Ethereum Classic (ETC) has so far performed on the expected lines as The Ethereum Merge approaches. With the miners considering a shift to Ethereum Classic, the cryptocurrency looks set to benefit. However, concerns of a potential drop in Ethereum (ETH) price could impact ETC price momentum. Whether ETH would gain or lose around The Merge remains to be seen. On the other side, supporters of the proof of work mechanism could bolster Ethereum Classic’s chances going forward.
When Could The Merge Price In For Ethereum Classic
A section of the trader community anticipates a jump in ETH price around The Merge event. However, it is not certain as to whether the top two cryptocurrency would dip or rise around September 15. On the other side, Ethereum Classic enthusiasts anticipate a price rise thanks to the Merge. In fact, hope is around that ETC could multiply by three times the current value.
As of writing, ETC stands at $38.77, up 6.81% in the last 24 hours, according to price tracking platform CoinMarketCap. Over the last seven days, ETC price rose by around 15%, up from the range of $33. In this context, it is anticipated that the cryptocurrency could reach as high as $70. After The Merge, the possibility of ETC reaching $100 level is not ruled out, as per Crypto Revelation, an influencer Twitter handle.
“Ethereum Classic continues to show bullish signals when it breaks the $41 – $45 range it will be a straight shot to $70 in my opinion. I won’t even rule out a run up to $100+ leading up to or post Merge.”
Recently, blockchain explorer and mining pool BTC.com extended support for Ethereum Classic (ETC). It launched the mining pool BTC.com ETC Pool, with zero-fee mining for a period of three months. On the other side, Ethereum (ETH) price just breached the $1,700 level on Friday. Earlier in the week, ETH largely fluctuated around $1,600. As of writing, ETH price stands at $1,710.80, up 5.19% in the last 24 hours.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.