In fact, different predictions concerning the altcoin have come true too. ETC, for instance, at press time, had jumped to $40 from its value of $24.65 on 25 July. Question is, can it sustain this surge?ETC’s price highlighted a 68% hike in just 5 days. In fact, the altcoin has jumped by 124.2% in two weeks. Simply put, Ethereum Classic did benefit from Ethereum’s long-awaited upgrade, dubbed “The Merge.
However, not just the price, other attributes seemed to paint a positive sketch as well. For starters, consider the hashrate – On 28 July, the hashrate for Ethereum Classic registered an unprecedented surge, as seen in the graph below. As per Bitinfocharts, the hashrate stood at 26.773 TH/s, an increase of 23.90% from the beginning of this month.Looking at the market capitalization, the #19th ranked crypto’s figures stood at $5.39B – Representing a hike of 46.5% since its figures of $3.64 billion on 23 July. The sheer rise in the active addresses could support this narrative too.
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