From today (September 5th), there are only 10 days left until The Merge event will take place. If successful, Ethereum will switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Since then, miners will almost lose their position and value in Ethereum after The Merge. So, they will go looking for other profitable mining opportunities. Among those other mining options, miners are calculating that ETC (Ethereum Classic) is and will be the most optimal mining choice in the near future. Let's find out the investment potential of $ETC with Holdstation in this article!
Ethereum Classic (ETC) Overview
Ethereum Classic is a Blockchain platform developed and created based on Ethereum's Blockchain technology, allowing anyone to build and use decentralized applications (Dapps). ETC is a forked chain from the original Ethereum and runs parallel to the current Ethereum. While ETH pursues processing speed and is moving towards (PoS), Ethereum Classic is the original Ethereum chain that retains the same system as Bitcoin in terms of a blockchain that promotes security, decentralization, autonomy and continues on the road (PoW).
The reason $ETC will issue
The reason $ETC will pump, if The Merge succeeds
The Ethereum Classic Hashrate, which represents ETC mining difficulty, skyrocketed in the second half of August, demonstrating that miners are shifting from mining $ETH to mining $ETC. With $ETC being a hard fork of $ETH. So basically $ETC has a lot in common with $ETH. Like Bitcoin, $ETC has a fixed and deflationary supply. This contributes significantly to the growth of $ETC in the future.
Currently 65% of the total $ETC supply has been mined. The amount of $ETC left waiting to be mined is getting less and less. Combined with $ETH moving to PoS, $ETC will attract more and more miners to make $ETC's network more and more secure.
Orientation for investment reference
Currently, whether The Merge is successful or not has to wait until September 15-16 to be clear. However, in the long term, $ETC does indeed have a lot of growth potential. This will be the reference investment orientation for the long-term profitable style. Investors should consider and manage their capital in a reasonable way.
$ETC is currently having a correction of more than 30% since its peak in mid-August. The above correction is reasonable after $ETC had a strong breakout in July. At the time of writing. $ETC is trading at $31.88. Investors may consider disbursing about 5-10% of capital at this price range then will DCA more if the price of $ETC falls to $30. The target of $ETC in the next 2-3 months will be to return to the old top of $45. However, any investment decision will be risky, investors can research to set a stop loss at $28 to preserve their capital. The above investment references are for long-term holding trends, not for margin or future investment. Investors should always manage capital smartly and carefully!
