Ethereum Classic Hashrate Slides 46% Since The Merge, PoW ETH Forks Gather Double-Digit Gains

Ethereum Classic Hashrate Slides 46% Since The Merge, PoW ETH Forks Gather Double-Digit Gains

The day of The Merge, Ethereum Classic’s hashrate soared to new highs tapping 306 terahash per second (TH/s) ten days ago on September 15. Since then, however, Ethereum Classic’s computational power has dropped 46.16% lower from the high to today’s 164.75 TH/s. Furthermore, ethereum classic’s market valuation has dropped by two positions and lost 26.7% against the U.S. dollar during the last two weeks. Ethereum Classic’s Hashrate and Price Sinks, While the 2 New PoW Ethereum Forks Jump Higher in USD Value

After Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS) the lion’s share of Ethereum’s hashrate moved over to the Ethereum Classic (ETC) network. Data from 2miners.com shows ETC’s hashrate jumped to an all-time high on September 15, 2022, the day of The Merge.

That day, ETC’s computational power reached 306 TH/s after climbing 482.85% higher than the 52.5 TH/s recorded on September 12. Six days beforehand, ETC’s price tapped a high of $41.80 per unit on September 6. Both ETC’s USD value and computational power are down today after reaching record highs just prior to The Merge. Ethereum Classic (ETC) hashrate on Sunday, September 25, 2022.

Today, data indicates that ETC’s overall hashrate is 164.75 TH/s, which is 46.16% lower than the all-time high recorded on September 15. On that day, ten days ago, the new ETHW network had not yet launched but when it did, ETHW gathered 79.42 TH/s in computational power.

ETHW’s hashpower has dropped, however, down to 45.97 TH/s according to metrics recorded by 2miners.com. While it’s not as much as ETC’s hashpower loss, ETHW shed 42.11% of its computational power since September 16. ETC lost 26.7% against the U.S. dollar during the last two weeks and roughly 16.5% in seven days.

ETHW, on the other hand, jumped 42% higher in the last seven days against the U.S. dollar. The other Ethereum-based PoW fork called ethereum fair (ETHF) has increased 45.7% against the USD this week. Moreover, the ETHF project team members recently changed the token’s ticker from ETF to ETHF.

Last week, data indicated that ETHF had roughly 8 TH/s of hashpower dedicated to the chain. Today, however, ETHF’s web portal state.etherfair.org is currently down right now and the current ETHF hashrate is unknown. Both ETH-based PoW coins have been added to a number of exchanges since they launched ten days ago. Tags in this story computational power, Crypto markets, ETC, ETC hashrate, ETC price, Ethereum, Ethereum (ETH), Ethereum Classic, ethereumfair, Ethereumpow, ETHF, ETHW, Forks, Hashrate, hashrate drop, Market Prices, Market Values, Miners, PoS, PoW, Prices, Sept. 25, Terahash, TH/s, The Merge

What do you think about Ethereum Classic’s hashrate losing more than 46% since The Merge? What do you think about the other two Ethereum-based PoW tokens? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Jihan Wu-Backed Crypto Miner Bitdeer Acquires "Singapore’s Fort Knox" for $28.4 Million NEWS | 1 hour ago Report: Leaked Audio Featuring Celsius Execs Uncovers Plans to Create an IOU Cryptocurrency NEWS | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleNicolas Maduro Tempts West With an Abundance of Oil and Gas, Venezuelan President Wants Sanctions Lifted Next articleJihan Wu-Backed Crypto Miner Bitdeer Acquires ‘Singapore’s Fort Knox’ for $28.4 Million Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItOman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)"s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto