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.<\/p>\n
Related Reading |\u00a0Cardano Moves In The Red With The Market, Can The Price Of ADA Stay Above $0.46?<\/p>\n
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\u2019s price has been the best performing asset in the sector followed by Lido DAO (LDO).<\/p>\n
ETC\u2019s price with important gains on the 4-hour chart. Source: ETCUSDT Tradingview<\/p>\n
This cryptocurrency records a higher increase than ETC\u2019s price in the past 24 hours with 41% profits. Ethereum Classic has outperformed it in the past week, but it\u2019s noteworthy that these two cryptocurrencies are rallying.<\/p>\n
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.<\/p>\n
Ethereum Classic (ETC) Will Extend Gains With \u201cThe Merge\u201d<\/p>\n
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 \u201cThe Merge\u201d.<\/p>\n
An event that will combine Ethereum\u2019s 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 \u201cThe Merge\u201d on major Ethereum testnets.<\/p>\n
This event represents the end of the ETH mining sector as it exists today. The PoS blockchain will validate transactions with a different mechanism.<\/p>\n
Thus, miners will have to scramble to secure other Proof-of-Work (PoW) networks, like Ethereum Classic. As the chances of \u201cThe Merge\u201d mainnet implementation increase, ETC\u2019s price seems likely to follow.<\/p>\n
Related Reading |\u00a0Dogecoin Seen Doubling In Price, Despite Shedding 10% In Last 7 Days<\/p>\n
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 \u201cThe Merge\u201d tentative mainnet launch announcement.<\/p>\n
Investors with bid orders of around $1,000 (green on the chart) buy into ETC\u2019s price action. Source: Material Indicators<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
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.<\/p>\n
Related Reading |\u00a0Cardano Moves In The Red With The Market, Can The Price Of ADA Stay Above $0.46?<\/p>\n
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\u2019s price has been the best performing asset in the sector followed by Lido DAO (LDO).<\/p>\n
ETC\u2019s price with important gains on the 4-hour chart. Source: ETCUSDT Tradingview<\/p>\n
This cryptocurrency records a higher increase than ETC\u2019s price in the past 24 hours with 41% profits. Ethereum Classic has outperformed it in the past week, but it\u2019s noteworthy that these two cryptocurrencies are rallying.<\/p>\n
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.<\/p>\n
Ethereum Classic (ETC) Will Extend Gains With \u201cThe Merge\u201d<\/p>\n
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 \u201cThe Merge\u201d.<\/p>\n
An event that will combine Ethereum\u2019s 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 \u201cThe Merge\u201d on major Ethereum testnets.<\/p>\n
This event represents the end of the ETH mining sector as it exists today. The PoS blockchain will validate transactions with a different mechanism.<\/p>\n
Thus, miners will have to scramble to secure other Proof-of-Work (PoW) networks, like Ethereum Classic. As the chances of \u201cThe Merge\u201d mainnet implementation increase, ETC\u2019s price seems likely to follow.<\/p>\n
Related Reading |\u00a0Dogecoin Seen Doubling In Price, Despite Shedding 10% In Last 7 Days<\/p>\n
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 \u201cThe Merge\u201d tentative mainnet launch announcement.<\/p>\n
Investors with bid orders of around $1,000 (green on the chart) buy into ETC\u2019s price action. Source: Material Indicators<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-4278","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=4278"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4278\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4278"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}