|All Time High:|
|Market Cap: |
|The price of #ETC today is $27.92 USD.|
The lowest ETC price for this period was $0, the highest was $27.92, and the current live price for one ETC coin is $27.91608.
The all-time high ETC coin price was $169.
Use our custom price calculator to see the hypothetical price of ETC with market cap of BTC or other crypto coins.
|The code for Ethereum Classic is #ETC. |
Ethereum Classic is 6.2 years old.
|The current market capitalization for Ethereum Classic is $3,828,162,134.|
Ethereum Classic is ranked #21 out of all coins, by market cap (and other factors).
|The trading volume is very large during the past 24 hours for #ETC.|
Today's 24-hour trading volume across all exchanges for Ethereum Classic is $289,784,596.
|The circulating supply of ETC is 137,131,098 coins, which is 65% of the maximum coin supply.|
|ETC is well integrated with many pairings with other cryptocurrencies and is listed on at least 74 crypto exchanges.|
View #ETC trading pairs and crypto exchanges that currently support #ETC purchase.
More Ethereum Classic (#ETC) News
|Ethereum Classic Hashrate Slides 46% Since The Merge, PoW ETH Forks Gath...
The day of The Merge, Ethereum Classic's hashrate soared to new highs tapping 306 terahash per second (TH/s) ten days ago on September 15. Since then, however, Ethereum Classic's computational power has dropped 46.16% lower from the high to today's 164.75 TH/s. Furthermore, ethereum classic's market valuation has dropped by two positions and lost 26.7% against the U.S. dollar during the last two weeks.Ethereum Classic's Hashrate and Price Sinks, While the 2 New PoW Ethereum Forks Jump Higher in USD Value
After Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS) the lion's share of Ethereum's hashrate moved over to the Ethereum Classic (ETC) network. Data from 2miners.com shows ETC's hashrate jumped to an all-time high on September 15, 2022, the day of The Merge.
That day, ETC's computational power reached 306 TH/s after climbing 482.85% higher than the 52.5 TH/s recorded on September 12. Six days beforehand, ETC's price tapped a high of $41.80 per unit on September 6. Both ETC's USD value and computational power are down today after reaching record highs just prior to The Merge.
Today, data indicates that ETC's overall hashrate is 164.75 TH/s, which is 46.16% lower than the all-time high recorded on September 15. On that day, ten days ago, the new ETHW network had not yet launched but when it did, ETHW gathered 79.42 TH/s in computational power.
ETHW's hashpower has dropped, however, down to 45.97 TH/s according to metrics recorded by 2miners.com. While it...
|PoW Tokens Take A Hit: Ravencoin and Ethereum Classic Crash Over 20%
Ravencoin (RVN) and Ethereum Classic (ETC) were operated as a safe haven for miners seeking shelter from “The Merge” fallout. The event that completed Ethereum’s transition to Proof-of-Stake (PoS), “The Merge” locked out miners from the ecosystem.
Leading into the event, Ravencoin, Ethereum Classic, and other Proof-of-Work (PoW) cryptocurrencies were recording double-digit gains. The new participants onboarding the networks drove their hashrate to new highs, and their price followed as demand for PoW tokens followed.
However, as more miners flocked into these networks, it became more difficult to obtain rewards. In that sense, and with “The Merge” out of the way, miners might be seeking new alternatives to carry on with their operations and maximize their gains.
At the time of writing, Ravecoin and Ethereum Classic traded at $0.03 and $28, respectively. The cryptocurrencies record a 30% loss for RVN and a 22% loss for ETC over the past week. The tokens gave back a large portion of the gains obtained in previous weeks.
RVN's price is trending to the downside on the 4-hour chart. Source: RVNUSDT Tradingview
Ravencoin (RVN) And Ethereum Classic (ETC) Might Be Losing Market Share
As the price of Ravencoin and Ethereum Classic trend to the downside, their hashrate trend lower which hinted at the current bearish price action. Miners that were prompting the value of these cryptocurrencies seem to be existing or diversifying their participat...
|Biggest Movers: ETC, UNI Slip to 2-Month Lows on Monday
Ethereum classic fell to a two-month low to start the week, as prices in the cryptocurrency market continue to decline. Uniswap also slipped to a multi-month low on Monday, as the token hit its weakest level since July. As of writing, the global crypto market cap is down 5.08%Ethereum Classic (ETC)
Ethereum classic (ETC) was one of the most notable movers on Monday, as the token fell by over 12% to start the week.
Following a high of $33.41 during the weekend, ETC/USD slipped to an intraday low of $27.91 earlier today.
The drop comes less than a week after ethereum classic was trading above $40.00, ahead of last Wednesday's Merge.
Monday's drop sees ETC move to its lowest point since July 27, when the token was trading near $24.00.
As of writing, earlier price declines have eased, with ETC now back above the $30.00 mark.
After a brief breakout, the 14-day relative strength index (RSI) is also tracking marginally above a support of its own at 40.95.
Like ethereum classic, UNI was also in the red to start the week, as the token moved closer to a multi-month low.
On Monday, UNI/USD found itself trading below a support point of $5.50, with prices falling to as low as $5.42.
Similar to ETC, this is the lowest level UNI has hit since July, however in this instance the bottom occurred on July 11.
Looking at the chart, the sell-off led to the RSI hitting a floor of 36.15, with bears using this as a signal to secure previous gains.
