Why Ethereum Classic (ETC) Leads Crypto Market In Latest Week With 16% Surge

2022-7-28 22:47

As the crypto market trended to the downside, Ethereum Classic (ETC) took advantage. The original Ethereum blockchain records double-digit profits across multiple timeframes and seems on track for future appreciation.

Related Reading | Cardano Moves In The Red With The Market, Can The Price Of ADA Stay Above $0.46?

At the time of writing, Ethereum Classic (ETC) trades at $30 with a 27% profit in the past day and a 20% profit over the past week. Data from Coingecko indicates that ETC’s price has been the best performing asset in the sector followed by Lido DAO (LDO).

ETC’s price with important gains on the 4-hour chart. Source: ETCUSDT Tradingview

This cryptocurrency records a higher increase than ETC’s price in the past 24 hours with 41% profits. Ethereum Classic has outperformed it in the past week, but it’s noteworthy that these two cryptocurrencies are rallying.

Lido DAO is a platform that offers users Ethereum (ETH) staking services. This allows retail investors to lock their ETH and receive a portion of the rewards from the upcoming Proof-of-Stake (PoS) migration without meeting the 30 ETH requirement.

Ethereum Classic (ETC) Will Extend Gains With “The Merge”

On the other hand, Ethereum Classic (ETC) is perceived as the alternative for ETH miners for when this blockchain completes its migration to a PoS consensus. This process is set to be completed in September 2022, with “The Merge”.

An event that will combine Ethereum’s execution layer with its consensus layer, ETH core developers only recently announced a fix tentative data for its mainnet launch. The blockchain has seen two successful implementations of “The Merge” on major Ethereum testnets.

This event represents the end of the ETH mining sector as it exists today. The PoS blockchain will validate transactions with a different mechanism.

Thus, miners will have to scramble to secure other Proof-of-Work (PoW) networks, like Ethereum Classic. As the chances of “The Merge” mainnet implementation increase, ETC’s price seems likely to follow.

Related Reading | Dogecoin Seen Doubling In Price, Despite Shedding 10% In Last 7 Days

Data from Material Indicators shows an increase in buying pressure from investors with bid orders of around $1,000. This spike was recorded close to “The Merge” tentative mainnet launch announcement.

Investors with bid orders of around $1,000 (green on the chart) buy into ETC’s price action. Source: Material Indicators

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3171.83 (-0.40%)
Объем 24H $13.315b
Изменеия 24h: -4.17 %, 7d: -1.13 %
Cегодня L: $3166.84 - H: $3310.62
Капитализация $387.137b Rank 2
Цена в час новости $ 1634.12 (94.1%)

ethereum market crypto etc classic multiple across

Источник: newsbtc.com

ethereum market → Результатов: 126


Ethereum Bullish Revival: Will This Breakthrough Lead To A New Market Phase?

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has exhibited a promising technical development, igniting optimism within the crypto community. The formation of a bullish flag pattern within the daily timeframe has captured the attention of analysts and traders, hinting at potential positive movements in the near future.

2023-11-7 14:30


Ethereum Crosses $1,700, But Could Return To Path Of Pain, Expert Says

Ethereum (ETH) took off over the weekend and has extended its gains during today’s trading session. The second crypto by market cap could extend its gains, as “The Merge” becomes a certainty. Related Reading: Market Sentiment Holds Steady As Bitcoin Aims For $24,000 The event that will complete Ethereum’s transition from a Proof-of-Work (PoW) to a Proo-of-Stake (PoS) consensus algorithm, “The Merge” has been set for September 2022.

2022-8-8 21:16


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Classic pulls back after rally fueled by ETF approval

ETC’s price has dropped by double digits in the last week. Despite the price dip, bullish momentum remains.  Following a post-ETF-approval rally, Ethereum Classic [ETC] has begun to shed The post Ethereum Classic pulls back after rally fueled by ETF approval appeared first on AMBCrypto.

Ethereum Classic (ETC) Resumes Uptrend, Notches 13% In The Last Day

Ethereum Classic (ETC) is currently experiencing a rise in its market price, gaining 13. 99% in the last 24 hours, according to data from CoinMarketCap.   Following the ETC’s dip in the last two days, it appears the bulls have retaken control of the market, pushing the coin to trade above the $20 mark for the first time since April.

Cardano’s Hoskinson calls Ethereum Classic ‘scam’ after Ergo’s exclusion from Proof-of-Work Summit

Cardano (ADA) founder Charles Hoskinson described Ethereum Classic (ETC) as a scam project whose only purpose is for insiders to dump on recruits with false hopes. Ergo not invited to proof-of-work summit The statement was made in reaction to ETC Cooperative’s refusal to invite Ergo (ERG) to a Proof of Work summit organized by it and […] The post Cardano’s Hoskinson calls Ethereum Classic ‘scam’ after Ergo’s exclusion from Proof-of-Work Summit appeared first on CryptoSlate.