{"id":501283,"date":"2022-09-06T23:49:58","date_gmt":"2022-09-06T23:49:58","guid":{"rendered":"https:\/\/wncen.com\/?p=501283"},"modified":"2024-06-11T13:44:17","modified_gmt":"2024-06-11T13:44:17","slug":"ethereum-classic-outperforms-others-in-24-hours-with-19-gains","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-classic-outperforms-others-in-24-hours-with-19-gains\/","title":{"rendered":"Ethereum Classic Outperforms Others In 24 Hours With 19% Gains"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Crypto assets&#8217; 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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">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. Also, Ethereum didn&#8217;t fare too well until September 6.\u00a0\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><strong>Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-struggles-to-claim-the-20000-mark-amid-ongoing-bearish-market\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Struggles To Claim $20,000 Mark Amid Bear Market<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">The Bellatrix upgrade to take place the same day pushed its price by 4.3%, enabling it to climb above the $1500 mark to $1655. But ETH wasn&#8217;t the only crypto affected by the upgrade hype. Ethereum Classic ETC also felt the positive market sentiment pushing its price above $40.\u00a0<\/span><\/p>\n<h2><b>Ethereum Classic Gains As Merge Approach\u00a0\u00a0\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400\">ETC is currently <a href=\"https:\/\/www.tradingview.com\/chart\/\" target=\"_blank\" rel=\"noopener nofollow\">trading<\/a> 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.<\/span><\/p>\n<p><span style=\"font-weight: 400\">In twenty-four hours, ETC surged by more than 19% as the community awaited the Bellatrix upgrade on Ethereum ETH. As day trading continues, <\/span><a href=\"https:\/\/www.tradingview.com\/chart\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">ETC has continued to skyrocket<\/span><\/a><span style=\"font-weight: 400\">, and there&#8217;s a likelihood of increased gain before the close of the market.\u00a0<\/span><\/p>\n<figure id=\"attachment_501287\" aria-describedby=\"caption-attachment-501287\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-501287\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/09\/ETCUSD_2022-09-06_23-41-38.png?resize=860%2C534\" alt=\"ETCUSD_2\" width=\"860\" height=\"534\"><figcaption id=\"caption-attachment-501287\" class=\"wp-caption-text\">ETC&#8217;s price loses gains and currently fluctuates around $36. | Source: ETCUSD price chart from <a href=\"https:\/\/www.tradingview.com\/chart\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2><b>Will Miners Move to Ethereum Classic?\u00a0<\/b><\/h2>\n<p><span style=\"font-weight: 400\">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.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Recall that mining activities will cease to exist once Ethereum migrates from PoW to proof of stake. The event-tagged Paris upgrade will be the last to push the network into the long-anticipated newer version.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the plans, a difficulty bomb on the network will increase the energy and computational requirements of validating transactions after the Merge. With the increased requirements, miners&#8217; interest will wane as the activities will no longer be profitable.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">That&#8217;s why some miners earlier announced plans to fork the Ethereum network. The aim was to maintain the proof of work network and continue their mining activities. However, this plan received a mixed reaction in the community as many supported it while others reacted negatively.\u00a0<\/span><\/p>\n<h2><b>What&#8217;s ETC Price Prediction?<\/b><\/h2>\n<p><span style=\"font-weight: 400\">By analyzing the current price movement for ETC, the token&#8217;s future price might become more positive contrary to what <\/span><a href=\"https:\/\/changelly.com\/blog\/ethereum-classic-etc-price-prediction\/#ETC_Price_Forecast_for_September_2022\" rel=\"nofollow\"><span style=\"font-weight: 400\">analysts predicted<\/span><\/a><span style=\"font-weight: 400\"> for 2022. In addition, if the miners move to continue their operations on ETC, the Ethereum fork will see more traction.\u00a0<\/span><\/p>\n<p style=\"text-align: center\"><strong>Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/watch-ethereum-merge-ethusd\/\" target=\"_blank\" rel=\"noopener \">WATCH: Ethereum Gains Momentum Ahead Of The Merge | ETHUSD September 6, 2022<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">Also, analysts have mentioned that the move to ETC will increase its hash rate leading to a drop in risk exposure. Recall that the development team of Ethereum moved to the latest version after the hard fork in July 2016. That&#8217;s why ETC has continued to rely on diverse contributors to remain relevant.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">But with increased miners&#8217; participation, more developers will join, and investors&#8217; interest will grow. Also, the chances of 51% attacks will reduce, pushing the network to a better footing and greater attention in the crypto space.\u00a0<\/span><\/p>\n<pre style=\"text-align: center\">Featured image from Pixabay and chart from TradinView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Crypto assets&#8217; 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.\u00a0 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. Also, Ethereum didn&#8217;t fare too well until September 6.\u00a0\u00a0 Related Reading: Bitcoin Struggles To Claim $20,000 Mark Amid Bear Market The Bellatrix upgrade to take place the same day pushed its price by 4.3%, enabling it to climb above the $1500 mark to $1655. But ETH wasn&#8217;t the only crypto affected by the upgrade hype. Ethereum Classic ETC also felt the positive market sentiment pushing its price above $40.\u00a0 Ethereum Classic Gains As Merge Approach\u00a0\u00a0\u00a0 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&#8217;s a likelihood of increased gain before the close of the market.\u00a0 Will Miners Move to Ethereum Classic?\u00a0 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.\u00a0 Recall that mining activities will cease to exist once Ethereum migrates from PoW to proof of stake. The event-tagged Paris upgrade will be the last to push the network into the long-anticipated newer version.\u00a0 According to the plans, a difficulty bomb on the network will increase the energy and computational requirements of validating transactions after the Merge. With the increased requirements, miners&#8217; interest will wane as the activities will no longer be profitable.\u00a0 That&#8217;s why some miners earlier announced plans to fork the Ethereum network. The aim was to maintain the proof of work network and continue their mining activities. However, this plan received a mixed reaction in the community as many supported it while others reacted negatively.\u00a0 What&#8217;s ETC Price Prediction? By analyzing the current price movement for ETC, the token&#8217;s future price might become more positive contrary to what analysts predicted for 2022. In addition, if the miners move to continue their operations on ETC, the Ethereum fork will see more traction.\u00a0 Related Reading: WATCH: Ethereum Gains Momentum Ahead Of The Merge | ETHUSD September 6, 2022 Also, analysts have mentioned that the move to ETC will increase its hash rate leading to a drop in risk exposure. Recall that the development team of Ethereum moved to the latest version after the hard fork in July 2016. That&#8217;s why ETC has continued to rely on diverse contributors to remain relevant.\u00a0 But with increased miners&#8217; participation, more developers will join, and investors&#8217; interest will grow. Also, the chances of 51% attacks will reduce, pushing the network to a better footing and greater attention in the crypto space.\u00a0 Featured image from Pixabay and chart from TradinView.com<\/p>\n","protected":false},"author":568,"featured_media":501286,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[15811,1946,9134,15822,9141],"class_list":["post-501283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-etcusd","tag-ethereum","tag-ethereum-classic","tag-ethereum-classic-etc","tag-ethereum-classic-price-technical-analysis"],"acf":[],"yoast_head":"\n<title>Ethereum Classic (ETC) Outperforms Others In 24 Hours With 19% Gains.\u00a0<\/title>\n<meta name=\"description\" content=\"Ethereum Classic ETC also felt the positive market sentiment pushing its price 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