Currently UNI is trading higher, wit...
|Ethereum Classic Hash Rate Skyrockets 80% to ATH After ETH Merge
The most-anticipated event in the cryptocurrency industry this year took place earlier today, confirming Ethereum's transition from PoW to PoS.
While the effects for the second-largest blockchain will be unveiled gradually in time, Ethereum Classic seems to be benefiting the most for now.
CryptoPotato reported earlier today when the Ethereum mainnet finally merged with the PoS Beacon Chain, solidifying the network's transition to proof-of-stake.
Although this was a highly-anticipated and talked-about event, it will take time until the community sees its effects in terms of scaling, security, and decentralization.
The immediate impact, though, belongs to Ethereum Classic. As former Ethereum miners are no longer able to operate on the blockchain, they seem to be migrating to the PoW fork version.
This is evident from the surging ETC hash rate. The metric skyrocketed by over 80% in a matter of 24 hours and tapped an all-time high of over 111 Thash/s.
Ethereum Classic Hash Rate. Source: BitInfoCharts
The native cryptocurrency, on the other hand, went through quite a volatile trading day. In the hours ahead of the Merge, ETC stood close to $40, touched that level, and then dumped to $35.
It went on the offensive again, retapping $40, and now stands inches away from that level. ETH has been more stable, predominantly trading around $1,600.
The post Ethereum Classic Hash Rate Skyrockets 80% to ATH After ETH Merge appeared first on CryptoPotato.
|Biggest Movers: ETC Trading Below $40.00 Ahead of Thursday's Merge Event
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)
Ethereum classic (ETC) rebounded on Wednesday, following three straight days of lower lows.
Less than 24 hours before the start of The Merge, the token was marginally higher, bouncing from a key support point in the process.
In the aftermath of the three-day losing streak, ETC/USD fell to a floor of $35.10 on Tuesday. However, bulls resisted a breakout, instead pushing prices to a peak of $37.57.
Looking at the chart, today's rebound also coincided with the 14-day relative strength index (RSI) bouncing from a support point of its own.
The RSI climbed from its floor of 48.10, and as of writing, is now tracking at 52.61, which is below a ceiling of 56.30.
Should bulls look to reenter the $40.00 region, the RSI will need to move beyond the upcoming resistance level.
A day after trading at a three-week high, solana (SOL) also remained below $40.00 during today's session.
Following a high of $39.00 on Tuesday, SOL/USD hit an intraday low of $32.87 on Wednesday.
This drop sees a seven-day winning streak snapped, with prices now trading close to a one-week low.
Wednesday's drop sees SOL move close to its long-term support point of $32.70, which has historically...
|No GPU Mining After the Ethereum Merge? Fork Token or ETC to Mine?
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. The Merge will force PoW miners that operate the $19 billion mining business to find alternatives.
Recent data shows that Ethereum miners are fleeing from the network. Right now, the average computing power of the whole Ethereum network stands at 854 TH/s. Trending downwards during the past week, the figure has dropped by about 19% from the peak in May. Ethereum’s massive PoW hashrate is of great significance to the entire crypto mining industry, and the ETH hashrate will shift to other PoW coins once Ethereum shifts to PoS, which may reshape the whole mining sector.
Facing the impending transformation of the mining sector, Ethereum miners might exclude themselves from the shift to PoS by the Ethereum community to protect their own interests. From this perspective, PoW miners on Ethereum might root for a hard fork to preserve the existing PoW chain and generate a new coin. However, such a fork coin can be problematic in terms of risks and security. If Ethereum is forked, projects within today’s largest crypto ecosystem will have to make a choice. Meanwhile, multiple mainstream projects, covering the two stablecoin issuers Tether (USDT) and Circle (USDC), the oracle ChainLink, and the on-chain lending pr...
|Ethereum Classic (ETC) Leads Weekly Gains Amidst Crypto Market Reversal
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.
Bitcoin had traded below the $20K price mark until the close of the market on September 9, when it hit $21,381.15. Bitcoin price has added by 3.32% at the time of writing and now stands at $22,342.67. Other cryptos with commendable increases in 24 hours include Golem GLM with 52.43%, NEAR with 10.10%, Solana with 8.84%, Ravencoin RVN with 6.42%, and AVAX with 5.52%.
Uniswap, Quant, eCash, AAVE, BTC, GRT, and others have gained between 3 to 5% in the past 24 hours. But what about the weekly price gains? How are the cryptos comparing in their seven days price growth?
ETC Leads Others in Weekly Gains
Currently, the ETC price stands at $38.68, indicating a 0.22% increase in 24 hours. While this daily price increase is seemingly lower than others ETC has taken the lead in weekly increases. Its seven days growth surpassed many cryptos in the market.
ETC recorded a 20.47% growth in the past seven days, while others still struggle to add value. For instance, Bitcoin added 3.36% in the last 24 hours, but its weekly price increase is still at 13.13%. Ethereum has gained nothing in 24 hours. Instead, it lost 0.18% today, September 12, even though the slated merge date is fast approaching. But there's still hope since ETH's price is $1,744.66, and its weekly gain...
|ETC Group Says It Will List an Exchange-Traded Product Based on Anticipa...
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.' Ethereum Hard Fork
The Etc Group, a provider of institutional-grade digital asset-backed securities, has said it will list a new exchange-traded product (ETP) based on a hard fork of the Ethereum blockchain that is likely to occur after the so-called 'Merge.' According to a statement issued by the securities provider, the ETP will be listed on the German exchange Xetra on September 16, a day after the forking event.
