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Ethereum Classic Price: ETC Live Price Chart & News

Unlike Ethereum, which has no limit on coin supply, ETC has adopted a deflationary policy and capped the token supply at 210.7 million. On the same day the network deployed the Gotham update, the ETC emission reduction protocol implemented the first block reward slash. As a result, the block reward awarded to miners was reduced from 5 ETC to 4 ETC. Looks like Trading view killed some data for this chart we lost lost of content. So we are back to 0 We are right in hard resitance here, which matches the bear market unfortunately. The only hope is a strong rally by BTC to 26-30k Otherwise we will fade.

It has etc prices volume of 210,700,000 ETC coins and a max. Ethereum Classic’s long term Price Prediction below is a look at ETC’s future prospect with regards to price. Ethereum Classic was last seen at $18.87, with a market cap of $2,631,120,351 and trading volumes of $103,355,705. ETC’s price prediction is possible by analyzing historical price action, current developments and social sentiment from the community.

Ethereum Classic Performance

Also known as Ether, ETC is mined to generate rewards for nodes within the network that validate transactions in the blockchain. These attacks are what caused a hard fork of the Ethereum network and the creation of Ethereum Classic. In order to secure the network from such attacks, a new version of the Ethereum blockchain was developed. The old version persisted and is known today as Ethereum Classic. In each attack, millions of dollars worth of Ethereum Classic tokens have been stolen.

The etc prices Classic blockchain has fallen victim to two 51% attacks where the hackers managed to take over control of the blockchain’s mining hash rate. This enabled the hackers to execute false transactions and double spend tokens to exploit the blockchain. Because The DAO accounted for so much of the total Ethereum in circulation in 2016, there was a split in the community about how to fix the problem.

Ethereum Classic Price Prediction 2028

With a price of $19.74 USD today, Ethereum Classic is -78.74% below all time high. Ethereum Classic price is often subject to major price fluctuations, caused by a multitude of specific factors that influence the price and form trends in the market. 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 MATIC are observed through the use of fundamental analysis.

As the network recovers from the scandal surrounding the attacks, it may attract new software developers to create applications on its network. As a development platform, Ethereum Classic is still emerging as a network for developers of decentralized finance applications. In short, Ethereum Classic is valuable mostly due to its popularity and well-known history. 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. It is already established as a popular token, so it is still valued at a considerable price.

Ethereum Classic (ETC) supply

Ethereum Classic has a capped max supply, which means that no new coins will be minted once all of the supply is in circulation. This fixed supply means that ETC isn’t subject to inflation like fiat currencies and an increase in demand will drive up its price. Ethereum Classic traded at $0.98 when it was created and launched to the market in June 2016. Its price then touched an all-time low in July, dipping to $0.61. ETC price went on to increase by nearly 3000% after hitting its ATL. In August of the same year, Ethereum Classic price broke the psychological level of $1 for the first time and traded at $1.79.

The 51% attacks that have affected the Ethereum Classic crypto in the past have also contributed towards ETC’s second fiddle status. One part of the Ethereum community advocated for a hard fork in which the damage done by the DAO hacker would effectively be rolled back and erased from the blockchain’s history. This part of the Ethereum community backed the Ethereum chain as we know it today, with ETH as its native asset. However, like Ethereum, the Ethereum Classic blockchain offers more functionalities than Bitcoin, as users can access smart contract-enabled applications.

Why are you interested in Ethereum Classic?

In August 2020, the Ethereum Classic network fell victim to another 51% attack. After the DAO hack, it was split from the Ethereum blockchain in July 2016 via a hard fork. The market cap of Ethereum Classic is equal to the number of ETC in circulation multiplied by the current price of Ethereum Classic.

All values after Sun Jul 2016 this is the first day when we got ETC stock price data. 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 and use them as a long-term store of value.

