Ethereum Classic activează furculița „Magneto”, dar ar trebui să fii precaut

Ethereum Classic is trending once again after the latest update to its network. The upgrade dubbed “Magneto” was first a anunțat on 11 June, with many in the community then expecting a price hike to follow soon.

magnetou has now been successfully implementat on the ETC network. As planned, the hard fork was activated at block 13,189,133 and inclus the Ethereum Improvement Proposals (EIP) first seen in Ethereum’s Modernizare la Berlin mai devreme anul asta.

Following the same, the developers behind Ethereum Classic gave the community a quick update. “Hash-rate stable, majority nodes updated, major service providers updated,” the team tweeted. The hard fork was also sprijinite by prominent exchanges like Binance.

A day before the upgrade went live, ETC avizat its users to overhaul their ETC nodes. In fact, a raportează from the same cautioned,

„Dacă sunteți un schimb, un portofel, un grup sau un alt utilizator care operează noduri Ethereum Classic, vă rugăm să actualizați software-ul nodului pentru hard-fork Magneto cât mai curând posibil.”

As expected, ETC noted quite a surge in interest within the community, with its price reacting to the same as well. These developments came on the back of Ethereum Classic emerging as the second-best gainer in Q2 of 2021, contrary to BTC’s own movements. At the time of writing, ETC was comercial around the $45.90-level after a 3% hike in 24 hours.

Bullish development = Bullish on-chain metrics?

Now, many proponents within the community have comun their bullish projections for the altcoin. However, what picture are on-chain metrics painting these days?

Gandeste-te la asta -

În conformitate cu Santiment insights, for instance, development activity for the altcoin căzut on the back of a downtrend. In fact, it dropped to levels last seen in January 2021.

Additionally, the prevailing market sentiment, according to Zdrobirea lunară, appeared to be bearish as well.

Sursa: Zdrobirea lunară

Finally, ETC’s active addresses and 24-hour transactions were well below May’s levels too. Needless to say, some of the altcoin’s on-chain metrics don’t share the optimism associated with these upgrades.

Sursa: bitinfocharts

Here, it’s worth pointing out that just recently Ethereum Classic primit a lot of validation from Ethereum’s Vitalik Buterin. According to him, ETC should be the natural choice for developers who want to remain on Proof of Work.

Source: https://ambcrypto.com/ethereum-classic-activates-magneto-hard-fork-but-should-you-be-wary/