Ethereum Classic (ETC) has outperformed ETH since the beginning of the year. Although the price of both ETC and ETH has fallen since the beginning of the year, ETC has managed to outperform ETH. From year-to-Tuesday, ETC dropped 28%, while ETH fell 59%. Also, Ethereum Classic (ETC) is up 87% to $25.2 since hitting $13.34 lows a week ago. On the other hand, ETH has reached $1,570 at the time of writing, up 54% from $1,006 a week ago.

ETC's strong rise comes after the short-lived rally in March and April of this year, when ETC rose more than 90% in just over two weeks. It fell by around 47% in the next 30 days. Looking at the chart, it doesn't take expertise to see ETC essentially acting like 'hormoned ETH'. The price movements of the two coins are generally in the same direction, but ETC is experiencing strong gains after deep corrections.

Ethereum Classic Etc

As reported in March, there were massive price increases for ETC versus ETH in August and December 2016, September 2018, February 2020, and May 2021. However, after each increase, there was a decrease, while ETC generally fell below its price before the increase.

It is worth noting, though, that Ethereum Classic as a network has fundamentals that support it, such as the network hashrate, which increased significantly in 2021. However, it is seen that the growth in hashrate has been stable this year, generally varying between 22 and 28 thash/s. In addition, the narrative about Ethereum miners is shifting to Ethereum Classic, as Ethereum's transition to proof-of-stake (PoS) gains traction, although there is no such change in sight yet. However, while there are hopes among Ethereum Classic community members that ETC will taste success once Ethereum Merge happens, some say institutional investors prefer ETC for their foundations.