As the cryptocurrency industry continues to be plagued with price instability, leading mining experts are looking out for new opportunities. One of the leaders in the mining industry, Bitmain, has just announced that Ethereum Classic will be added to its BTC.com mining pool along with Ethereum.
Ethereum Classic (ETC) Price Today – ETC / USD
The BTC.com mining pool has always been dominated by the Bitcoin network. About 21% of Bitcoin blocks were mined on BTC.com last year. Currently, the pool makes up for about 16% of the total Bitcoin hash rate. Also, BTC.com is responsible for a significant portion of the Bitcoin Cash hashrate rate which is about 14%. By adding Ethereum Classic (ETC) to the mix, BTC.com intends to conquer new heights.
The goal of the establishment is to improve customer opportunities. Miners will be able to move their hashing power from one pool to another depending on which network they consider feasible at a given time. The market conditions will influence their mining efforts. The company explained that the new initiative is in line with their efforts to diversify the mining pool’s portfolio.
The director of the company Zhuang Zhong, said he at the team is considering enabling mining for other cryptocurrencies like ZCash, Litecoin, and Monero. However, he didn’t give any precise information about when these cryptocurrencies will be added.
Ethereum Classic (ETC) Price Analysis
At the time of writing, Ethereum Classic (ETC) was trading at $12.86. This indicates a 1.35% rise against the USD and a 0.14% rise against Bitcoin (BTC). The market capitalization at the time of writing was $1,340,054,624 while the trading volume within a 24 hour period was about $172,747,690. Ethereum Classic now has a circulating supply of 104,190,926 ETC. This is according to the data on CoinMarketCap. The next few trading sessions will determine if the price action will change for good or for bad.