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

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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.

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