As outlined in the securities provider's statement, holders of Etc Group's current ethereum ETP (ZETH) will be issued with 'units of the new security free of charge on a 1:1 unit basis.' The statement explained that the new units will be 'in addition to their existing ZETH holdings which will persist and be backed by ETH as before.'
As the Ethereum blockchain's anticipated switch from a proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism approaches, a number of crypto experts believe The Merge will see some 'miners forking ETH to keep a PoW version so they can continue mining.' As a consequence, current ETH holders will likely receive airdrops of a new altcoin called ETHW.
Explaining the reasons behind the Etc Group's plan to list the...
|4 Crypto Tokens Reap Hashpower From The Merge, ETC Secures Most of the H...
20 days ago, a poll was shared on Twitter asking miners where they planned to dedicate their hashrate, after The Merge transitions Ethereum into a proof-of-stake (PoS) blockchain. The proof-of-work (PoW) contenders at the time were tokens like ravencoin, ergo, flux, and ethereum classic. When the poll concluded, flux and ravencoin outpaced the pack in votes, but reality shows ethereum classic has been the main beneficiary of hashrate so far.Twitter Poll With More Than 10,000 Votes Chooses Flux, While Ethereum Classic Ends up Reaping the Benefits Stemming From The Merge
Ethereum Classic (ETC) is gathering most of the hashrate leaving Ethereum (ETH) as there are only four days left until The Merge. According to metrics recorded by 2miners.com, ETC's hashrate reached an all-time high on September 8, 2022, tapping 53.29 terahash per second (TH/s).
Ethereum's hashrate has dropped below the 900 TH/s region and at the time of writing, the network hashrate is 883.78 TH/s. On August 20, 2022, the Twitter account Cryptovium published a poll that asks miners where they will dedicate their hashpower when The Merge is implemented.
'With the imminent PoS ETH Merge, I'm curious what all the miners out there are planning on moving their rigs to,' Cryptovium said. 'Top PoW contenders seem to be RVN, FLUX, ERG, [and] ETC. Are you going with one of these or choosing something else?'
The final results of Cryptovium's poll got 10,347 votes and flux (FLUX) received the most votes with 45.7%. The...
|Ethereum Classic Outperforms Others In 24 Hours With 19% Gains
Crypto assets' prices have recorded more volatility in recent times. There have been some spikes and pullbacks in the price of many. For instance, the beginning of this week saw Bitcoin moving farther from its $20K mark.
Bitcoin lost its hold on the $20K mark on September 2, closing the market at $19,969. Since then, the crypto has struggled to remain afloat with little rallies and dips. But ETH wasn't the only crypto affected by the upgrade hype. Ethereum Classic ETC also felt the positive market sentiment pushing its price above $40.
Ethereum Classic Gains As Merge Approach
ETC is currently trading at $41.240, indicating more than a 19% price increase in 24 hours. The coin has been holding its grip on $32 from August 31 to September 5. It even recorded a brief pullback to $31 and an intraday high of $39 on September 5.
In twenty-four hours, ETC surged by more than 19% as the community awaited the Bellatrix upgrade on Ethereum ETH. As day trading continues, ETC has continued to skyrocket, and there's a likelihood of increased gain before the close of the market.
ETC's price loses gains and currently fluctuates around $36. | Source: ETCUSD price chart from TradingView.com
Will Miners Move to Ethereum Classic?
As the Merge approaches, ETC is positioned to receive more attention from miners and investors. Being a proof of work network, it might be the next option for Ethereum miners after the upgrade.
Recall that mining activities...
|Ethereum Classic is a Dead Project: Cardano's Charles Hoskinson
The feud between the Cardano founder and the Ethereum Classic community appears to have escalated. After an Ethereum Classic proponent accused Charles Hoskinson of attempting to milk the network following the proposed 20% miner tax, the Cardano founder slammed the entire project.
In the latest tweet, Hoskinson called Ethereum Classic a 'dead project' that serves 'no purpose' or 'real compelling argument' for its existence.
'I love how a sustainable development fund turns into a miner tax. ETC still gives me sadness for what could have been. It's a dead project with no purpose or real compelling argument to exist outside of spite.'
It is worth noting that the Cardano exec left Ethereum in 2014 over disagreements with regard to the future direction of the project. He has been a strong supporter of Ethereum Classic since the hard fork in 2016. Last year, Hoskinson even joined the Ethereum Classic Cooperative's Board of Directors.
However, the latest accusations come after the Input Output Global (IOG) CEO proposed a decentralized treasury protocol and suggested the establishment of a development fund for ETC. The proposal would essentially modify ETC block rewards allocation, which did not sit well with many community members. Several miners of the network rejected this idea since it slashed their rewards.
The comment also comes in the backdrop of Ethereum Classic hitting an all-time high record hash rate of 48.82 terra hashes per second (TH/s) this week. The hash rate ...
|Biggest Movers: ETC up Nearly 30% on Tuesday, as Merge Timeline Is Set
Ethereum classic was a notable mover in today's session, as the token rose by nearly 30% on Tuesday. The surge comes as it was confirmed that the Ethereum merge event will take place next week, between September 13-15. Another big mover was avalanche, which rose by over 8% earlier today.Ethereum Classic (ETC)
Ethereum classic (ETC) climbed above the $40 mark on Tuesday, as markets reacted to news of The Merge event.
