Ethereum Classic was the original version of Ethereum, prior to the DAO hack. While Ethereum Classic offers similar functionality to Ethereum, it uses a PoW consensus model and has no plans to switch to a proof-of-stake model like Ethereum did after the Merge. The percentage of Binance customers who increased or decreased their net position in BTC over the past 24 hours through trading. Get the latest crypto news, updates, and reports by subscribing to our free newsletter.
Will ETC hit $100 again?
Will Ethereum Classic (ETC) Hit $100? Ethereum Classic will return to prices above $100 per coin by 2023 though ETC will not be able to maintain prices beyond this level until 2025.
A decentralized platform that runs smart contracts, created in 2016, when Ethereum underwent a ‘hard fork’. It has a circulating supply of 139.2 million ETC coins and is ranked #25, current Ethereum Classic market cap is $2.6 billion. Ethereum Classic All time high price is $129.73, it was 1 Year and 10 Months Ago, For the previous 52 weeks, the lowest and highest value for Ethereum Classic was $12.60 and $52.05. Ethereum Classic is the unforked, original history-containing version of Ethereum, supported by advocates – but not the core team of Ethereum developers. Due to a $60m hack of a third-party project in 2016, the Ethereum Foundation made the decision to hard-fork the network and restore the lost funds. However, the original network continued – renamed Ethereum Classic – championing the philosophy that smart contracts shouldn’t be interfered with, regardless of how painful a hack may be.
Ethereum vs Ethereum Classic: Comparison Of ETH And ETC
This metric can be used as a predictive indicator of the asset’s future market capitalization. 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.
Will ETC reach $300?
Its ethereum classic price prediction for 2025 forecast it would stand at $70.09. The site predicted that ETC would reach $313.12 in 2030.
As proof of work crypto coin, new ETC’s are generated through the mining process, so on each block, new assets are created. There are currently approx 71.5 M ETC coins left that aren’t in circulation yet from the maximum supply of 210.7 M. Ethereum Classic is an open-source decentralized computing platform and cryptocurrency that launched as an alternative to the Ethereum network in 2016. Much like Ethereum, Ethereum Classic offers smart contract functionality and supports the deployment and use of decentralized applications .
More about Ethereum Classic
CoinGecko provides a fundamental analysis of the crypto market. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics. Hackers stole $50 million worth of funds and a split was performed as a way to return the stolen funds to their original owners. This resulted in a fork leading to the two versions co-existing. The newer network, or Ethereum, uses ETH or ether as its cryptocurrency while the older one, renamed Ethereum Classic, uses ETC. NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins.
We have coin market data from 24 Jul 2016, the lowest rate was on Jul 2016, 6 years ago it worthed $0.730. The Best year in which Ethereum Classic value increased the most was 2017 ETC value jumped from $1.41 to $47.77. The Worst year in which the price declined from $28 to $3.34 is 2018.
This, however, is $63.40 M short ofXMR, which is ranked 26 by etc price usd capitalisation. Ethereum classic price is consolidating against the US Dollar and Bitcoin. ETC/USD needs to settle above $12.20 in order to challenge the $12.80 resistance. Ethereum classic price is trading in a range above the $11.60 support area against the US Dollar. If you are planning to trade crypto, please consult a financial adviser.
Most CEXs also require KYC information these days, which is not ideal for people seeking privacy over their online activity. Despite these philosophical differences, Ethereum Classic and Ethereum work similarly. After all, Ethereum Classic is the original Ethereum blockchain. Cryptoassets are highly volatile and unregulated in some EU countries and the UK. Sign up for an account in minutes to buy crypto using credit card or bank transfer.
Instead, it focuses on maintaining the original properties of Ethereum’s blockchain, which its global community believes is more true to the spirit of Satoshi Nakamoto’s vision for Bitcoin. You can buy ETC from various reputed crypto exchanges, by paying in a fiat currency, or with other cryptocurrencies, through trading pairs like ETC/USDT, ETC/XRP, ETC/BTC and ETC/ADA. You can hold your ETC coins ETC and use them as a long-term store of value. It’s also possible to trade them against other crypto coins on popular exchanges.
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etc price usd Classic also maintains the Proof-of-work blockchain consensus model while Etherem moved to Proof-of-stake in the second phase of a three phase Merge which is expected to be completed sometime later in 2023. The percent change in trading volume for this asset compared to 1 hour ago. This is a statistical representation of the maximum market cap, assuming the maximum number of 210 Million ETC tokens are in circulation today.
ETC Market Information
Market cap is calculated by multiplying the asset’s circulating supply with its current price. The percent change in trading volume for this asset compared to 7 days ago. The percent change in trading volume for this asset compared to 24 hours ago. DropsTab is an independent market cap website and is not affiliated with any project or company. Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets.
However, the upside move is likely to face https://www.beaxy.com/ers near the $12.00 handle. Analysis was done on daily data, so all moving averages, RSI, etc.., were calculated on a daily Ethereum Classic price chart. To see more analysis and outlook please check the Ethereum Classic price prediction page.
- As a result, projects belonging to other networks will be able to offer support for and migrate easily to Ethereum Classic.
- If the price fall first major support level is sitting at $16.46.
- USDC’s normally stable price sank to 87 cents from $1 while Ethereum gas fees soared hours after the crypto-tied bank failed.
- Its blockchain is still account-based, comprising ‘contract accounts’ operated through a code , and ‘external accounts’ which are managed through private keys.
- As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.