In this article, we will look at 5 cryptocurrencies Redditors are buying after the Merge. If you want to read our detailed discussion of the Merge and its possible benefits and risks, you can take a look at Redditors are Buying These 10 Cryptocurrencies After the Merge.
5. Ethereum Classic (ETC)
Market Cap as of August 31: $4.5 Billion
Ethereum Classic is a blockchain-based distributed computing platform that provides smart contract functionalities. The Ethereum Classic’s native token is ETC. Ethereum was forked off of Ethereum Classic back in 2016 when a hack caused the DAO to lose roughly $50 million. The Ethereum Classic network achieves consensus via a proof-of-work consensus mechanism. As of August 31, Ethereum Classic has a market cap of roughly $4.5 billion and over 136 million ETC in circulating supply.
Ethereum Classic has come to the attention of Redditors as the date of the Merge approaches. For Redditors, Ethereum Classic is the new Ethereum, as it retains the original back-end functionalities of the original Ethereum network. On July 27, leading Chinese crypto mining company Bitmain invested $10 million to further the development of the Ethereum Classic ecosystem.