data, Ethereum Classic has reentered the top 20 after a blistering rally in recent weeks. Ethereum Classic presently ranks as the 18th largest cryptocurrency with a market capitalization of $5.77 billion. At the time of publication, Ethereum Classic was changing hands at $42.85, up 27.59% in the last 24 hours and 60% since the past week.Analysts say that ETC is partly being driven by speculation that ETH miners might switch to ETC in the event of the ''Merge.
According to Ethereum Classic, it is in a good position to take on the majority of this abandoned Ethash hashrate as it is supposedly the only chain compatible with ETH miners' equipment.
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