The last month has been a wild ride for the Ethereum Classic community. First, lets take a look at the price action and try to understand why this might be happening.
ETC/USD pair has skyrocketed up +150% from $14 to over $44 in the last month alone.
ETC/ETH pair is following suit. Last month shown below. Its important to note that ETH, has been preforming extremely well these past 30 days.
While we can only speculate on the price action – here is what happened.
AntPool announces $10,000,000+ investment in ETC
AntPool, the mining pool affiliated with mining rig giant Bitmain, has invested $10 million to support the Ethereum Classic ecosystem and plans to continue investing more, the pool’s CEO, Lv Lei, said at Bitmain’s World Digital Mining Summit on Tuesday.https://www.coindesk.com/business/2022/07/26/antpool-supports-ethereum-classic-ecosystem-with-10m-investment/
On July 26th AntPool announced they are investing $10 million into Ethereum Classic. The funds are held in a multi-sig wallet with the ETC Cooperative.
ETHs move to POS
The Merge deadline is fast approaching and miners are starting to move their rigs to Ethereum Classic. View https://wenmerge.com to find more.