See More

Ethereum Classic Hashrate Explodes Past Previous All-Time High

2 mins
Updated by Max Moeller
Join our Trading Community on Telegram
Mining activity on Ethereum Classic’s network has seen a marked uptick. Its hashrate has beaten all expectations and has now broken past its previous all-time high.
Hashrate is one metric to assess the health of a network. The higher the hashrate, the more secure a network becomes. It also becomes more expensive to mine said cryptocurrency.

Ethereum Classic’s Hashrate Breaks Records

Recently, Ethereum Classic (ETC) has seen its hashrate explode past its previous all-time highs. In a sign of growing strength, the ETC network is arguably now more secure than ever before. The development is especially shocking given the fact that ETC was rumored to have suffered a 51% attack just last month. Claims of an attack turned out to be false, but ever since the hashrate has increased significantly. As the official Twitter for Ethereum Classic (ETC) reported recently, its network’s hashrate now stands at all-time high. The previous all-time high for Ethereum Classic’s hashrate occurred in September 2018 during the bearish crypto-winter. Despite dropping off and staying mostly stagnant in 2019, the new year brought in fresh mining activity. The end result has been an explosive January for the ETC network with its hashrate close to doubling in just a month.

One of the Top Gainers of 2020

The uptick in hashrate has corresponded with an equally-impressive price increase. Currently sitting at a price point around $12, it was trading for just $4.50 in the beginning of January. It seems that hashrate and price are increasing parallel to one another for the time being. Ethereum Classic ETC Atlantis Ethereum Classic was also recently added to Binance’s futures markets. This only further added bullish momentum to the smart contract platform. It’s unclear whether the current hashrate and price will cool off before the next leg up. $12 could become resistance-turned-support if ETC is able to maintain these levels.
Top crypto projects in the US | April 2024



In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

Anton Lucian
Raised in the U.S, Lucian graduated with a BA in economic history. An accomplished freelance journalist, he specializes in writing about the cryptocurrency space and the digital '4th industrial revolution' we find ourselves in.