Ethereum Classic (ETC), which emerged with the Ethereum network fork, started to lose its popularity as the interest of the community waned.
ETC left behind a tough September with the effect of the ongoing bear market. The project, which emerged with the network fork of the smart contracts platform Ethereum, attracted a lot of attention. Especially with Merge, it was flooded with miners due to being a PoW product.
ETC Slugs in Social and Network Metrics
According to social data sharer LunarCrush, the ETC side’s social metrics dropped strongly in September. In addition, the social media interactions of the project decreased by about 75 percent. The community attributes ETC’s decline in social metrics to the emergence of ETHW.
After the Merge update, Ethereum mining users started to flock to the ETC side. The project, which achieved price stability with the effect of this, also gained momentum in mining rates. However, the emergence of the EthereumPoW (ETHW) project with a fork changed things. The interest and interest of the community shifted to the ETHW side.
There was a pessimistic mood on the ETC side as the loss of interest was followed by the price drop. According to AMBCrypto, the project may not recover from the bearish impact.
ETC Data, How About The Ethereum Classic Network?
Ethereum Classic has started to fall into the background due to recent events. In particular, the stealing of the Twitter account, in the project’s own terms, reduced the activity on the social media. After these events, the interest of the miners started to shift to different projects. One of the most serious concerns for ETC could be miners leaving the project.
On the ETC side, hash rates have dropped significantly. Along with the hash drops, there was also a decrease in mining earnings. All these developments further weakened the security of the ETC network.
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