Original Ethereum Outperforms ETH Despite Its 'Institutional Evolution'

[Cz Rock]

The native token of the original Ethereum blockchain, Ethereum Classic (ETC), is rallying, rising nearly 50% in a day, outperforming Ethereum (ETH) despite its 'institutional evolution'.

ETC, currently the 16th coin by market capitalization, is up by 47% in a day (7:20 UTC), almost reaching USD 79. It surged 134% in a week, and 444% in a month. Overall, in the past year, it appreciated 968%. Earlier on May 5, it hit an all-time high of USD 83.78.

Meanwhile, ETH is down by almost 3% in a day, while it appreciated more than ETC only in the yearly time frame, and by a substantial amount - ETH is up 1,465% in the past 12 months.

ETC's 24-hour trading volume also jumped significantly, from USD 1.2bn on May 3, to USD 11.15bn on May 4, and USD 13.54bn recorded so far today - landing the coin on the 7th place by this metric. ETH is ranked 2nd, with USD 73.7bn today.

Original Ethereum Outperforms ETH Despite Its 'Institutional Evolution'

[Fenix]

ETC has not been very popular until now and its sharp rise in price is a surprise to me. Does this mean that some do not believe in a successful ETH upgrade, or is it due to the fact that soon ETH will not be mined and therefore miners will switch to ETC and this coin will become more attractive?