Following a low of $32.20 to start the week, ETC/USD surged to a peak of $41.46 earlier in the day.
Today's rally saw ethereum classic breakout of a recent ceiling of $40.00, hitting its highest point since August 18 in the process.
As seen on the chart, this breakout comes as the 14-day relative strength index (RSI) also pushed through a resistance of its own.
Currently the index is tracking at a level of 63.72, which is above a ceiling of 61.40, which had been in place since August 17.
The next point of resistance in the indicator looks to be the 66.50 level, and if reached, we could see ETC near $45.00.
Avalanche (AVAX) also resided in the green during today's session, with the token climbing by nearly 8%.
AVAX/USD raced to a high of $20.43 on Tuesday, taking prices close to a key resistance point of $20.50.
This move, which saw prices climb for a fourth consecutive day, resulted in avalanche hitting its highest point since August 30.
Honing in on the chart, it can be seen that the RSI is also near a resistance of its own at 43.10, and is cu...
|Ethereum Classic (ETC) Produces A Godlike Candle, How Far Can It Go?
Ethereum Classic (ETC) produced a godlike candle as the market's sentiments changed to bullish against tether (USDT). The crypto market has become promising as most altcoins appear bullish, coming out of their shells with the like of Ethereum Classic producing double gains ahead of the 'Ethereum Merge' sentiment pulling altcoins higher. (Data from Binance)
Ethereum Classic (ETC) Price Analysis On The Weekly Chart
Weekly ETC Price Chart | Source: ETCUSDT On Tradingview.com
The price of ETC has had a tough time in recent weeks, with the price falling to a weekly low of $14; the price of ETC bounced off from this region as price rallied to a high of $30 after forming a bearish downtrend channel.
ETC price was able to break out of the downtrend channel, forming a strong bullish bias as the crypto market could be set for a minor rally.
The price of ETC saw it rejected from $30, but the price was able to break above this price and retested the channel, thereby flipping the downtrend resistance into support. This has seen the price of ETC remain bullish above $30 as prices continue to rally to $40.
If the ETC price maintains this structure, we could see the price of ETC rejecting another high acting as resistance in the region of $50-57, but if bears push the price of ETC, we could see a retest of $30 acting as a good support area.
Weekly resistance for the price of ETC - $50-$57.
Weekly support for the price of ETC - $30.
Price Analysis Of ETC On The Daily (1D) Chart
|ETC Soars 28%, ETH Up 7% on Bellatrix Upgrade Day (Market Watch)
While bitcoin continues to trade in a tight range below the $20,000 mark, some alternative coins have gone on a tear.
Interestingly, Ethereum and Ethereum Classic have stolen the show, as the latter has soared by double-digits.
ETH and ETC Skyrocket
With the long-anticipated Merge right around the corner, the Ethereum community is getting more and more excited about the transition from PoW to PoS. The latest development on the matter is the Bellatrix update, scheduled to take place later today.
The hype around the event has pushed the second-largest cryptocurrency higher by 6.5%. As a result, ETH now trades at a multi-day high north of $1,650.
Ethereum Classic is an even more impressive performer. The asset has skyrocketed by over 26% in the past 24 hours and has jumped above $40.
Cardano, Solana, and Avalanche are also well in the green, being up by between 4-7%. Although more modest, BNB, XRP, DOT, DOGE, SHIB, and MATIC have also charted some daily gains.
These gains by the altcoins have helped the cumulative market cap of all crypto assets to recover $30 billion in a day, and the metric is now close to $1 trillion once more.
Cryptocurrency Market Overview. Source: Quantify Crypto
Bitcoin Still Below $20K
And while some alternative coins have marked impressive gains on a daily scale, the largest cryptocurrency seems to be stuck around a familiar level.
The asset lost the coveted $20,000 last week and has stood below it ever since, aside from a few brief pumps to and above t...
|Ethereum Classic Hashrate Taps All-Time High Nearing 50 TH/s Ahead of Th...
Ethereum Classic's hashrate surpassed the 40 terahash per second (TH/s) region last Wednesday and four days later, the network's hashpower reached an all-time high (ATH) at 48.82 TH/s on September 4. Ethereum's transition from proof-of-work (PoW) to proof-of-stake (PoS) is expected to take place eight days from now, and a great deal of hashrate has left the crypto asset's network during the last few days.Ethereum Classic's Hashrate Runs Hot Skyrocketing Toward 50 Terahash
The sibling blockchain of Ethereum, known as Ethereum Classic, has been reaping the benefits of Ethereum's upcoming upgrade called The Merge. That's because when The Merge happens, ethereum (ETH) miners will no longer be able to mine ETH as the blockchain will transition to a PoS system.
Four days ago, Bitcoin.com News reported on ETC's hashrate rise over the 40 TH/s zone but at that time, Ethereum's hashrate remained the same. The report noted that the hashrate would likely come in waves, and since the report on August 31, 2022, the waves of hashpower have started to increase.
Metrics recorded by the Ethash mining pool 2miners.com indicates that ETC's hashrate tapped an ATH at 48.82 TH/s on September 4. Ethereum Classic's hashrate is 19.86% higher than the ATH recorded on August 31. At that time, Ethereum's hashrate remained roughly the same but during the course of the last four days, it's been fluctuating more often and declining at the same time.
By the first day of September, ETH's hashrate according ...
|Ethereum Classic Hashrate Taps Another All-Time High, ETH Hashpower Rema...
