Because the cryptocurrency market sustains its rally after reclaiming (and nicely surpassing) the $1 trillion market capitalization mark, the digital property domineering the 24-hour trending listing proceed to alter locations, with Ethereum Classic (ETC) overthrowing the previous leaders together with Ethereum (ETH), Shiba Inu ((*24*)), and Terra (LUNA).
In step with this, the more and more common Ethereum Classic token has continued to register massive curiosity, recording dramatic positive factors over the earlier 24 hours at 26.19%, in response to information retrieved on July 29 from CoinMarketCap.
Optimism (OP), a layer 2 chain on high of Ethereum, ranks second with positive factors of 51.07% in the final 24 hours. The inexperienced token Grove (GVR) is in third place with 8.27%, adopted by Solana (SOL) with 9.05%, while Terra (LUNA) now occupies the fifth place on the listing, advancing 10.53% over the previous 24 hours.
Ethereum Classic rallying because the Merge approaches
Certainly, Ethereum Classic’s advance in the previous 24 hours aligns with the decentralized finance (DeFi) asset’s latest bullish positive factors forward of the Merge improve that may formally mark the transition of the Ethereum blockchain from the energy-intensive Proof-of-Work (PoW) mechanism to Proof-of-Stake (PoS).
Notably, because the improve looms, crypto miners are more and more extra conscious that the Ethereum Classic chain will stay a PoW community, with Ethereum creator Vitalik Buterin inviting individuals to modify to the ETC chain if they like such networks, referring to it as “a totally fine chain.”
On the identical time, Leon Lv, the CEO of AntPool – the mining pool affiliated with main cryptocurrency mining hardware big Bitmain – introduced that his group had invested $10 million towards the Ethereum Classic ecosystem and would proceed financially supporting it.
He made these bulletins at Bitmain’s World Digital Summit (WDMS) in Miami, the place the producer additionally declared that the patrons of all of its Antminer fashions would have the ability to pay for them utilizing ETC after it launched its newest Ethereum mining mannequin, the Antminer E9, in early July.
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