The day of The Merge, Ethereum Classic’s hashrate soared to new highs tapping 306 terahash per second (TH/s) ten days ago on September 15. Since then, however, Ethereum Classic’s computational power has dropped 46.16% lower from the high to today’s 164.75 TH/s. Furthermore, ethereum classic’s market valuation has dropped by two positions and lost 26.7% against the U.S. dollar during the last two weeks.
Ethereum Classic’s Hashrate and Price Sinks, While the 2 New PoW Ethereum Forks Jump Higher in USD Value
After Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS) the lion’s share of Ethereum’s hashrate moved over to the Ethereum Classic (ETC) network. Data from 2miners.com shows ETC’s hashrate jumped to an all-time high on September 15, 2022, the day of The Merge.
That day, ETC’s computational power reached 306 TH/s after climbing 482.85% higher than the 52.5 TH/s recorded on September 12. Six days beforehand, ETC’s price tapped a high of $41.80 per unit on September 6. Both ETC’s USD value and computational power are down today after reaching record highs just prior to The Merge.
Today, data indicates that ETC’s overall hashrate is 164.75 TH/s, which is 46.16% lower than the all-time high recorded on September 15. ETHW had launched a new network ten days earlier, but it was not operational yet. However, ETHW accumulated 79.42 TH/s computational power when it did.
ETHW’s hashpower has dropped, however, down to 45.97 TH/s according to metrics recorded by 2miners.com. While it’s not as much as ETC’s hashpower loss, ETHW shed 42.11% of its computational power since September 16. ETC suffered a loss of 26.7% in the U.S. Dollar over the past two weeks, and 16.5% within seven days.
ETHW, however, has jumped 42% against the U.S. dollars in the past seven days. Another Ethereum-based PoW, ethereum fair or ETHF has gained 45.7% this week against the USD. Moreover the ETHF project members have recently been incorporated. changed the token’s ticker from ETF to ETHF.
Data from last week indicated that ETHF has approximately 8 TH/s in hashpower for the chain. Today, however, ETHF’s web portal state.etherfair.org is currently down right now and the current ETHF hashrate is unknown. Since their launch ten days ago, both ETH-based PoW currencies have been added to a variety of exchanges.
What do you think about Ethereum Classic’s hashrate losing more than 46% since The Merge? How do you feel about two other Ethereum-based PoW tokens Comment below and let us know how you feel about the subject.
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