Ethereum Classic’s (ETC) price surged more than 9% in the last 24 hours, with trading volume jumping 40%. The rally is fueled by instability in the Ethereum Beacon Chain that underwent block reorganization, questioning the stability of transitioning to proof-of-stake (PoS). While the Ethereum (ETH) price slips below $1800, the proof-of-work (PoW) ETC price continues to soar higher.
Ethereum Classic (ETC) Defies Market Wide Correction
The Ethereum Classic (ETC) price has risen more than 15% in the last week from the $20 level, making a high of $25.54. Despite a slight pullback, the price is trading strongly near the $22 level, fueled by instability in the Ethereum chain and the possibility of miners moving into the proof-of-work (PoW) chain. Moreover, it’s key to note that ETC’s social dominance has also been on the rise.
Moreover, the ETC price breaking above the downward channel on March 24 brought a rally to Ethereum Classic. The price was sliding since early April, but a rever
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