As The Ethereum Merge draws near, Ethereum Classic (ETC) has been behaving as anticipated. The cryptocurrency stands to benefit from the miners’ possible switch to Ethereum Classic. But the price momentum of ETC could be impacted by worries about the collapse in ETH. It’s unclear if ETH would benefit or suffer from events surrounding The Merge. Ethereum Classic could benefit from the backing of those who believe in the proof of work process.
When Might Ethereum Classic’s Merge Cost Be Estimated?
As The Merge approaches, some investors expect the price of ETH to surge. But whether or not the top two cryptocurrencies would fall or climb around September 15 is still up in the air. In contrast, supporters of Ethereum Classic believe the price will increase after the Merge. Some even believe that the current value of ETC might increase by a factor of three.
According to the price tracking site CoinMarketCap, the current Ether Classic price is $38.77, representing a growth of 6.81% over the last 24 hours. The price of ETC has increased by almost 15% during the past week, from $33 to roughly $35. As such, a $70 price point for the cryptocurrency is not out of the question. An influential Twitter account called Crypto Revelation predicts that after The Merge, Ethereum Classic (ETC) could get to the $100 mark.
Official Statement on Ethereum Classic Posted on the Web:
If Ethereum Classic keeps sending out optimistic signs and eventually breaks out of the $41–$45 zone, I expect it to soar above the $70 mark. Neither the period before nor immediately after Merge makes me rule out a spike to $100+.
BTC.com, a blockchain browser and mining pool, has just started supporting Ethereum Classic (ETC). For the first three months after its inception, mining on BTC.com’s ETC Pool costs nothing. On the other hand, the price of Ethereum (ETH) has just risen above the $1,700 threshold, as of last Friday. Ethereum’s price has been relatively stable around $1,600 this week. The current price of ETH is $1,710.80, an increase of 5.19% in the previous 24 hours.