Ethereum Traditional has been seeing a few of the largest development with the information of the Ethereum Merge. The place different cryptocurrencies have been seeing single-digit beneficial properties, Ethereum Traditional had seen double-digit beneficial properties that pushed its value effectively previous the $40 mark at one level. Now, despite the fact that the market has begun to shed a few of its beneficial properties from the hype across the Ethereum Merge, Ethereum Traditional continues to be seeing vital development.
Ethereum Traditional Hashrate Surges
By the entire pleasure of the mid-August market restoration, Ethereum Traditional had seen large help from the crypto market. As its beneficial properties rose, so did the exercise on the community, and the hashrate shortly hit a brand new all-time excessive in mid-August.
Nevertheless, the beneficial properties had begun to shed, and ETC had misplaced its footing within the $40 territory, now trending simply above $30. Regardless of this, the exercise on the community has not slowed. There has as an alternative been a rise in hashrate, and it has reached a brand-new all-time excessive.
Data from CoinWarz reveals that the hashrate of ETC had touched as excessive as 40.4744 TH/s. That is the best that the hashrate has ever been, and it’s occurring whereas Ethereum continues to stay flat by way of hashrate.
ETC hashrate reaches a brand new all-time excessive | Supply: CoinWarz
ETC’s hashrate is now up greater than 100% within the final two months alone. It had been trending round 18 TH/s for the higher a part of July earlier than hitting a house run with the renewed curiosity from the Ethereum Merge.
ETC Value Holds Regular
Ethereum Traditional’s value has held up properly, given the current market development. After hitting a brand new native excessive of $45, it bounced across the $40 stage earlier than dropping its footing. It lastly discovered help simply above $30 and has maintained this help by the top of August.
ETC is among the few cryptocurrencies that continues to keep up a bullish outlook regardless of the dump. It’s holding up above its year-to-date highs of $29, exhibiting that there’s nonetheless sturdy bullish sentiment for the digital asset.
Demand additionally stays excessive for the cryptocurrency, with any actual resistance mendacity on the $35 vary. Its 20-200 MACD Oscillator factors in the direction of sturdy shopping for stress for Ethereum Traditional. It maintains a robust alternative for beneficial properties with an particularly promising purchase indicator at $32.
Featured picture from Freepik, chart from TradingView.com
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