The Ethereum Classic (ETC) hash rate has entered a never-before-seen cycle of increase from the first mining block 6 years ago, reaching an all-time high (ATH).
Average last week 41 TH/s Ethereum Classic mining, which watches hashrate levels (the level of difficulty determined for mining), continues this week with an increase. 49.52 TH/sHashrate up to to an all-time high(ATH) reached. Ethereum successfully completed today Bellatrix After the update, trust in The Merge is increasing and the hashrate level continues to rise without slowing down.
Ethereum network Proof of Stake (PoS) on September 15 While it is expected to switch to the Ethereum Classic system, users who mine on Ethereum continue to turn their devices into the Ethereum Classic network at great speed. held in July At the Ethereum conference As stated by Vitalik Buterin, Ethereum Classic is seen as the best alternative at this point for individuals and institutions investing in large mining devices.
Among the other networks in question, where miners can transact and operate their devices as an alternative to Ethereum Classic. Ravencoin (RVN), Ergo (ERGO) and Beam (BEAM) exists. However, as we rapidly approach The Merge update on September 15, no hashrate increase has been observed on these alternative blockchains similar to that of Ethereum Classic. This shows that the first choice of miners is Ethereum Classic and the demand will likely continue to increase in this direction.
According to Coinecko data, at the time of writing the article Ethereum Classic price, which is in the 18th place in the crypto market on a daily basis 20% uptrend with $40.28 traded at the level.