Ethereum Classic Gains Double-Digit Growth
Ethereum Classic (ETC) has surged by 11.5% as excitement builds around Ethereum's upcoming Proof-of-Stake transition, known as the Merge. Trading volumes skyrocketed from $265 million to $1.1 billion within 24 hours, signaling strong momentum.
👉 Why Ethereum Classic is attracting miners post-Merge
Key Drivers Behind ETC's Rally
- Merge Hype: Ethereum’s shift to Proof-of-Stake (PoS) has drawn attention to Proof-of-Work (PoW) alternatives like Ethereum Classic.
- Miners Migrating: Post-Merge, Ethereum miners are switching to ETC, boosting its hashrate to 47 TH/s—a record high.
- Unit Bias: At $36.10 per token**, **ETC** is perceived as a **"cheaper Ethereum"** compared to **ETH ($1,582).
Ethereum vs. Ethereum Classic: Post-Merge Dynamics
| Metric | Ethereum (ETH) | Ethereum Classic (ETC) |
|-----------------|----------------------|------------------------|
| Consensus | Proof-of-Stake (PoS) | Proof-of-Work (PoW) |
| Price | $1,582 | $36.10 |
| Hashrate | N/A (Post-Merge) | 47 TH/s (ATH) |
The Merge will reduce ETH’s energy consumption by 99.9% and cut new ETH issuance by 90%. Meanwhile, ETC’s PoW chain gains security as miners join its network.
Why Miners Are Choosing Ethereum Classic
- Continued Profitability: PoW miners need alternatives after ETH transitions to PoS.
- Network Security: Higher hashrate = stronger resistance to attacks.
- Community Support: Endorsements (e.g., Elon Musk’s past Dogecoin hype) can drive perception.
👉 Explore Ethereum Classic mining opportunities
FAQs
Q: Will Ethereum Classic replace Ethereum after the Merge?
A: No. ETC remains a separate PoW chain, while ETH transitions to PoS.
Q: Is Ethereum Classic a good investment?
A: Volatility is high. While ETC benefits from miner migration, long-term viability depends on adoption.
Q: How does the Merge affect ETH’s price?
A: Reduced supply (lower issuance) could drive ETH’s value up, but market reactions vary.
Final Thoughts
The Ethereum Merge is reshaping the crypto landscape, with Ethereum Classic emerging as a key PoW alternative. Miners and traders are flocking to ETC, but investors should research risks.
For real-time market insights, check our latest analysis.
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