RATE Group | ETC/USD resumes the upside after hash rate increase.
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ETC/USD resumes the upside after hash rate increase.

03 Feb ETC/USD resumes the upside after hash rate increase.

Posted at 08:46h in Ethereum News by

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  • Ethereum Classic network has registered another hash rate increase towards the record high.
  • ETC/USD is poised for further upside after a short-term technical correction.

Ethereum Classic (ETC) has gained nearly 6% in recent 24 hours to trade at $12.08. The coin hit the recent high at $12.86 on January 29 and has been range-bound with bearish bias ever since. However, now that the price broke above $12.00, the upside momentum may gain traction again. ETC is the 11th largest digital asset with the current market value of $1.4 billion. The coin has gained nearly 190% since the beginning of the year.

Ethereum Classic network hash rate has settled close to an all-time high

The hash rate hit the record high at 20.36 on January 29. By the time of writing, the metric has retreated to 18.65, though it is still elevated as compared to the levels around 11.21 registered at the beginning of the year. The higher the hash rate, the more resistant to 51% attack the network…

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