Ethereum Classic continues to be the sole beneficiary<\/a> of Ethereum’s ongoing transition from a proof-of-work network to proof-of-stake. The speculation that ETC could absorb some of Ethereum’s proof-of-work ecosystem has resulted in numerous of ETC’s metrics rising significantly in July and after the Ethereum developer team confirmed that the Merge would occur in mid-September<\/a>.<\/p>\n According to a report<\/a> by PANews, Ethereum Classic’s hashrate hit 26.773 TH\/s on July 28th, signifying an 8.10% increment in 24 hours and a 23.90% increment from the beginning of July. However, Ethereum Classic’s current hashrate is still below the average level witnessed in April of this year.<\/p>\n Additionally, the report pointed out that Ethereum Classic’s daily transactions increased from 59,900 at the beginning of July to 97,400 on July 28th. This marked a 62.60% increment in the stated daily transactions.<\/p>\n At the same time, the number of ETC active addresses reached its highest value of 66,200 on July 28th, marking a 70.62% increment from the beginning of the month.<\/p>\n The report went on to highlight that the value of ETC<\/a> has also benefited from the ongoing speculation that Ethereum Classic could absorb some of Ethereum’s ecosystem post-merge. In the last week alone, ETC has increased by 64.7% to hit its current levels around $42.<\/p>\n Further checking the daily ETC\/USDT chart below reveals that the digital asset has gained by roughly 219% since the beginning of the month when it was valued at $14.20.<\/p>\nEthereum Classic Hashrate Increased by 23.90% in July.<\/h2>\n
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<\/a>Ethereum Classic Daily Transactions increased by 62% in July.<\/h2>\n
Ethereum Classic’s Value has Increased by 64.7% in 7 days.<\/h2>\n
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