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

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum Classic	ETCUSD	Crypto	4,200,118,172	Ethash

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum Classic

ETCUSD

Crypto

4,200,118,172

Ethash

	Price Change	Price Change %	Current Price	Bid Price	Offer
	1.60	5.76%	29.40	29.33	29.34

Price Change

Price Change %

Current Price

Bid Price

Offer

1.60

5.76%

29.40

29.33

29.34

High Price	Low Price	Open Price	Prev. Close	52 Week Range
30.04	27.67	27.93	27.80	12.65 - 39.74

High Price

Low Price

Open Price

Prev. Close

52 Week Range

30.04

27.67

27.93

27.80

12.65 - 39.74

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	10:35:58	0.899097	29.40	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

10:35:58

0.899097

29.40

USD

Price x Volume	Volume	Base Symbol	Related Pairs
4,631,071.31	159,624.07	ETC	ETCEUR	ETCGBP	ETCBTC

Price x Volume

Volume

Base Symbol

Related Pairs

4,631,071.31

159,624.07

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

27/07/2022 8:47pm

NEWSBTC

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). 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.

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ETCUSD Ethereum Classic