Cryptocurrency Ethereum Classic grew by 25% in just one day

The Ethereum Classic hard fork has risen in price by 25.99% in 24 hours — experts attribute the surge in investor activity to the upcoming update of The Merge.

At the time of writing, ETC is trading at $ 40.39, and the total supply of cryptocurrency on the market is $ 5.52 billion. According to experts, Ethereum Classic will be in demand among users for the entire time remaining before ETH switches to PoS.

Obviously, investors who do not believe in the success of the Proof-of-Stake consensus mechanism hope to protect their savings by purchasing ETC. Back in late July, Ethereum co-founder Vitalik Buterin recommended that skeptical users invest in Ethereum Classic, which was launched in 2016 as a hard fork of Ethereum. ETC is a fork of the classic Ethereum that will remain on PoW, and therefore will allow miners to continue to use their graphics cards and make a profit. This is the reason why it is so attractive for miners to migrate after ETH’s transition to the green blockchain.

As a reminder, today it became known that the Ethereum network will host the Bellatrix hard fork, which will be the last step of Ethereum developers before the largest blockchain update. The Bellatrix hardfork is the last opportunity for users to make sure that their PoS validators are configured correctly before the main network migration.