On August 31, 2022, Ethereum Classic's hashrate reached another all-time high (ATH) this year at block height 15,850,811. Ethereum Classic's global hashpower surpassed the 40 terahash per second (TH/s) region on Wednesday. Despite the fact that the network's hashrate has risen a great deal, Ethereum's hashrate remains relatively unchanged with just over 1,000 TH/s dedicated to the network. 66 Mining Pools Dedicate More Than 1,000 Terahash to Ethereum, Network's Hashrate Remains Steady and Unchanged
At the time of writing, Ethereum's total difficulty is 12374533505752422, and when the total difficulty reaches 58750000000000000000 in roughly 13 days, the network will transition from a proof-of-work (PoW) network to a proof-of-stake (PoS) blockchain via The Merge.
When the transition is codified into the codebase, ethereum (ETH) miners will no longer be able to mine the digital currency. There are roughly 66 ether mining pools currently dedicating Ethash hashrate toward Ethereum, and they represent 1.04 petahash per second (PH/s) or 1,040 (TH/s) of hashpower.
When the change occurs, Ethash miners will have to mine a different network, and they can choose blockchains such as Ethereum Classic, Ravencoin, Beam, and Ergo. It's been widely reported during the last two months that many believe the Ethereum Classic (ETC) network will reap the rewards of ethereum miners migrating to another chain.
In fact, ETC has seen an increase in recent times, and on August 31, 2022, the network h...
|Antpool Reveals Plans to Drop Ethereum Ethash Support, Plans to Keep Min...
Antpool, the bitcoin mining pool affiliated with Bitmain, has announced the crypto mining operation will not manage ethereum accounts after The Merge is implemented. The mining pool is asking participating Antpool miners to add their ethereum withdrawal addresses by September 3, in order to receive the accumulated ether collected by Antpool.Antpool to Stop Supporting Ethereum Following The Merge
On Saturday, August 27, the cryptocurrency mining pool Antpool told customers that it will no longer maintain ETH assets after The Merge. Customers have until September 3 to give an ETH address in order to collect the remaining ether mined by Antpool's ethereum mining operation. Statistics show there is just over 1,000 terahash per second (TH/s) of hashpower dedicated to the ETH blockchain and Antpool is the tenth largest ETH mining pool in terms of hashrate.
The largest ETH mining pool in terms of hashrate is Ethermine, a pool that commands 263 terahash of hashpower compared to Antpool's 17.9 terahash. Ethermine also announced it would stop supporting ETH assets and would not mine a new PoW version of ETH. Antpool declared that The Merge comes with some censorship risk, and the pool will distribute the remaining ETH Antpool mined next month.
'As ETH 2.0 (The Merge) comes along with the risk of censorship among different countries, Antpool, for the sake of clients' asset security, will not be able to maintain the user's ETH assets on the PoS chain,' the mining pool operation detailed ...
|Ethereum Classic Hashrate Taps an All-Time High, ETC Hashpower Jumped 39...
On August 20, 2022, Ethereum Classic's hashrate reached an all-time high at block height 15,776,674 as it tapped 38.37 terahash per second (TH/s). The crypto asset has seen its hashrate surge since Wednesday, August 17, jumping 39.22% higher from 27.56 TH/s to the all-time high (ATH). Ethereum Classic's Hashpower Skyrockets to 38.37 Terahash
Roughly six years after ethereum classic (ETC) miners mined the first ETC block at block height 1,920,000, ETC's hashrate tapped an ATH on August 20, 2022. ETC's hashrate reached 38.37 TH/s at block height 15,776,674.
The hashrate has been added to the ETC chain as Ethereum (ETH) approaches The Merge upgrade on or around September 15, 2022. Four days ago, on August 17, ETC hashrate was 27.56 TH/s and its jumped 39.22% higher since that day.
ETC's largest mining pool is Ethermine as it commands 8.05 TH/s, which is followed by Poolin's 8.02 TH/s. Ethermine's and Poolin's combined hashrate of around 16 TH/s is more than 40% of ETC's global hashrate.
ETC was initiated after the DAO hack in 2016 and the first ETC block was mined on July 20, 2016. Proponents of ETC believe it is the original unchanged Ethereum blockchain as the DAO hard fork erased the event from the blockchain.
In a commitment to sticking to proof-of-work, Ethereum Classic developers removed the difficulty bomb from the ETC chain. ETC's difficulty bomb removal took place at block height 5,900,000.
While Ethereum Classic (ETC) has seen a significant hashrate spike, other ...
|PoW Miners Rake in Profits Mining ETH Until the End, Ethash Networks Exp...
In just over a month's time, The Merge is likely to be implemented on the Ethereum blockchain and the network's proof-of-work (PoW) miners will be forced to mine another coin. So far, it seems ethereum miners are sticking with the PoW Ethereum chain until the very end as profits have increased. While Ethereum will change the consensus ruleset, a great number of crypto community members are attempting to guess where the hashrate will go after The Merge transition.The Crypto Community Wants to Know Where Ethereum Miners Will Go After the Merge - There's a Myriad of Different Theories
On August 11, 2022, Ethereum developers let the community know during a Consensus Layer Call livestream that The Merge will most likely happen on or around September 15th to the 16th. The following day, Ethereum co-founder Vitalik Buterin confirmed that The Merge would likely happen on September 15. 'The terminal total difficulty has been set to 58750000000000000000000. This means the ethereum PoW network now has a (roughly) fixed number of hashes left to mine,' Buterin said.
