Tags on this story
beam (BEAM), ergo (ERGO), ETC, ETC chain, ETH, Ethash, Ethash cash, ether, Ethereum (ETH), Ethereum Basic, ethereum basic (ETC), Ethereum Basic’s hashrate, merge, PoS, PoW, ravencoin (RVN), The DAO fork, The Merge, transition
On Thursday, following the official proof-of-stake (PoS) transition announcement from the Ethereum Basis, Ethereum Basic’s hashrate tapped one other all-time excessive at block top 15,806,925. The newest leap to 38.64 terahash marks the community’s second report excessive in 5 days, as Ethereum Basic captured 38.37 terahash per second (TH/s) on August 20, 2022.
The Ethereum Basis not too long ago revealed a weblog submit referred to as the “Mainnet Merge Announcement,” which provides the general public extra exact dates regarding The Merge improve. On the time of writing, The Merge is predicted to go reside on Sept 10-20, 2022, and when that occurs, Ethash proof-of-work (PoW) miners can be compelled to mine one other Ethash-supporting crypto community.
Ethash miners have just a few cash they’ll select from, like ravencoin (RVN), ergo (ERGO), beam (BEAM), and ethereum basic (ETC). 5 days in the past, Bitcoin.com Information reported on ETC’s hashrate tapping an all-time excessive at 38.37 TH/s at block top 15,776,674. On August 25, 2022, ETC surpassed that report because the community’s hashrate reached 38.64 TH/s at block top 15,806,925.
There’s an ideal risk ETC might surpass that report once more within the close to future as a result of the community jumped over the August 20 report on August 24 at block top 15,801,069 when it reached 38.40 TH/s. Furthermore, there’s nonetheless 975.15 TH/s of hashpower pointed on the Ethereum (ETH) community immediately. Whereas there are just a few totally different Ethash supporting cash, up to now, Ethereum Basic has been the primary beneficiary of The Merge.
Ethereum basic (ETC), the community’s native token, has additionally managed to climb from the twentieth largest market valuation to the nineteenth, as ETC costs jumped 10.2% larger within the final 24 hours. ETC jumped from $34.57 per unit through the early morning buying and selling classes on Thursday (EST), to the day’s worth excessive at $38.09 per unit.
ETC has managed to climb 61.2% larger towards the U.S. greenback over the last 30 days. Actually, ETC’s worth rise over the previous month is larger than ethereum’s (ETH) 18.4% rise in the identical time interval.
What do you concentrate on Ethereum Basic’s current hashrate spike? Tell us what you concentrate on this topic within the feedback part beneath.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any harm or loss brought on or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or companies talked about on this article.
Cryptocurrency News & Live Updates
Synopsis
Cardano’s price has increased for two consecutive days, reaching $0.60, driven by a significant development in its Bitcoin integration efforts. However, the coin’s price action suggests a potentially bearish pattern ahead.
Cardano (ADA) has seen a notable price increase, rising over 17% to $0.60, largely due to the first on-chain transaction proving Bitcoin’s state on its network, marking the start of a Cardano-Bitcoin bridge. Despite this bullish narrative, Cardano faces challenges, including a relatively inactive ecosystem and low total value locked in DeFi. Meanwhile, Dogwifhat (WIF) has also experienced a price surge, rising 43% to $0.92, with increased whale accumulation indicating potential for further gains. The token is forming a cup-and-handle pattern, suggesting a projected breakout target of $2.37. In regulatory news, concerns persist regarding stablecoin frameworks in the EU and Switzerland, with calls for clearer guidelines to support industry growth. Additionally, Fitch predicts the U.S. deficit will exceed 7% of GDP next year, highlighting broader economic challenges. Lastly, Amber International raised $25.5 million to expand its Crypto Ecosystem Reserve, reflecting a trend among crypto firms to bolster their balance sheets amid cautious funding cycles.
Show more
Cardano’s price has increased for two consecutive days, reaching $0.60, driven by a significant development in its Bitcoin integration efforts. However, the coin’s price action suggests a potentially bearish pattern ahead.
Dogwifhat (WIF) token has seen a 43% increase, reaching around $0.92, driven by whale accumulation and bullish market indicators, suggesting further growth ahead.
Peter Märkl of Bitcoin Suisse highlights ongoing regulatory ambiguities for stablecoins in the EU and Switzerland, stressing the need for clearer frameworks under MiCA and addressing challenges like KYC requirements.
Fitch’s Richard Francis forecasts that the U.S. government deficit will surpass 7% of GDP next year, with the debt ratio nearing 120% of GDP by 2026, despite anticipated tax cuts.
Amber International Holding has raised $25.5 million to enhance its $100 million Crypto Ecosystem Reserve, aimed at supporting blockchain networks and product development.
As of July 3, 2025, Bitcoin has reached the 110,000 USDT mark, reflecting a modest 0.80% increase over the past 24 hours.
The IMF warns that President Trump’s proposed tax legislation may obstruct efforts to lower fiscal deficits and debt levels, potentially increasing the deficit by $3.3 trillion.
U.S. Treasury Secretary Besant predicts that numerous trade agreements will be finalized by July 9, impacting around 100 countries with at least a 10% reciprocal tariff.
Ondo Finance, in partnership with Pantera Capital, is initiating a $250 million fund to invest in projects focused on real-world asset tokenization.
Erebor, a new crypto bank backed by notable figures, aims to fill the financial void left by Silicon Valley Bank’s collapse by focusing on stablecoin transactions and services for tech companies.
