A 75% pump on ETC might have excited investors, but is it enough for miners to tough out migration?
) price climbed on March 22, ignoring a deadly"death cross" on the weekly chart, as traders raised their bets on its potential to become a haven for miners fleeing the rival Ethereum blockchain.
ETC's price jumped over 15.5% to reach $44 a token for the first time since Dec. 9, 2021. The coin's intraday gains came as a part of a broader rebound move that saw its price rallying more than 75% eight days after bottoming out near $25.Most of ETC's course to the upside saw it tracking general crypto market trends. For instance, the Ethereum Classic token showed an extremely higher correlation with Bitcoin , the leading cryptocurrency by market cap, reaching 0.
A correlation coefficient reading of 1 between the two assets show that they move completely in lockstep.But ETC's 75%-plus gains in the last eight days largely outperformed in the same period. That may have to do with speculations about Ethereum Classic's ability to attract miners from its rival, Ethereum.Ethereum Classic, however, failed to attract as many users, leaving the network in the hands of a few miners. This resulted in a
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Surprisingly Simple Mantra Rebel Wilson Uses to Stay Motivated After Her 75-Pound Weight LossRebel Wilson’s Trainer Shares How the Star Stays Motivated After Her 75-Pound Weight Loss
Read more »
Washington County sees 75% spike in tourism revenue: What this means for Greater ZionDue to the spike in 2021, Greater Zion has a $13.5 million budget for 2022.
Read more »
What Is the 75 Hard Challenge and Is It Safe? Experts ExplainPlus, experts share their opinions on the “transformational mental toughness” program.
Read more »
Guest Post by Callisto Network: SOY Finance Has a New Address: XT Exchange | CoinMarketCapCoinMarketCap's Pick – Article of the Day SOY Finance Has a New Address: XT Exchange CallistoSupport $CLO XT SoyFinance CoinMarketCap CrypTown
Read more »
Over 2 Million ETH (Worth $6 Billion) Burned Since EIP-1559 LaunchEthereum network has destroyed over 2 million ETH - nearly $6 billion - were removed from circulation forever.
Read more »
BTC, ETH and XRP Price Analysis for March 22Can ETH or XRP keep up with the rise of BTC? XrpYoyo ANT159694954 nuonrg WillyWonkaXRP RippleXrpie crypto Ethereum ETH $ETH cryptoexchange VitalikButerin
Read more »