On Thursday, following the official proof-of-stake (PoS) transition announcement from the Ethereum Foundation, Ethereum Classic’s hashrate tapped one other all-time excessive at block peak 15,806,925. The newest bounce to 38.64 terahash marks the community’s second document excessive in 5 days, as Ethereum Classic captured 38.37 terahash per second (TH/s) on August 20, 2022.
Ethereum Classic Hashrate Spikes Following the Latest Merge Announcement
The Ethereum Foundation lately printed a weblog submit known as the “Mainnet Merge Announcement,” which supplies the general public extra exact dates regarding The Merge improve. At the time of writing, The Merge is anticipated to go reside on Sept 10-20, 2022, and when that occurs, Ethash proof-of-work (PoW) miners might be pressured to mine one other Ethash-supporting crypto community.
Ethash miners have just a few cash they will select from, like ravencoin (RVN), ergo (ERGO), beam (BEAM), and ethereum basic (ETC). Five days in the past, Bitcoin.com News reported on ETC’s hashrate tapping an all-time excessive at 38.37 TH/s at block peak 15,776,674. On August 25, 2022, ETC surpassed that document because the community’s hashrate reached 38.64 TH/s at block peak 15,806,925.
There’s an incredible chance ETC may surpass that document once more within the close to future as a result of the community jumped over the August 20 document on August 24 at block peak 15,801,069 when it reached 38.40 TH/s. Moreover, there’s nonetheless 975.15 TH/s of hashpower pointed on the Ethereum (ETH) community as we speak. While there are just a few completely different Ethash supporting cash, to this point, Ethereum Classic has been the primary beneficiary of The Merge.
Ethereum Classic’s 30-Day Gains Outshine Ether’s Price Rise Last Month
Ethereum basic (ETC), the community’s native token, has additionally managed to climb from the twentieth largest market valuation to the nineteenth, as ETC costs jumped 10.2% larger within the final 24 hours. ETC jumped from $34.57 per unit in the course of the early morning buying and selling periods on Thursday (EST), to the day’s value excessive at $38.09 per unit.
ETC has managed to climb 61.2% larger in opposition to the U.S. greenback over the last 30 days. In reality, ETC’s value rise over the previous month is larger than ethereum’s (ETH) 18.4% rise in the identical time interval.
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