Decoding Ethereum Classic’s potential to be ‘heir to the throne’ after…

ambcrypto.com:

The focus of the crypto community may now be shifted to the Ethereum [ETH] Merge event as August comes to a close. In the wake of this, a few Proof-of-Work (PoW) cryptocurrencies existing on the Ethereum blockchain have been tipped to profit from the transition.

Top of the list is Ethereum Classic [ETC], which prides itself as the “Sound Money” Ethereum. 

While ETC has lived up to that name recently, it has also added another feather to its cap. The latest being another hashrate achievement.

According to CoinWarz, ETC’s hashrate spiked more than 80% between the late hours of 30 August and 31 August. 

This increase triggered a jump to 40.02 TeraHashes per second (TH/s). While the surge was not as high as its stance on 29 August, it was well above the All-Time High (ATH) it hit before.

However, the hashrate had gone lower at press but still maintained a solid high at 39.82TH/s.

Source: CoinWarz’

Coincidentally, the hashrate was not the only positive take from the ETC ecosystem.

A thorough assessment of the cryptocurrency revealed that the network difficulty followed the hashrate increase.

Despite being low at 562.49, 2Miners.com reported that ETC’s network difficulty had increased to 592.49 as of 31 August.

All of these happened at an average block time of 13.05 seconds. 

Source: 2Miners.com

While verifying transactions may have seemed challenging for ETC, investor concern would be if the hard fork asset can produce greens during and after the Merge.

Although the hashrate soared, the ETC price did the opposite. Considering CoinMarketCap data, ETC was down to $33.03. Its 24-hour volume was below $900 million citing an 11.31% decrease from the previous day.

So has there been a decline in ETC interest or are investors accumulating