Despite the fact that the entire crypto market fell, despite the recent update of the Ethereum blockchain, the latter switched to the Proof of Stake system with The Merge, we are nevertheless seeing that some assets are showing positive price signals.
As the condition of the traditional economy begins to improve, it can be assumed that some cryptocurrencies will follow this upward trend. In this article, we will detail some of these crypto assets that can represent a great profit opportunity.
Enjoying a strong rally over the past few weeks and impressive investor enthusiasm due to the merger, Ethereum (ETH) is now in decline. With the price yesterday, Thursday, September 15th at $1,648.19 at its peak, we are seeing ETH now move at $1,462.40, up slightly over 10% according to TradingView data. within 24 hours.
It is important to keep an eye on Ethereum price movement despite its recent drop because the cryptocurrency market is increasingly focused on environmental issues and the concept of energy conservation. In addition, institutional players have repeatedly expressed their disapproval of Proof of Work systems.
The most recent of these statements comes from a recent report released by the White House last week that described mining as being harmful to the environment. This is a comment that is especially aimed at Bitcoin now that the Ethereum merger has already gone into effect and the blockchain has gotten rid of over 98% of its power consumption.
So, even if the decline may continue for several weeks, and September has historically been a bad month for the crypto market, in the long term, Ethereum seems like an important choice for all investors.
Born from the initiative of Chandler Guo, a Chinese entrepreneur and well-known member of the crypto mining community, ETHPoW is a hard fork of Ethereum that continues to use the Proof of Work system.
ETHPoW (ETHW) is currently ranked #2 on the Crypto Trending Chart on CoinMarketCap and is valued at $12.99, almost 60% lower than yesterday when its value peaked at $60.68. We are seeing strong wind volume on this cryptocurrency that seems to be increasing.
The ETHPoW case could represent a buying opportunity for reactive investors able to master arbitrage techniques. However, keep in mind that this cryptocurrency is probably not the best choice for a long-term investment. In addition, Ethereum co-founder Vitalik Buterin opposed ETHPoW and supported Ethereum Classic (ETC) as a suitable alternative for users wishing to continue their mining business.
Ethereum Classic (ETC)
Ethereum Classic is a cryptocurrency that was hard forked after the TheDAO hack in June 2016. Until now, Ethereum Classic has been somewhat forgotten in the cryptocurrency market. Ethereum Classic is an asset that has seen a resurgence in popularity since last July due to the desire of Ethereum miners to continue their activities.
Today, Ethereum Classic is worth $34.20, according to TradingView data, while it hovered around the $14 mark in mid-July. The data indicates that the blockchain hashrate has peaked at 65.49 terahesh per second (TH/s), which is equivalent to the all-time high since its inception and confirms that some miners have definitely turned to ETC.
Shiba Inu (SHIB)
Created in August 2020 by an anonymous developer called “Ryoshi” and extremely popular on Twitter, Shiba Inu (SHIB) is a cryptocurrency that belongs to the “memcoin” category, that is, a cryptocurrency whose humorous side comes to the fore. Since the announcement of the Metaverse project under construction, Shiba Inu Lands a few weeks ago, SHIB is enjoying increasing investor enthusiasm.
SHIB is currently worth $0.00001172, down 2.11% in the last 24 hours. On Friday, September 16, at the time of this writing, the Shiba Inu is ranked fourteenth in the crypto ecosystem by market cap.