to benefit.
