Ethereum Classic Climbs 124% in 2 Weeks, Hashrate Spikes, KRW Captures 20% of ETC’s Trade Volume – Altcoins Bitcoin News

Roughly six years ago in July 2016, an Ethereum hard fork was used to address the infamous DAO hack. This specific fork saw the chain split into two factions, and a new crypto asset called ethereum classic was introduced to the crypto community. For years now both chains have co-existed using the same proof-of-work (PoW) consensus algorithm, and with The Merge coming up, speculators assume Ethash PoW miners will transition to ethereum classic mining. During the last two weeks, ethereum classic has climbed more than 124% against the U.S. dollar,…

Ethereum options data show pro traders ready to go long into ETH’s Merge

Ether (ETH) is down 11.5% in seven days even after the recent confirmation of the “Ethereum merge” transition to a proof-of-stake (PoS) consensus network in September. During the Ethereum core developers conference call on July 14, developer Tim Beiko proposed Sept. 19 as the tentative target date. The transition out of energy-intensive mining has been delayed for years, and the journey toward scalability using sharding technology — parallel processing capability — is yet to be scheduled. Still, some analysts expect the network’s monetary policy to boost the value of Ether.…