Ether prices should increase, but not just because of The Merge, the eagerly anticipated update to the Ethereum (ETH) network. In fact, some analysts believe that after its introduction, the value of ETC, the native coin of the Ethereum Classic network, would likewise soar.
The Merge already powers Ethereum Classic
The time for switching from Ethereum to The Merge is almost near. The Ethereum Classic network is particularly vulnerable to some of the disruptions this historic event could bring about on the eve of it.
In particular, the price of ETC has increased by about 85% over the last seven days to $25.71 as of this writing. Without a doubt, the present actions on its sibling blockchain, Ethereum, have an impact on the resurgence of investor interest.
In fact, ETH miners, who have substantial hardware infrastructure, will want to leverage their resources, which will become obsolete following the switch to Proof-of-Stake, which is one of the causes for this increasing momentum ( PoS). All networks that employ the Proof-of-Work (PoS) technique can capitalize on this. It will be more optimized with Ethereum Classic, though, as there won’t be much work to be done before you can start mining.
Expected growth for ETC is 26%
The deployment of The Merge could cause a migration wave, which could lead to an increase in the price of ETC. In fact, it might approach the $32.50 figure. This reflects an increase in value over the current price of 26.41%. On the other hand, there’s a chance that it will briefly decline to $12.50. In either case, it is anticipated that the ETC price would rise to $52.6, which would be this year’s biggest peak. Whether the ETC can keep its momentum going is the question at hand.
Investors are not immune to a significant sell-off, despite the fact that the present ETC trend appears positive in the short term. what causes a severe market slowdown.
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