Since then, the question everyone has been asking is where the current Ethereum hashrate will go after the transition takes place. There's always been a lot of speculation that most of the ETH hashrate will move to Ethereum Classic (ETC), but that's not everyone's opinion. Besides the proposed ETHW fork expected to happen, which very well could take a fraction of the ETH hashrate, and there are crypto coin supporters that expe...
|Biggest Movers: ETC Nears 4-Month High, LINK Hits Highest Point Since Ju...
Ethereum classic was trading close to its highest point since April, as the token rose by nearly 10% on Friday. Despite crypto markets being mostly in the red in today's session, a handful of tokens managed to climb higher. Chainlink was another one of these tokens, as it hit a two-month high earlier in the day.Ethereum Classic (ETC)
Etherum classic (ETC) was trading close to a four-month high in today's session, as the token extended recent gains.
Following three consecutive days of gains, ETC/USD rallied to an intraday high $44.31 on Friday.
This comes less than 24 hours after the token was at a low below $38.00, and it's now climbing towards a recent high of $45.40.
Looking at the chart, this peak at the $45.40 area is the most ETC has hit since April 7, which came days after prices fell below $50.00.
As of writing, ethereum classic has now marginally declined, and is currently trading at $42.04.
This comes as the relative strength index (RSI) of 14 days collided with a resistance level of 71, which is the highest point since July 31.
Should ETC bulls intend to recapture those multi-month highs, then this is an obstacle that must be overcome.
In addition to ETC, chainlink (LINK) was trading higher in today's session, as prices climbed to their highest point since June.
After residing at a floor of $8.85 on Friday, LINK/USD surged to a high of $9.43 earlier in today's session.
This peak saw LINK trade at its most since June 9.
As seen on the chart, the m...
|Bitcoin Calms at $24K as Ethereum Classic (ETC) Soars 10% Daily: Market ...
The past 24 hours saw the cryptocurrency market calm down a bit, with no major changes happening across the top 10 coins by means of total capitalization. However, some cryptocurrencies performed better than others, so let's dive in.
Bitcoin Calms at $24,000
After a serious run-up from $22,800 to almost $25,000 in the previous two days, Bitcoin's price has finally calmed down and trades at around the $24K mark.
It appears that the volatility surrounding the announcement of July's CPI numbers has passed, and now the market is in search of the next direction.
Source: Binance via TradingView
That said, BTC failed to overcome the $25K level before retracing to where it currently trades, but overall - in the past 24 hours - it's down some 2%.
Altcoins Flat, Red Prevails
Despite the relative calmness, it appears that the market is taking a breather from the recent rallies and is trading predominantly in the red.
Source: Quantify Crypto
As seen in the heatmap above, most of the cryptocurrencies are down slightly in the past day. The most obvious outlier is Ethereum Classic (ETC). It managed to increase by a whopping 10% in an otherwise boring market. It's worth noting that this increase came on the back of more news associated with the Ethereum 2.0 merge, meaning that investors might be hedging against the possibility of a failure.
Other major gainers include Huobi Token (up 20%) and ANKR (up 40%). The latest soared after Binance Labs revealed a strategic investment in Ankr Protocol...
|Biggest Movers: AVAX Nears Highest Level Since May, ETC Moves Towar...
Avalanche rallied on Wednesday, as the token broke out of a key resistance level on its way towards a multi-month high. Crypto markets mostly rallied as the session progressed, following the release of the latest U.S. inflation numbers. Ethereum classic was one such token, as it moved closer to $40.Avalanche (AVAX)
Avalanche (AVAX) was a big mover on Wednesday, as the token moved closer to its highest level since May.
Following a low of $26.71 on Tuesday, AVAX/USD surged to an intraday peak of $30.00 earlier in today's session.
The move sees AVAX near Monday's peak of $30.87, which is the highest point the token has hit since May 23.
Today's price rally comes as crypto markets reacted to the latest U.S. inflation report, which showed a decline from 9.1% in June to 8.5% in July.
As a result of this, the 14-day relative strength index (RSI) raced past a resistance of its own at 69, and is currently tracking at 71.40.
Although AVAX is already overbought, bulls may look to recapture Monday's high before potentially retreating, giving way to bears.
Ethereum Classic (ETC)
Ethereum classic (ETC) was another notable mover in today's session, as it rebounded following Tuesday's decline.
Tuesday saw ETC/USD slip to a bottom of $35.75, however a day later, prices of the token surged to a peak of $38.94.
This increase in price has seen ethereum classic near a key resistance level at the $40.00 mark.
ETC has not broken past this ceiling since July 31, with bearish pressure preventing b...
|Bitcoin Dormant at $30K While Ethereum Classic (ETC) Pumps 10%: Market W...
Bitcoin recovered most losses from yesterday’s dip below $29,000 but failed at $30,000 once again. The altcoins have continued to trade sideways with a few notable moves in either direction. Ethereum Classic stands out as the most significant gainer.
Bitcoin Back Below $30K
The primary cryptocurrency has had its issues with the coveted $30,000 line for over a week now. It made several attempts to overcome that line but was met with rejection every single time, which pushed it south by up to a few thousand dollars almost immediately.
The latest such example came earlier this week when BTC pumped to $30,600. The same scenario followed, and the asset plummeted by precisely $2,000 to a low of $28,600.
