Related Reading | Ethereum Whales Purchase Over $6 Million Worth Of APE Tokens
Set to combined Ethereum’s Proof-of-Work execution layer with its Proof-of-Stake consensus layer. The Merge will finalize the launch of this network’s PoS chain.The Merge will:Miners will no longer be needed with the deployment of Ethereum 2.0. All of this chain hash power will migrate to ETC.Drop Ethereum's energy usage by ~99.95%
The Merge will not lower transaction fees. L2s and EIP-4844 will take care of that. — pseudo (on farcaster) 📜🇺🇦 (@pseudotheos)
Drop Ethereum's issuance from ~5.4M ETH/yr to ~0.5M ETH/yr
Provide ~5-15% APR on staked ETH (as TX fees will go to stakers)
Can Ethereum Classic Sustain Momentum?
In shorter timeframes, investors shown with the green line, above in the chart, seem to have slowed down on their purchase. Thus, ETC’s price could see some downside price action in the short term. In the long term, the sustainability of the rally could depend on these investors resuming ETC purchases. The market has seen a boom in the price of “dino coins” or long data altcoins.Related Reading | Ethereum Classic Displayed Double-Digit Gains; What’s Next!
Bitcoin Cash (BCH) records a 14% profit in the last 24 hours and a 30% profit in the past week. Our Editorial Director Tony Spilotro said the following on ETC, BCH, and other dino coins’ potential for a fresh leg up:The altcoins that no one is paying any attention to anymore, are going to shine soon. Even Bitcoin Cash is up like 10% today. LTC, Dash, BCH, XLM, EOS, etc. I don’t necessarily advocate buying them, but I do expect this sector of paleo-altcoins to rally strong soon.