Ethereum Classic’s Hashrate, Transactions up 24% and 62% in One Month as Ethereum’s Merge Draws Nearer

Summary:

• Ethereum Classic’s metrics person seen a important increment this period owed to Ethereum’s merge being scheduled for mid-September.
• Ethereum Classic hashrate has accrued by 23.90% since the opening of July.
• Its regular transactions person besides accrued by 62.90%.
• Ethereum Classic’s terms has besides accrued by implicit 200% successful July.

Ethereum Classic continues to beryllium the sole beneficiary of Ethereum’s ongoing modulation from a proof-of-work web to proof-of-stake. The speculation that ETC could sorb immoderate of Ethereum’s proof-of-work ecosystem has resulted successful galore of ETC’s metrics rising importantly successful July and aft the Ethereum developer squad confirmed that the Merge would hap successful mid-September.

Ethereum Classic Hashrate Increased by 23.90% successful July.

According to a report by PANews, Ethereum Classic’s hashrate deed 26.773 TH/s connected July 28th, signifying an 8.10% increment successful 24 hours and a 23.90% increment from the opening of July. However, Ethereum Classic’s existent hashrate is inactive beneath the mean level witnessed successful April of this year.

ETC’s hashrate. Source, panewslab.com.

Ethereum Classic Daily Transactions accrued by 62% successful July.

Additionally, the study pointed retired that Ethereum Classic’s regular transactions accrued from 59,900 astatine the opening of July to 97,400 connected July 28th. This marked a 62.60% increment successful the stated regular transactions.

At the aforesaid time, the fig of ETC progressive addresses reached its highest worth of 66,200 connected July 28th, marking a 70.62% increment from the opening of the month.

Ethereum Classic’s Value has Increased by 64.7% successful 7 days.

The study went connected to item that the worth of ETC has besides benefited from the ongoing speculation that Ethereum Classic could sorb immoderate of Ethereum’s ecosystem post-merge. In the past week alone, ETC has accrued by 64.7% to deed its existent levels astir $42.

Further checking the regular ETC/USDT illustration beneath reveals that the integer plus has gained by astir 219% since the opening of the period erstwhile it was valued astatine $14.20.

Also, from the chart, it tin beryllium observed that its regular MACD, MFI, RSI, and commercialized measurement each hint astatine an ongoing pullback that could spot Ethereum Classic driblet to the $37 terms country arsenic support. If this country fails, ETC has $35 and $33 to supply a imaginable brushed landing.

If Bitcoin holds the $24k terms country arsenic support, Ethereum Classic could proceed climbing towards $50 successful the adjacent fewer days oregon weeks.

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