Nevertheless, the bulls stepped up and drove it upwards once again. For a brief moment, BTC surpassed $30,000 once again but now stands just under it.
As such, its market capitalization has gone back down to $565 billion, while the dominance over the altcoins has increased slightly to 44.7% on CoinMarketCap.
BTCUSD. Source: TradingView
ETC Stands Out
The altcoins have calmed as well recently. Ethereum, for example, has followed bitcoin’s price movements to a large extent. ETH’s major line that it fails to overcome decisively is $2,000.
It jumped above that level two days ago but dipped below it yesterday and has remained there now as well after a minor daily retracement. Ripple, Cardano, Solana, Dogecoin, Avalanche, and Shiba Inu are also slightly in the red.
|Biggest Movers: FTM, ETC Lead Crypto Gainers to Start the Week
ETC rose by over 10% to start the trading week, as prices rose to a two-week high on Monday. FTM also saw its value increase during today's session, climbing by nearly 20% earlier in the day.
Ethereum Classic (ETC)
ETC was one of the most notable gainers during Monday's session, as cryptos were mostly in the green to start the week.
Following a low of $20.56 on Sunday, ETC/USD surged to an intraday peak of $23.65 earlier in the day.
Prices have now risen for three consecutive sessions as ETC continues to move away from its recent support level at $19.50.
Since moving away from this floor, prices are now hovering slightly below resistance of $24.10, with the RSI also at a ceiling.
Looking at the chart, the Relative Strength Index is currently tracking at a resistance point of 45.70, which hasn't been broken since early April.
ETC has spent the majority of the year trading above $25, and should it head back towards that point, the RSI ceiling must give way.
Whilst ETC was one of the most notable movers on Monday, FTM was undoubtedly the biggest, as prices rose by nearly 20%.
FTM/USD rallied to an intraday peak of $0.5183 earlier in the day, which is the most it has traded at since May 10.
This almost two-week high comes following a rally at the price floor of $0.3100 five days ago, as FTM was deep in consolidation.
Since then, prices are now closer to resistance of $0.6000, which is an area prices haven't hit in the past two weeks.
Similar to ETC, we may not ...
|Biggest Movers: ETC Climbs to 1-Week High, as AXS Moves Away From 10-Mon...
During a volatile day of trading, ethereum classic rose to a one-week high earlier in the session, before falling victim to a red wave. AXS also rose today, climbing by over 12% in the day, however, a bearish wave pushed prices lower as the day progressed.
Ethereum Classic (ETC)
ETC climbed to a one-week high earlier in Thursday's session, when bulls were still buoyed by yesterday's Fed decision.
However, as the day progressed, these bulls turned to bears, as the magnitude of the current inflationary landscape continued to spark market uncertainty.
ETC/USD rose to an intraday peak of $32.36 earlier in the session, which was its highest point since April 25.
At that point, prices were up by nearly 9% from Wednesday's lows, however, these gains swiftly fell, and as of writing prices are now trading at $28.28.
Looking at the chart, this decline came as the prices failed to break out of resistance at $33, with bears using this as an opportunity to re-enter the market.
The 14-day RSI is now also tracking below a ceiling of its own, at 43, as the wave of bearish pressure pushed the price into oversold territory.
Axie Infinity (AXS)
AXS started the day being easily one of the biggest gainers, climbing by over 12%, however, these gains were also lost later in the session.
To start the day, AXS/USD followed up Wednesday's low of $29.04, by climbing to a peak of $34.75 earlier today.
This gain saw prices move away from the floor of $28.90, which was close to a ten-month low for the ...
|Biggest Movers: ETC Biggest Gainer in Top 30 on Thursday, ZEC Also Rises
Ethereum classic was easily the biggest gainer in the top 30 on Thursday, as the global crypto market was trading 0.9% lower as of writing. ZEC was also higher on the day, in what was a choppy session, as volatility remained higher, following a recent decline in prices.
Ethereum Classic (ETC)
Ethereum classic (ETC) was one of the only cryptocurrencies in the top 30 to climb on Thursday, following a turbulent market session.
Following a low of $38.40 on Wednesday, ETC/USD rallied to a peak of $43.11 during today's session.
This comes after prices rebounded from the support point near $38.40, which has been in place since March 21.
Thursday's surge in ETC, comes after two consecutive sessions of declines that pushed prices further away from a recent five month high of $54.59.
Looking at the chart, today's move came as the 14-day RSI bounced away from its floor of 44.50, and moved past the ceiling of 48.
Price strength is now tracking at 52.21, which is somewhat overbought, meaning that today's gains may be temporary, and could still reverse.
This uncertainty will likely worry today's bulls, and could mean that some may close positions, and secure profits.
Similar to ETC, zcash (ZEC) also rebounded after recent losses on Thursday, with today's gains ending three consecutive days of declines.
As of writing this, ZEC/USD hit an intraday high of $176.86 today, as the world's 52nd largest cryptocurrency climbed by roughly 3.25%.
Gains on Thursday follows a low of $15...
|Biggest Movers: ETC up 80% in the Last Week, as Loopring Gains 42% on We...
Loopring was trading by over 42% on Wednesday, overtaking QNT as the world's 65th largest crypto in the process. This came as ethereum classic was trading 10.30% higher on the day, taking its one week gain to over 80%.Loopring (LRC)
On Wednesday, loopring (LRC) rose to its highest level in three months, a move which saw it cement itself as the world's 65th largest cryptocurrency.
