{"id":28210,"date":"2022-09-06T11:55:51","date_gmt":"2022-09-06T11:55:51","guid":{"rendered":"http:\/\/egrowonline.com\/?p=28210"},"modified":"2022-09-06T11:55:51","modified_gmt":"2022-09-06T11:55:51","slug":"ethereum-classic-etc-ethereum-classic-etc-shoots-up-26-to-emerge-as-days-top-gainer-ahead-of-bitcoin-ethereum-dogecoin-heres-why","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=28210","title":{"rendered":"Ethereum Classic ($ETC) \u2013 Ethereum Classic (ETC) Shoots Up 26% To Emerge As Day&#8217;s Top Gainer Ahead Of Bitcoin, Ethereum, Dogecoin: Here&#8217;s Why"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"core-block\"><strong class=\"core-block\">Ethereum Classic <\/strong><span class=\"ticker\" data-ticker=\"ETC\/USD\" data-exchange=\"CRYPTO\">ETC\/USD<\/span> soared over 26% to $40.65 over 24 hours leading up to early Tuesday morning.<\/p>\n<figure class=\"core-block\">\n<table class=\"core-block\">&#013;<\/p>\n<caption>Ethereum Classic (ETC) Price Performance<\/caption>\n<p>&#013;<\/p>\n<thead>&#013;<\/p>\n<tr>&#013;<\/p>\n<th scope=\"\"><strong>Time-frame<\/strong><\/th>\n<p>&#013;<\/p>\n<th scope=\"\">% Change (+\/-)<\/th>\n<p>&#013;<br \/>\n\t\t<\/tr>\n<p>&#013;\n\t<\/thead>\n<p>&#013;<\/p>\n<tbody>&#013;<\/p>\n<tr>&#013;<\/p>\n<td>24-hour<\/td>\n<p>&#013;<\/p>\n<td>26.2%<\/td>\n<p>&#013;<br \/>\n\t\t<\/tr>\n<p>&#013;<\/p>\n<tr>&#013;<\/p>\n<td>24-hour against <strong>Bitcoin<\/strong> <span class=\"ticker\" data-ticker=\"BTC\/USD\" data-exchange=\"CRYPTO\">BTC\/USD<\/span><\/td>\n<p>&#013;<\/p>\n<td>23.8%<\/td>\n<p>&#013;<br \/>\n\t\t<\/tr>\n<p>&#013;<\/p>\n<tr>&#013;<\/p>\n<td>24-hour against <strong>Ethereum<\/strong> <span class=\"ticker\" data-ticker=\"ETH\/USD\" data-exchange=\"CRYPTO\">ETH\/USD<\/span><\/td>\n<p>&#013;<\/p>\n<td>23.4%<\/td>\n<p>&#013;<br \/>\n\t\t<\/tr>\n<p>&#013;<\/p>\n<tr>&#013;<\/p>\n<td>7-day<\/td>\n<p>&#013;<\/p>\n<td>19.9%<\/td>\n<p>&#013;<br \/>\n\t\t<\/tr>\n<p>&#013;<\/p>\n<tr>&#013;<\/p>\n<td>30-day<\/td>\n<p>&#013;<\/p>\n<td>8.8%<\/td>\n<p>&#013;<br \/>\n\t\t<\/tr>\n<p>&#013;<\/p>\n<tr>&#013;<\/p>\n<td>&#013;<\/p>\n<p>YTD-performance<\/p>\n<p>&#013;\n\t\t\t<\/td>\n<p>&#013;<\/p>\n<td>14.8%<\/td>\n<p>&#013;<br \/>\n\t\t<\/tr>\n<p>&#013;<br \/>\n\t<\/tbody>\n<p>&#013;<br \/>\n<\/table>\n<\/figure>\n<p class=\"core-block\"><em class=\"core-block\">See Also: <\/em><a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/get-free-cryptocurrency-right-now\" class=\"core-block\" rel=\"noopener\"><em class=\"core-block\">How To Get Free Crypto<\/em><\/a><\/p>\n<h3 class=\"core-block\">The ETC Factors<\/h3>\n<ul class=\"core-block\">&#013;<\/p>\n<li class=\"core-block\">ETC was among the top two gainers on price tracking websites, CoinMarketCap and CoinGecko.The cryptocurrency was also seen trending on both these websites<\/li>\n<p>&#013;<\/p>\n<li class=\"core-block\">Ethereum Classic, the inheritor of Ethereum\u2019s original blockchain post a contentious 2016 hard fork, was seen trending among retail investors on Stocktwits at the time of writing.\u00a0<\/li>\n<p>&#013;<\/p>\n<li class=\"core-block\">Trading volume for ETC soared a whopping 530.6% to $2.56 billion over 24 hours, according to data from CoinMarketCap.<\/li>\n<p>&#013;<\/p>\n<li class=\"core-block\">ETC was among the most-mentioned coins on Twitter at the time of writing, according to Cointrendz data. The three most-mentioned coins were Elrond, Bitcoin, and Ethereum.<\/li>\n<p>&#013;<\/p>\n<li class=\"core-block\">Coinglass data indicated that $25.29 million worth of ETC was liquidated over 24 hours as the price of the coin spiked.<\/li>\n<p>&#013;<\/p>\n<li class=\"core-block\">The relative strength index (RSI) for ETC stood at 64.490 at the time of writing, according to TradingView. An asset is said to be overbought if the RSI is more than 70 and oversold if it is less than 30.<\/li>\n<p>&#013;\n<\/ul>\n<h3 class=\"core-block\">Hashrate Touches All-Time High<\/h3>\n<p class=\"core-block\">The hashrate or the measure of computing power on a coin\u2019s network was 46.42 terahashes per second (TH\/s) at the time of writing, according to 2miners.com.<\/p>\n<p class=\"core-block\">On Jan.\u00a01 the hashrate was 23.74 TH\/s\u00a0\u2014 this implies it has risen 95.53% since the year began. In recent days, the hashrate has touched an all-time high.<\/p>\n<p><em class=\"core-block\">Ethereum Classic Hashrate \u2014 Courtesy 2Miners.com<\/em><\/p>\n<p class=\"core-block\">Notably, the increase in the hashrate comes ahead of <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/money\/what-is-the-ethereum-merge\" class=\"core-block\" rel=\"noopener\">\u201cThe Merge\u201d<\/a> or the shift of Ethereum from a proof-of-work network to a proof-of-stake mechanism. JPMorgan recently said it expected ETC miners to be the <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/22\/08\/28488193\/jpmorgan-ethereum-classic-etc-miners-to-benefit-most-from-the-merge\" class=\"core-block\" rel=\"noopener\">main beneficiaries<\/a> of this transition as it will force ETH miners to seek alternate forms of income streams.