Eth classic is pumping today, despite being a useless chain, solely because crypto miner Antpool announced a $10 million investment in Eth classic. You must ask yourself why Antpool would announce such an investment (a relatively trivial one at that - $10 million is fairly small compared to what most legitimate chains invest in development. Example, Polygon announced a $100 million developer fund a couple months ago on top of millions invested over the last year. Many more examples of other chains if you have been paying attention).
The reason is likely because Antpool is one of the biggest crypto miners, the 3rd largest Bitcoin mining pool and 14th largest Ethereum mining pool. As such, they have the most to lose when proof of work projects die out, which most inevitably will absent perhaps Bitcoin. They know Eth’s merge to proof of stake this year will further kill the utility of an already useless chain like Eth Classic. Without users, mining pools like Antpool that mine dead chains like Eth classic become less profitable. So they make an announcement of a trivial investment fund to get you to buy it so they can sell their mined Eth classic at a bit higher price. Buy away if you choose, but buyer beware, because there’s only one true, functional, and highly developed Ethereum and it doesn’t have the word classic in its name.
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