Hashrate Shocks Ethereum Classic Investors

ETC (Ethereum Classic) hashrate hit an ATH, 45.98 H/s, according to Messari. The hashrate record was set six years after the first Ethereum Clas

sic block (at 1,920,000 block height).

The alt traded near $40.44 at press time, up more than 10% in a day. Investors can expect an ETC drop in the coming hours as a result of weak spot.

ETC merges

Ethereum Classic’s trading and price activity rose recently. September 6 trading volume increased 592%. The metric rose to $2.8 billion (Coinmarketcap data). Santiment said Ethereum Series’s volume peaked a month ago.

Daily chart shows Ethereum Classic – the cost rising. Key indicators show alternative token uptrends. This newspaper’s RSI was 63. ETC’s MFI is 67.

Chaikin Money Flow is flat, with the dynamic line at -0.03. Preserving buying pressure can cause the CMF to rise.

Daily traders are vigorously racking up the 17th leading digital token. 4hr Relative Strength Indicator was near 78. Money Flow Index was 93, way overvalued. ETC’s Chaikin Money Flow remained positive at 0.26.

ON-CHAIN ANALYSIS

Ethereum Classic’s development has slowed over the past month, with the Merge scheduled for September 10-20. ETC development activity dropped 14% in the last 30 days, to 2.78, according to Santiment. The social metric hasn’t gained traction in the past month.

Ethereum Classic’s social dominance dropped 12% in 30 days, as of press time. During that time, its social volume fell 66%. 30d moving average weighted sentiment shows investors are skeptical about Ethereum Classic’s price, -0.29.