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#Ethereum Classic Hashrate Slides 46% Since The Merge, PoW #ETH Forks Gather Double-Digit Gains

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#Ethereum Classic Hashrate Slides 46% Since The Merge, PoW #ETH Forks Gather Double-Digit Gains

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.

#Ethereum Classic Hashrate Slides 46% Since The Merge, PoW #ETH Forks Gather Double-Digit Gains

Ethereum Classic (ETC) hashrate on Sunday, September 25, 2022.

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. On that day, ten days ago, the new ETHW network had not yet launched but when it did, ETHW gathered 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.

ETHW, on the other hand, jumped 42% higher in the last seven days against the U.S. dollar. The other Ethereum-based PoW fork called ethereum fair (ETHF) has increased 45.7% against the USD this week. Moreover, the ETHF project team members recently changed the token’s 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.


Source: ethereum.today

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