city Santiment UPS Ethereum ETH Platform city Santiment

As Ethereum Classic stands up for grabs, bears choose ETC for their next feast

Reading now: 763
ambcrypto.com

Ethereum Classic [ETC] has been bearing the brunt of the much-awaited ETH Merge. Echoing the sentiment of bears, it is expected that the price of ETC will take a down swing considering its current performance.

However, even with ETC’s declining volume and marketcap, ETC witnessed a spike in its social media dominance and sentiment.However, the question remains if ETC’s social media dominance would be enough to beat short-traders?Santiment, a leading market intelligence platform, in a tweet from 22 September made a comment on ETC’s position.

The tweet stated that ETC witnessed a high level of bets against its price, particularly after the Merge. This was an indication that the market didn’t believe in ETC’s capabilities to become a PoW alternative.

Additionally, another reason for the massive lack of faith in ETC could be due to a significant decrease in ETC’s miner revenue.

Read more on ambcrypto.com
The website financemag.cash is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA