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Despite ETC hashrate facing 2023 lows, here's why day traders remain bullish

ambcrypto.com

At 106.59TH/s, Ethereum Classic's ETC hashrate has hit its lowest point so far this year, data from 2miners.com revealed. Moreover, the chain's network difficulty at 1.45P also declined to its lowest value since the year began.

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Bitcoin ETC
$ 34.53

Timeline of Ethereum-classic


Ethereum Classic's TVL recovers and here's the key driving factor - AMBCrypto

Ethereum Classic (ETC) just concluded a bullish week but its price action is not the only aspect that achieved a pivot. Its total value locked also registered some upside after previously experiencing outflows.


Biggest Movers: ETC up 12%, as SOL Nears 1-Month High - Bitcoin

Ethereum classic rose by as much as 12% in today's session, as cryptocurrency markets rallied to start the weekend. The global market cap is trading over 3% higher at the time of writing, as investors continue to buy crypto following the recent banking crisis. Solana was also higher in today's session.


Why Ethereum Classic (ETC) Is Up 9% In The Past 24 Hours - Benzinga

Ethereum Classic (CRYPTO: ETC) is trading higher by some 9.49% to $19.56 over the past 24 hours. Shares of several popular altcoins are trading higher amid broader strength in cryptocurrencies.


Why Ethereum Classic And Litecoin Are Diving - Benzinga

Litecoin (CRYPTO: LTC) and Ethereum Classic (CRYPTO: ETC) are both facing selling pressure and trading lower Thursday afternoon. The broader cryptocurrency market is experiencing marked weakness as Silvergate Capital Corp's planned liquidation has weighed on banks with crypto exposure.


Ethereum Classic Hashrate Dumps Almost 50% In 3 Months, What About ETC? - NewsBTC

Ethereum Classic saw its hashrate balloon when Ethereum finally moved to a proof of stake mechanism. The miners who were being kicked out of the network and could no longer use their machines had switched to others such as Ethereum Classic and Ravencoin to put their very specific machines to use.


Biggest Movers: ETC Moves Away From Multi-Month Lows, as XMR Extends Recent Gains - Bitcoin

Ethereum classic rallied for a second straight session on Wednesday, following better-than-expected U.S. consumer confidence data. The figures showed that confidence among American consumers rose to the highest level in eight months, with a reading of 108.3. Monero was also higher on the news, as it extended recent gains.


Ethereum Classic bears are emboldened despite the recent bounce, here's why - AMBCrypto

Bitcoin stayed afloat above the $16.6k mark after sinking to $16.2k on Monday (19 December). The sentiment across the market has been bearish in recent days, and it was likely to continue over the week.


Ethereum Classic: Long-term investors can uncover opportunities at this level - AMBCrypto

Ethereum Classic [ETC] attempted a rally but faced massive opposition from the bears. After flipping the critical support around the $18 mark into resistance, ETC broke additional supports as bears took control of the market.


Ethereum Classic: This metric could be a game changer for ETC and its investors - AMBCrypto

Ethereum Classic sees sharp drop in market cap suggesting an increase in sell pressure ETC investor sentiment saw a change and favored the coin at the time of writing Ethereum Classic [ETC] retested its short-term descending resistance line last week. The price delivered a sideways performance rather than a bearish retracement or a bullish breakout.


A $300M addition for Ethereum Classic [ETC] is a sign of... - AMBCrypto

Ethereum Classic whales are back, but momentum is off to a slow start Ethereum Classic [ETC] briefly joined the list of the market's top gainers in the last 24 hours. Many altcoins have found favor with the bulls this week, with quite a few enjoying a bit of an upside too.

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