Ethereum Classic ETC price, market cap $18 4087 Chart
On the other hand, Ethereum is a much safer bet as a cryptocurrency because it has far more to offer. ETC is well down the list of cryptocurrencies by a huge gap and has no Decentralized Finance apps or NFTs supporting it. Ethereum is leading the alternative currency revolution, only behind Bitcoin. Although Ethereum Classic can perform any function that Ethereum can, the development community has almost virtually abandoned it.
Why Ethereum Classic (ETC) Is Up 9% In The Past 24 Hours By … – Investing.com UK
Why Ethereum Classic (ETC) Is Up 9% In The Past 24 Hours By ….
Posted: Mon, 13 Mar 2023 22:40:00 GMT [source]
In January 2018, Ethereum Classic price reached an all-time high at the value of $47, then dipped to $28 in the same month. Ethereum Classic price went through a rebound in April, recording 51% gains and a new monthly high at $22. Until December 2018, ETC price traded between lows of $9 and highs of $20, before sinking to $4 at the end of the year. How do Ethereum Classic price movements correlate with market trends? Check our comprehensive cryptocurrency price page for information at a glance. Most Ethereum users moved on to the new hard fork, leaving Ethereum Classic with a significantly smaller community.
Ethereum Classic PRICE HISTORY
Like ETH it provides a decentralized turing-complete virtual machine, the EVM, which can execute scripts across the network. Ethereum Classic is a continuation of the original Ethereum blockchain – described as the classic version, preserving untampered history, free from external interference. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.
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This text is informative in nature and should not be considered an investment recommendation. It does not express the personal opinion of the author or service. Any investment or trading is risky, and past returns are not a guarantee of future returns. Fundamental analysis focuses on the wider economic state of the market, as well as dev team activity, new upgrades, updates, and the overall value of ETC utility. Events like partnerships, adoption, and government regulations can also affect the price of ETC and are observed through the use of fundamental analysis. January 2020 started bullishly with 157% of gains and ETC was able to climb to the price of $12 as its new high for the year until it reached the value of $13 in February.
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The current cryptocurrency Market Capitalization Dominance among all other cryptocurrencies in the market. Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation . Yes, Ethereum Classic is legal to purchase and own anywhere where cryptocurrency is legal.
Over the years, etc cryptocurrency price has grown to become the biggest smart contract platform while ETC has struggled to keep pace. Ethereum is the new blockchain created after the hard fork while Ethereum Classic is the original Ethereum blockchain. The two networks have different technical roadmaps and upgrades to Ethereum don’t affect Ethereum Classic.
Ethereum Classic (ETC) price history
Although the two unique forms of Ethereum were created using the same code, they are presently very different in terms of developer ecosystem and community support. ETH is at the center of Decentralized Finance as well as smart contracts, while ETC has fewer use cases and, WAVES unfortunately, has been targeted by 51% attacks in the crypto space. BitDegree Crypto Learning Hub aims to uncover, simplify & share cryptocurrency education with the masses. Based MATIC on the Learn and Earn principles, crypto newcomers, students & researchers are enabled to gather core crypto knowledge by collecting incentives while they learn.
You can use blockchain to timestamp and protect your documents for free. Ethereum Classic has had no DEXs, DAPPs, NFTs, or anything else constructed for it, and as a result, the cryptocurrency has been subject to the bulk of attacks from miscreants. However, how these two routes have evolved through time has drastically changed the speculative value of digital assets. Although there aren’t as many differences between the two as we might think, due primarily to their inherent similarity, these handful of differences are still quite too significant to ignore. Wall Street took notice when Ethereum started being accepted by crypto users on such a massive scale-often outperforming Bitcoin.
The security incidents surrounding ETC can also lead to a halt on withdrawals and deposits of the token on major exchanges. This creates major price differences between exchanges, opening market-neutral opportunities for arbitrage between exchanges. In short, ETC can be moved between exchanges and bought and sold at different prices due to the instability surrounding major security events.
