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 2 new PoW Ethereum forks jump higher in USD price
After Ethereum’s transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), the lion’s share of Ethereum’s hashrate migrated to the Ethereum Classic (ETC) network. Data from 2miners.com shows that the hash rate of ETC reached 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 the total hash rate of ETC is 164.75 TH/s, which is 46.16% lower than the all-time high recorded on September 15th. That day, ten days ago, the new ETHW network had not yet launched, but when it did, ETHW collected 79.42 TH/s in computational power.
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 lost 26.7% against the U.S. dollar during the last two weeks and roughly 16.5% in seven days.
On the other hand, ETHW is up by 42% against the US Dollar over the past seven days. Another Ethereum-based PoW fork called Ethereum Fair (ETHF) is up 45.7% against the USD this week. In addition, recently a member of the ETHF project team Changed Token ticker from ETF to ETHF.
Last week, data indicated that ETHF had roughly 8 TH/s of hashpower dedicated to the chain. Today, however, ETHF’s web portal state.etherfair.org is currently down right now and the current ETHF hashrate is unknown. Both ETH-based PoW coins have been added to a number of exchanges since they launched ten days ago.