<\/p>\n<h3 class=\"core-block\">Cheaper Ethereum Play<\/h3>\n<p class=\"core-block\">Ethereum <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/22\/09\/28750304\/ethereum-gains-strength-compared-to-bitcoin-dogecoin-analyst-warns-apex-coin-risk-appetite\" class=\"core-block\" rel=\"noopener\">led gains<\/a> among major cryptos on Monday evening as the market braced for a fresh trading week. The buzz around the upcoming Merge has been pushing the coin\u2019s price higher. In the past, ETC has risen higher in conjunction with ETH as it is seen as a <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/21\/05\/21006525\/as-dogecoin-rally-mutes-cheaper-ethereum-bitcoin-look-alikes-strike-massive-gains\" class=\"core-block\" rel=\"noopener\">cheaper<\/a> Ethereum play by some. Miners of the second-largest crypto made <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/22\/09\/28744113\/ethereum-miners-made-756m-revenue-in-last-month-before-merge\" class=\"core-block\" rel=\"noopener\">$756 million in revenue<\/a> in the last month before the proof-of-stake transition, according to on-chain data from <a target=\"_blank\" href=\"https:\/\/www.theblock.co\/data\/on-chain-metrics\/ethereum\" class=\"core-block\" rel=\"noopener\">The Block<\/a>.<\/p>\n<h3 class=\"core-block\">ETC On The Web<\/h3>\n<p class=\"core-block\">The spike in ETC\u2019s price led to the proliferation of memes on Twitter among the coin\u2019s following.<\/p>\n<blockquote class=\"twitter-tweet\"><p>&#013;<\/p>\n<p class=\"core-block\">Ethereum classic <a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" class=\"core-block\" rel=\"noopener\">$ETC<\/a> is the real Ethereum. Stay away from forks and imitations. <a target=\"_blank\" href=\"https:\/\/t.co\/0uCJM4ghBL\" class=\"core-block\" rel=\"noopener\">pic.twitter.com\/0uCJM4ghBL<\/a><\/p>\n<p>&#013;<br \/>\n\u2014 Kathy\u00a0 $ETC (@BlueHeartKat) <a target=\"_blank\" href=\"https:\/\/twitter.com\/BlueHeartKat\/status\/1565679520526798849?ref_src=twsrc%5Etfw\" class=\"core-block\" rel=\"noopener\">September 2, 2022<\/a><\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\"><p>&#013;<\/p>\n<p class=\"core-block\"><a target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" class=\"core-block\" rel=\"noopener\">$ETC<\/a> today. <a target=\"_blank\" href=\"https:\/\/t.co\/ktP7XCYldq\" class=\"core-block\" rel=\"noopener\">pic.twitter.com\/ktP7XCYldq<\/a><\/p>\n<p>&#013;<br \/>\n\u2014 ETCPOW (@ETCPOW) <a target=\"_blank\" href=\"https:\/\/twitter.com\/ETCPOW\/status\/1566869823908417540?ref_src=twsrc%5Etfw\" class=\"core-block\" rel=\"noopener\">September 5, 2022<\/a><\/p><\/blockquote>\n<p class=\"core-block\"><em class=\"core-block\">Read Next: <\/em><a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/22\/09\/28742484\/ethereums-vitalik-buterin-crypto-could-replace-gold-and-be-the-linux-of-finance-by-2040\" class=\"core-block\" rel=\"noopener\"><em class=\"core-block\">Ethereum&#8217;s Vitalik Buterin: Crypto Could Replace Gold And Be The &#8216;Linux Of Finance&#8217; By 2040<\/em><\/a><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.benzinga.com\/news\/22\/09\/28750864\/ethereum-classic-etc-shoots-26-to-emerge-as-days-top-gainer-heres-what-you-need-to-know\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Classic ETC\/USD soared over 26% to $40.65 over 24 hours leading up to early Tuesday morning. &#013; Ethereum Classic (ETC) Price Performance &#013; &#013; &#013; Time-frame &#013; % Change (+\/-) &#013; &#013; &#013; &#013; &#013; 24-hour &#013; 26.2% &#013; &#013; &#013; 24-hour against Bitcoin BTC\/USD &#013; 23.8% &#013; &#013; &#013; 24-hour against Ethereum ETH\/USD [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":28211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[1386,50,682,355,85,2827,158,3456,164,3469,114],"class_list":["post-28210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-ahead","tag-bitcoin","tag-classic","tag-days","tag-dogecoin","tag-emerge","tag-ethereum","tag-gainer","tag-heres","tag-shoots","tag-top"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/ethereum_classic.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28210"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28210\/revisions"}],"predecessor-version":[{"id":28212,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28210\/revisions\/28212"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/28211"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28210"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}