Cryptocurrency Ethereum Classic rose by 14% per day

Ethereum’s hard fork, Ethereum Classic, grew by 14% per day after crypto miner Antpool announced plans to invest $ 10 million in ETC.

According to Antpool CEO Leon Lv at the World Digital Mining Summit, the company supports Ethereum Classic and plans to launch PoW projects in cooperation with ETC. In addition, the Antpool CEO announced a $ 10 million investment in Ethereum Classic. At the time of writing, ETC is trading at $ 27.13, up 14.06% from 24 hours ago.

Recently, Ethereum co-founder Vitalik Buterin recommended that investors who do not believe in the success of the Proof-of-Stake consensus mechanism should invest in Ethereum Classic. Buterin said that he believes that Ethereum’s transition to the green blockchain is important for the project’s development. However, for those skeptical of PoS, Buterin advised investing in ETC.

In the near future, Ethereum developers will begin the final phase of the blockchain’s transition from the Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake (PoS). Developer Tim Bako named September 19 as the day when the merger could take place. The proposed date did not meet with objections from other developers. The transition of Ethereum to a PoS network is expected to reduce energy consumption by 99%.