Main navigation

Bitcoin and Ethereum Spinoffs, BCH and ETC, Are Leading Altcoin Rebound: Here's Why

Tue, 22/03/2022 - 10:32
Bitcoin and Ethereum Spinoffs, BCH and ETC, Are Leading Altcoin Rebound: Here's Why
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

As per data from CoinMarketCap, cryptocurrencies Bitcoin Cash (BCH) and Ethereum Classic (ETC), are trading higher by 10% and 11.73% in the last 24 hours. The cryptocurrency market is posting a recovery as Bitcoin and altcoins were adding value at press time.


Ethereum Classic (ETC) was created in 2016 as the result of a spinoff or "hard fork" of the original Ethereum network. The Ethereum Foundation is expected to migrate from proof-of-work to proof-of-stake consensus in Q2, 2022, through "The Merge.'' Proof-of-work cryptos are highly dependent on mining, while proof-of-stake cryptos are not. This might present an opportunity for ETC, being a proof of work consensus operating a modified version of Ethash called ETChash.

Ethereum's upcoming Merge event might disenfranchise the largest EVM Proof of Work mining ecosystem, but Ethereum Classic says it is well-positioned to absorb much of this abandoned Ethash hashrate.

In an official blogpost titled ''Migrating to ETChash Post ETH Merge,'' the Ethereum Classic project welcomes "disenfranchised" ETH miners who may lose out on their stream of income when the Merge occurs. The reported success it is seeing in the migration likely contributed to the recent rise.

Per CoinMarketCap data, in the last seven days, ETC is up over 70.89% at a present price of $43.30. The daily transaction volume on the chain is reportedly about 100,000 ETC.

Bitcoin Cash is a Bitcoin spin-off or hard fork that was created in 2017.

As covered previously by U.Today, Sint Maarten, a constituent country of the Kingdom of the Netherlands, could make Bitcoin Cash, the most prominent fork of Bitcoin, its legal tender.

Rolando Brison, the head of the United People's Party, says that he has already started exploring such a bill. As per CoinMarketCap data, in the last seven days, BCH is up over 27.69% at a present price of $362.43.


Latest Press Releases

Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Bridging the Data Trust Gap: 2024 RegTech Confab Set to Unlock Africa’s Economic Potential
ApeX Protocol Partners with Alertatron to Enhance Automated Trading Capabilities
TeachMeCode Institute Announces Grand Opening of Cutting-Edge Dubai School
Our social media
There's a lot to see there, too

Popular articles