Ethereum Classic (ETC-USD) is on the minds of crypto traders Thursday following the completion of the Ethereum (ETH-USD) Merge today.
The big news that traders need to know about is Ethereum switching away from a proof-of-work concept. Instead, the crypto now operates on a proof-of-stake protocol. This makes it less attractive to crypto miners.
With that change, crypto miners are piling into Ethereum Classic instead. The crypto has seen its hash rate rise as more and more miners make the switch to ETC following the ETH Merge. It’s possible that trend could continue in the weeks following the Merge.
With all of that in mind, let’s take a look at what the experts think will happen to Ethereum Classic below!
Ethereum Classic Price Predictions
- Starting off the list is Gov Capital with its one-year price estimate of $69.94 per coin.
- Next up is WalletInvestor with the publication expecting a price of $47.51 for ETC one year from now.
- Closing out our Ethereum Classic price predictions today is DigitalCoinPrice with its average 2023 estimate of $83.31.
Investors in ETC likely have a lot to look forward to based on these price predictions. That is due to all of them being above its current trading price of $37.44. Traders will also note that ETC is up about 1% over the last 24 hours as of Thursday morning.
There’s more recent crypto news traders will want to know about below!
We’ve got all of the hottest crypto news traders need to know about for Thursday! A few examples include what has Terra Classic (LUNC-USD), Tornado Cash and Bitcoin (BTC-USD) in the news today. You can find our more on these matters at the following links!
More Crypto News for Thursday
- Terra (LUNA) Crypto Founder Do Kwon Facing Arrest Warrant in South Korea
- U.S. Treasury to Release Tornado Cash Assets Back to Some Investors
- 3 Killer Crypto Picks to Beat the September Market Slump
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.