Shares of several popular altcoins, including Ethereum Classic ETC/USD, are trading higher again Thursday in sympathy with apex cryptocurrency Bitcoin BTC/USD and second-largest market cap crypto Ethereum ETH/USD.
Crypto is likely trading higher this week in tandem with major U.S. indices, which are higher after the Federal Reserve raised its target fed funds rate by 0.75% on Wednesday to a new range of between 2.25% and 2.5%, its second 0.75% rate hike in two months... Read More
Traders and investors are also watching the broader crypto space closely after Ethereum developers floated a tentative date for a Merge – an event that marks ETH’s transition to a Proof-of-Stake network. When Ethereum makes the switch, Proof-of-Work (PoW) mining for Ethereum will effectively be redundant and the network’s miners will be forced to migrate to other PoW chains.
Earlier this week, Ethereum creator Vitalik Buterin suggested that those who preferred PoW chains should use Ethereum Classic, dubbing it “a totally fine chain.”
“It’s a very welcoming community and I think they’ll definitely welcome Proof-of-Work fans,” said Buterin... Read More
According to data from Benzinga Pro, Ethereum Classic is trading higher by 24.4% to $40.96 Thursday evening. Ethereum Classic is higher by 165.37% over the trailing month amid an ongoing rebound in the broader cryptocurrency market.
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