Following a low of $0.8075 on Tuesday, LRC/USD rallied to an intraday high above $1.21 during hump-day.
Today's move came as LRC has consolidated for the last few months, moving between support of $0.6222 and resistance of $0.8889.
However, prices finally broke out of this range today, coming after bulls piled on the pressure, once the floor in the 14-day RSI of 51.16 failed to break.
Looking at the chart, price strength then rose to a high above 71, which is the most overbought it has been since November.
Despite this, history has shown that the RSI can go to as high as 91, so although it is now relatively overbought, there could still be further gains in loopring (LRC).
Ethereum Classic (ETC)
Ethereum classic (ETC) was over 10% higher earlier in the session on Wednesday, as prices continued to hover close to a five-month high.
ETC/USD rose to an intraday peak of $54.07 during Wednesday's session, which was marginally below yesterday's high of $54.37.
That was the most ETC has traded since November last year, as markets were falling from a then-high of $65 in that month.
During the past ten days...
|Bitcoin Falls Back to $42K, Ethereum Classic Up Another 10% (Market Watc...
After briefly exceeding $43,000 to mark a 20-day high, bitcoin retraced slightly and fell back to the January 2021 all-time high of around $42,000. Most altcoins have stalled today, but Ethereum Classic continues to roll on with another massive increase.
Bitcoin Retraces to $42K
The past several days went rather well for the primary cryptocurrency without any excessive movements in either direction.
One of the most substantial price gains came on March 18th when BTC jumped from $40,000 to a daily high of $42,000. It fell back by a few hundred dollars in the following days before it went on the offensive once again yesterday.
This time, bitcoin spiked by $2,000 and shot up above $43,000 for the first time since March 3rd. It remained around that level for most of the trading day, but the bears came to play and pushed it south.
As a result, BTC slipped to $42,000, and it stands around that level once again now. As such, its market capitalization has declined slightly to $800 billion.
BTCUSD. Source: TradingView
Alts Stall: ETC on a Roll
The altcoins marked impressive gains in the past few days, but most have charted minor declines since yesterday.
Ethereum touched $3,000 for the first time in weeks but failed to remain above that coveted level. As of now, a 2% decline has pushed the second-largest crypto to $2,950.
Binance Coin, Ripple, Avalanche, Dogecoin, and Shiba Inu are also slightly in the red. In contrast, Cardano, Solana, and Polkadot have seen minor increases.
|Ethereum Classic Gains 60% In One Week, Why The Merge Could Push Its Pri...
Ethereum Classic moves to the upside and recorded impressive performance over the last week. The Merge will finalize the launch of this network’s PoS chain.
At the time of writing, Ethereum Classic (ETC) trades at $43 and records a 10% and 66% profit in the last 24 hours and 7 days, respectively.
ETC trends to the upside on the 4-hour chart. Source: ETCUSDT Tradingview
The Merge is expected to reduce Ethereum’s energy usage by almost 100%, contribute to making ETH a deflationary asset, and provide stakers with rewards for securing the network.
In addition, this event could mark a new step in the network’s adoption curve as users will leverage layer-2 scalability solutions, reducing network transaction fees.
The Merge also means no more ETH mining sector. These operations will need to use their hardware to mine a different cryptocurrency. Ethereum Classic seems like the most logical option.
The Merge will:
Drop Ethereum's energy usage by ~99.95%Drop Ethereum's issuance from ~5.4M ETH/yr to ~0.5M ETH/yrProvide ~5-15% APR on staked ETH (as TX fees will go to stakers)
The Merge will not lower transaction fees. L2s and EIP-4844 will take care of that. pic.twitter.com/8cwslEQtgM
— pseudotheos (@pseudotheos) March 21, 2022
Miners will no longer be needed with the deployment of Ethereum 2.0. All of this chain hash power will migrate to ETC.
As the event that will make Eth 2.0 happen seems imminent, the market seems to be pricing in this potential ha...
|Market Watch: Bitcoin Fails at $42K, Ethereum Classic Surges 50% Weekly
After rising above $42,000 yesterday, bitcoin failed to maintain that level and dipped by more than $1,000 hours later. Most altcoins have also seen minor losses on a daily scale, with a few exceptions. Ethereum Classic is the most apparent example as ETC is up by about 5% in a day and 50% in a week.
Bitcoin Fails at $42K
It was in the middle of last week when bitcoin initiated an impressive leg up surging by $3,000 to $42,000, which, actually, turned out to be a false breakout. Minutes later, BTC found itself retracing back to $39,000.
However, the generally more positive vibe in the market pushed the asset north again, and it reclaimed $40,000 even after the US Federal Reserve confirmed its plans to increase the interest rates by 25 basis points.
As the weekend approached and arrived, bitcoin pumped once more and tapped a 10-day high at $42,500, as reported yesterday. Nevertheless, it failed at that level and slipped by almost $2,000.
The bulls stepped up at that point and drove BTC up to its level of over $41,000, but its market capitalization is still well below $800 billion.
BTCUSD. Source: TradingView
Altcoins Retrace While ETC Soars
The alternative coins also charted some impressive gains in the past few days, but most have turned red now. Ethereum tried its hand at breaching $3,000 but failed in its tracks, and a near 2% decline on a daily scale has pushed ETH to $2,840 as of now.
Binance Coin touched and briefly exceeded $400 but retraced in the following hours to be...