• The price of Ethereum Classic (ETC) has risen by 79 percent as PoW Ethereum miners begin to abandon the project

  • Ethereum Classic (ETC) has been one of the best-performing cryptos in the recent week. Experts believe that a large migration of Ethereum Proof of Work miners to ETC is to blame for much of this increase. Here’s what we know so far:

    • Over the previous seven days, the price of Ethereum Classic (ETC) has increased by about 80%.
    • ETC is attracting a large number of Ethereum Proof of Stake miners.
    • This comes as the Vitalik led chain prepares to launch Ethereum 2.0 Proof of Stake.
    What impact will Ethereum 2.0 have on ETC?

    The sharp increase in ETC recorded in the previous week is likely to continue. Indeed, many experts believe that the sooner Ethereum 2.0 is implemented, the higher ETC will rise. Ethereum is anticipated to fully transition to a Proof of Stake system by the end of 2022, according to current projections. Crypto investors will have a lot of opportunities to profit as a result of this.

    “We expect staking to become a huge business for the sector as a whole,” says David Lawant, director of research at Bitwise Asset Management. The firm’s assets total more than $1.3 billion, including a cryptocurrency holdings. There is also speculation that tokenomics on Ethereum and other networks will become the dominant crypto investing strategy.

    “With blockchains in the driver’s seat, tokenomics will play a big part of the world’s future trade,” says Adrian Pollard of HollaEx.

    However, the move to ETC could put Ethereum under strain. ETH has just risen beyond $3000 and has remained there for a few days. The transition to Ethereum 2.0 is likely to be unsettling at first, but the long-term worth of ETH remains optimistic.

    Is Ethereum Classic (ETC) a wise investment?

    The transition to Ethereum 2.0 will be finished this year, so there is still a long way to go. During this time, we predict ETC to continue to rise. So, at least for the time being, the coin is a good investment. Before the end of the year, we could see huge gains.

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