EthereumClassic [ETC] achieves strong bounce back, thanks to hash rate stimulation
The Ethereum Classic hash rate declined for most of December and pivoted towards the end. It may not have achieved a major recovery, but the minor upside does demonstrate a shift in miner activity. This could be because of higher miner profitability, which would indicate that there is a significant surge in transactions.
The idea that ETC transactions have increased in the last few days is supported by a surge in volume. This has been the case in the last two days, during which Ethereum Classic’s volume soared to a new monthly high.This strong volume surge resulted in a sizable uptick in, which traded at $18.63 at the time of writing. In contrast, it traded as low as $15.83 during the 4 January trading session.
There are other observations that suggest a higher chance that the bears will regain control. For example, the weighted sentiment indicates that many analysts are still leaning toward the
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