The Ethereum Classic recovered 50,000 won on the afternoon of the 25th, with the entire virtual asset market, including Bitcoin, paying keen attention to the U.S. Fed’s inflation response and interest rate hike message at the Jackson Hole meeting.

This is because good news about Ethereum has risen again. Currently, the Ethereum Foundation announced on September 19 that it will convert the consensus algorithm from proof of work (PoW) to proof of equity (PoS). Furthermore, the merge of Ethereum Testnet Goli and Prater is proceeding smoothly and exploring various possibilities.


Lee Mi-sun, head of the research center at Bithumb Economic Research Institute, said, “Etherium sales may be released after the Shanghai upgrade in the future, but if convenience upgrades such as commission cuts proceed smoothly, concerns will only be short-term.”


Prior to this, Chainless, a blockchain data analysis company, also affirmed that Ethereum has no competition through the “2022 Web 3.0 Report – Blockchain Comparative Analysis.”

In the aftermath, Ethereum Classic is playing. The Ethereum Classic is not related to Ethereum, but it is attracting attention from some investors as an alternative to some of the risks that may arise during Ethereum’s new update process.

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