Ethereum Classic (ETC) has a chance to profit from The Merge because Ethereum developers have previously recommended that miners switch to ETC. With the recent increase in the price of ETC, Ethereum Classic has already demonstrated that it has a lot of support from traders. The Ethereum Proof of Work Hard Fork will be launched immediately following The Merge, the miners said in the meanwhile.
There may be a dual split with the proof of work (ETHW) chain on one side and Ethereum Classic on the other.
The mainnet launch date has already been made public by the ETHW organisers. ETHW may fork on September 16 as the Ethereum Merge is scheduled to be finished on September 15. About 24 hours after Ethereum switches to proof of stake consensus, the mainnet will launch. According to a statement, the mainnet will begin at the height of the Merge block "plus" 2048 EMPTY blocks.
Major mining pools like f2pool and Poolin have already affirmed that they support mining ETHW. On the basis of information from the ETHW testnet, various additional pools are also conducting mining tests. Additionally, the cryptocurrency exchange Poloniex has declared its support for the listing of a potential ETHW fork. T
he market pair for ETHW/ETH will be added to Poloniex following the Merge, it said. The branched token linked to the mainnet's proof of work (PoW) system will also be called $ETHW, according to cryptocurrency exchange Binance.
It remains to be seen whether the Ethereum Merge will provide a significant boost for the ETH price surge. However, there are worries that the shorting of Ethereum derivatives would cause ETH to experience a bear rally. Despite a price drop on Tuesday, the price of Ethereum (ETH) has generally been steady over the last day.
According to market monitor CoinGabbar, the price of ETH as of this writing is $1,590, up 1.18% over the previous 24 hours. While Ethereum Classic (ETC), which is now number 17 in terms of market cap, is moving upward. The price of ETC is currently $37.55, up 6.5% over the previous day.
