The Hashrates and the price trend of Ethereum Classic fall after the transition from Ethereum Pow to POS - Altcoins

Shortly before the Ethereum network passed from a proof-of-work (Pow) blockchain to Proof-of-Stake (POS), the Hashrate from Ethereum Classic recorded a significant increase. Three days after The Merge, Ethereum Classic had a Hashrate of 214.37 Terahash per second (TH/S). Since then, however, the grate of the network has decreased considerably, since 44.33 % of them have been lost in the last 134 days.

Ethereum Classic loses gloss

Ethereum classic (etc) The focus of attention was shortly before Ethereum ( eth ) great transition, but has now lost its pow dance partner. Since the transition from Ethereum from Proof-of-Work (Pow) to Proof-of-Stake (POS), the Ethereum Classic ( etc )- has recorded an increase in the Hashrate. On January 17, 2022, etc would have 23.87 Terahash per second (Th/s) hashate. On January 30, 2023, over a year later, Ethereum Classic has a total of 119.32 The Hashrate, an increase of 399 % in 12 months. But 134 days ago etc The computing power of is more than 44 % higher.

etc both the price and the hashate from Ethereum listed on September 15, 2022, the day of the etheric from Ethereum from proof-of (Pow) to proof-of-stake (POS), a significant increase. On this day, Ethereum classic (etc) was at around $ 35.81 per estimated Coin after the day before reaching $ 39 per unit. The price of Ethereum Classic was on fire at the time, but has since cooled down like a wet campfire. Stand 30.01.2023, etc acts with 22.98 $ per unit, a decline of 35.82 % compared to the transition. Archiv.org records show that on September 18, 2022 214.37 Terahash (Th/s) dedicated to the Ethereum Classic network.

At the moment, F2Pool is the largest mining pool from Ethereum Classic with 26.91 Terahash per second (TH/S) of a total of 119.32 Th/s, which corresponds to 22.55 % of the grate of the network. Ethermine.org follows with 16.48 Th/S, which makes up about 13.81 % etc The hashate. The other mining pools in the top ten are 2miners.com, ezil.me, dogpool.one, hiveon.net, poolin, richpool.pro, pool.btc.com and antipool. These ten etc mining pools have a total hashates of about 95.11 Th/s.

In addition, Ethereum Classic had a blocked total value (TVL) of around $ 873,161 in decentralized financial protocols (Defi) on September 15, 2022. To date, the TVL in Defi protocols from Ethereum Classic has dropped by $ 56.84 % to $ 376,803. The decentralized stock market (Dex) platform Hebeswap is currently dominated with 58.74 % of the TVL, which corresponds to $ 221,335. However, Hebeswap was also the index with the worst 7-day TV decline of -6.87 % last week.

What do you see for the future of Ethereum Classic? Let us know your opinion on this topic in the comments below.

Jamie Redman

Jamie Redman is the news manager at Bitcoin.com News and a Journalist for Financial Technology living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com news about the disruptive protocols that arise today.

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