Ethereum Classic Hashrate, Prices Surge as Miners Prepare for Post-Merge Reality

caused a hard network fork that split the blockchain into two. The original chain continued as Ethereum Classic, while the new one was called Ethereum.$110 billion in total value

ETC prices did jump 10-fold during a two-month period in the 2021 bull market, but that movement came amid a speculative frenzy in the crypto market as opposed to solid fundamental growth.instead. The Merge, which will shift Ethereum from its current proof-of-work consensus mechanism to a proof-of-stake design, has turned the focus of key network participants back to Ethereum Classic.

"Post Ethereum merge, the Ethereum PoW miners will need to mine other coins since Ethereum is moving to PoS," said Hosam Mazawi, a co-founder at non-fungible token project Snook, in a Telegram message."The options are Ethereum Classic or some new Ethereum fork.", making the Merge akin to a death knell for a significant chunk of cash.

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