ETH rose 0.55% to $2,584.90 following strong U.S. jobs data, which indicated labor market resilience and pushed the S&P 500 and Nasdaq to record highs.
Bitcoin’s market dominance has decreased slightly, now at 65%, as the U.S. jobs report is set to be released today, with expectations of a modest increase in nonfarm payrolls and a rise in unemployment.
OpenAI has denied any connection to Robinhood’s stock tokens, emphasizing that these tokens do not represent actual equity and warning users to exercise caution.
The IMF has turned down Pakistan’s request for subsidized electricity for crypto mining, despite plans to allocate 2,000 megawatts of surplus power to the sector.
The SEC has temporarily paused the launch of Grayscale’s Digital Large Cap Fund (GDLC) ETF for commissioner review, citing the need for standard-setting rather than political reasons.
Tether has minted an additional 1 billion USDT on the Ethereum network, as reported by Whale Alert, to manage liquidity and meet market demand.
Despite no crypto provisions in Trump’s budget, the liquidity boost may positively impact crypto assets.
Binance has launched two key upgrades to its Pay Send service, introducing features that allow users to send cryptocurrencies via phone contacts and on-chain transactions, enhancing speed, security, and convenience.
Analyst Turner from ING emphasizes the importance of the upcoming U.S. non-farm employment report in assessing the dollar’s downward trend, with potential implications for interest rates.
As of July 3, 2025, Bitcoin is trading at 108,959.99 USDT, reflecting a modest 1.55% increase over the past 24 hours, according to Binance Market Data.
As of July 3, 2025, BNB is trading at 659.69 USDT, reflecting a modest 0.46% increase over the past 24 hours.
The CME’s FedWatch tool shows a 76.7% chance that the Federal Reserve will not alter interest rates in July, with a 23.3% possibility of a 25 basis point cut.
YZi Labs has announced its participation in Digital Asset’s $135 million Series E funding round, joining major financial institutions to support the growth of the Canton Network, which facilitates on-chain asset tokenization for regulated institutions.
Despite initial excitement from President Trump’s directive to establish a Bitcoin reserve, legislative hurdles and a lack of public plans have stalled progress.
The Open Platform has reached a $1 billion valuation after securing $28.5 million in funding, marking a significant step for the TON ecosystem in integrating crypto with Telegram’s vast user base.
Beijing North Fonda has formed a strategic alliance with Guofu Quantum Innovation Co., Ltd., focusing on virtual assets and digital currency to enhance their global fintech presence.
Analysts report that the dollar has experienced its worst start to a year since 1973, with a significant decline in value against other currencies amid waning confidence in U.S. policies.
A class-action lawsuit has been filed against Strategy and its executives, including Michael Saylor, over a reported $5.9 billion loss in Bitcoin holdings due to new accounting rules.
Pepe Coin (PEPE) surged to $0.0000107, driven by whale accumulation and a broader crypto market rally, with large holders increasing their stakes by 5% over the past month.
U.S. Treasury Secretary Besent has downplayed worries regarding the dollar’s recent depreciation, asserting that its value is not tied to the strong dollar policy, which focuses on long-term measures to maintain its global reserve status.
Despite a decrease in initial jobless claims, U.S. continuing unemployment claims have risen to 1.964 million, the highest since November 2021, with significant contributions from the Deep Tristate area.
Nano Labs Ltd has acquired 74,315 BNB in an OTC deal, totaling around $50 million, raising its cryptocurrency reserves to approximately $160 million.
Tether has partnered with Adecoagro to explore renewable energy Bitcoin mining in Brazil, utilizing surplus energy from Adecoagro’s facilities.
On July 3, the U.S. House of Representatives voted to approve President Trump’s major tax reduction and spending bill, known as the ‘Big and Beautiful’ bill, with all Democrats and two Republicans opposing it.
Senator Cynthia Lummis has introduced a standalone cryptocurrency tax bill to reform the U.S. tax code for digital assets, including a $300 transaction threshold and tax parity with traditional financial assets.
Ripple Labs’ application for a U.S. banking license has sparked considerable speculation regarding XRP’s price, with analysts observing bullish momentum and potential resistance levels.
Sui (SUI) has reached around $3 following a week-long rally driven by Lion Group’s $600 million crypto treasury plan, marking a 15% increase over the past week.
Bo Hines, Executive Director of Trump’s Digital Asset Advisory Committee, predicts that stablecoin legislation could drive the cryptocurrency market’s growth to between $15 trillion and $20 trillion.
Nano Labs has initiated its strategy to acquire up to $1B in BNB by purchasing 74,315 tokens for $50 million in an OTC deal, signaling a shift in its business model amid declining hardware revenues.
Binance has rolled out two major upgrades to its Pay Send service, introducing features that improve the speed, security, and convenience of cryptocurrency transfers.
How Every Senator Voted on the Iran War Powers Resolution
Why Mariah Carey Doesn’t Use a Scale After Her 70-Lb Weight Loss
Trump's 'big, beautiful bill' faces Republican family feud as Senate reveals its final text
Facebook is starting to feed its Meta AI with private, unpublished photos
Tech industry group sues Arkansas over new social media laws
What is birthright citizenship and what happens after the Supreme Court ruling?
After U.S. and Israeli Strikes, Could Iran Make a Nuclear Bomb?
California lawmakers approve expanded $750-million film tax credit program