DR metric is a sign of the ‘s website reputability that is ranked from 0 to 100 . Organic Traffic – is a metric of how many monthly users visit the project’s website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype. The quantity of all coins/tokens that have ever been issued , minus all coins/tokens that have been removed from circulation .
Find all the information you need with Alexandria, CoinMarketCap’s dedicated education resource. The possible scalability constraints of Ethereum Classic are one of its main worries. The network can typically support 15 transactions per second , which is significantly lower than payment networks like Visa, which support more than 1,000 transactions per second. Although Ethereum Classic has undergone numerous software improvements, one of its largest problems moving ahead will continue to be the scalability of its payment systems.
- It looks for patterns in the historical data to identify potential trend reversals in the future price movement.
- It is still connected to the “brand” of Ethereum which is highly respected and heavily invested in by major players in the new and traditional financial industries.
- Ethereum Classic is based on the older branch of Ethereum that diverged from a 2016 network hack.
- Ethereum Classic first set out to preserve the integrity of the existing Ethereum blockchain after a major hacking event led to the theft of 3.6 million ETH.
- Sentiment analysis measures opinion data and categorizes it as positive, negative, or neutral.
The widely tracked ratio measures ether’s market capitalization in relation to the value of on-chain transactions processed on the Ethereum network. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates. The Ethereum Classic crypto network is based on the principles of “Code is Law” and “Build Unstoppable Applications”. It aims to maintain complete decentralization and does not alter its protocol. All smart contracts launched on Ethereum Classic run as they are programming, without external interference.
Ethereum Classic is available through the most popular cryptocurrency exchanges and through lesser-known cryptocurrency exchanges as well. The token is widespread and widely available in the cryptocurrency industry. However, withdrawals and deposits of ETC are sometimes frozen due to security incidents surrounding the token.
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https://www.beaxy.com/Desk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms. Ethereum, on the other hand, is a fork of the original Ethereum blockchain created in 2016. It emerged as a response to a hack that caused the loss of millions of dollars worth of Ether.
ETC, the native coin of Ethereum Classic, is used to pay for using its computational resources. As in Ethereum, one needs to pay gas fees for the execution of smart contract functions and coin transactions. This payment goes to miners who validate transactions, perform smart contract computations and add new blocks to the chain. Besides being a payment mechanism for blockchain transactions, ETC, owing to its deflationary nature, is also used as a store of value. The live price of Ethereum Classic is in constant flux, with frequent radical changes that can bring major gains or major losses.
Having analyzed Ethereum Classic prices, cryptocurrency experts expect that the ETC rate might reach a maximum of $26.68 in September 2023. For September 2023, the forecasted average of Ethereum Classic is nearly $23.97. Ethereum Classic is an open source, blockchain based distributed computing platform.
Does ETC have a future?
Ethereum Classic Price Prediction 2024
After the analysis of the prices of Ethereum Classic in previous years, it is assumed that in 2024, the minimum price of Ethereum Classic will be around $36.38. The maximum expected ETC price may be around $44.28. On average, the trading price might be $37.69 in 2024.
In contrast, Ethereum Classic has a more decentralized approach to governance, with decisions made by the community through a consensus process. As a voluntary organization, the developers of ETC do not aim to turn the network into a for-profit entity. Users pay transaction fees as with Ethereum, and miners collect them based on work done as per the proof-of-work mining algorithm. Not to mention, the entire Decentralized Finance and NFT marketplace, which have been sweeping through cryptocurrency in recent months, is centered around Ethereum.
The market cap of Ethereum Classic is equal to the number of ETC in circulation multiplied by the current price of Ethereum Classic. The volatility of ETC means that its price may rise or fall quickly within a brief timeframe. From the price of $5 in December 2020 and the start of 2021, ETC price experienced a surge and traded at $9 as its highest price in January. With the intervention by Ethereum’s team, the platform was able to return all of the stolen funds to their owners.
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Sentiment can also affect the price of ETC and other cryptocurrencies. The price of Ethereum Classic has been through lows and highs in the 5 years since its creation through an Ethereum hard fork. Trading at lows below $1 and highs above $40, Ethereum Classic price is another example of the high volatility dictating trends in the cryptocurrency market.