According to data from, the price per ETC coin rallied by 11% moments after the Merge. With the final transition of the Ethereum mainnet into a proof-of-stake consensus mechanism, dispensing with the need for miners, Ethereum Classic logged a significant uptick in mining activity as former Ethereum miners scamper for new proof-of-work networks to work on.showed that the Ethereum Classic chain had set a new hashrate all-time high following the Merge.showed that the token exchanged hands at $1.
At press time, an LDO token could be obtained for $1.75. Data from CoinMarketCap revealed a 2% decline in the asset’s price in the last 24 hours. However, within the same period, the asset’s trading volume was up 107%. With the lack of a corresponding asset price growth, the surge in trading volume indicated buyers’ exhaustion, and a further decline in the price of LDO should be expected.On a daily chart, buying pressure for LDO has declined consistently since the beginning of the month. As a result, its Relative Strength Index and Money Flow Index have dropped below their respective neutral regions since the month started.
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