Ethereum Classic Price History

Ethereum Classic is a public, open-source, decentralized blockchain-based computing platform that can execute smart contracts. It enjoys EVM compatibility and utilizes a proof of work consensus mechanism to secure its network. The current price of Ethereum Classic is –, with a 24-hour trading volume of –.

For starters, having launched in 2016, it’s one of the more established cryptocurrencies. For example, it has a relatively small market cap compared to other major cryptocurrencies, and it also lacks some of the features that made Ethereum so popular. Nevertheless, Ethereum Classic remains a viable option for investors and users who are looking for an alternative to Ethereum. Exchanges will halt deposits and withdrawals of the tokens during security incidents, and traders can buy and sell the token on different exchanges at different prices. This is a way to make a profit from trading Ethereum Classic without taking the risk of speculation.

A 51% attack is a way to compromise the control of token production by controlling 51% or more of mining activity through a single node or group of nodes. In the legacy version of Ethereum, attackers have been able to gain control of 51% of Ethereum network mining activity and steal large amounts of tokens. Smart contracts can be enforced through the decentralized network, so a third party does not need to be actively enforcing the contract. Typically, it is the legal framework of governments that uphold the agreements in a legal contract, but Ethereum uses the code of the blockchain itself in order to uphold the terms of the contract. After the 2016 split from the main Ethereum blockchain, ETC was largely separated from the space of decentralized finance applications that are tied to the Ethereum blockchain.

This means that Ethereum and Ethereum Classic are both cryptocurrency tokens, decentralized networks, and an underlying technology for developing decentralized applications. Most decentralized applications are built on the Ethereum blockchain, and Ethereum Classic has the same capabilities. It has been on the market since 2016 and is available across several cryptocurrency exchanges and platforms, including the top ones. In spite of its close ties with ETH, ETC’s price doesn’t necessarily show a lot of correlation with the price of ETH. Rather, the general crypto market conditions and specific events within the Ethereum Classic ecosystem influence the price.

• Having just locked in 10% with our Long trade on #ETC we’re looking at a small but well-worth-doing Short trade, expected returns of around 10%.
• Regulations of the cryptocurrency market also develop on a regular basis, and this has the potential to change Ethereum Classic’s level of operation in the future.
• The current version of Ethereum uses this newer blockchain, and Ethereum classic uses the old version.
• Its community lays great emphasis on two core principles – immutability and censorship resistance – with ‘Code is Law’ being the governance motto.
• Ethereum Classic’s price for 2027 according to our analysis should range between $44.48 to $66.72 and the average price of ETC should be around $55.60.

As with many other https://www.beaxy.com/ assets, Ethereum Classic price may experience major upswings often followed by major dips, depending on active market trends. Ethereum Classic’s price history can be analyzed with the same techniques used in the stock market. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics.

It has solid intrinsic value, however, its security vulnerabilities make it a very volatile asset. At first, it may seem pointless that a token with such an obvious drawback and a track record of security issues should even be on the market. No part of the content we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for you to rely on for any purpose. Any use or reliance on our content is solely at your own risk and discretion. AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

Its next noteworthy surge came during GMT the crypto boom of 2018, when ETC price reached $43.76 on Jan. 13, 2018. However, it retraced to under $20 within a month and continued its fall further after a brief spike in February, trading well under $10 by Q3, 2018. This metric can be used as a predictive indicator of the asset’s future market capitalization. The Ethereum Classic price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies.

• In the last 24 hours, the price of Ethereum Classic has changed by 3.70%.
• Moreover, on the daily time frame, a $13.24-support level was found under the $18.99-resistance level between June and July 2022.
• As per the Ethereum Classic price prediction undefined model above, ETC’s price for undefined should range between $undefined to $undefined with the average price for undefined being $undefined.
• The Ethereum blockchain as we know it today rolled back the chain and reverted it to its original unhacked status in July 2016.

How do Ethereum Classic price movements correlate with market trends? Check our comprehensive cryptocurrency price page for information at a glance. Market cap is measured by multiplying token price with the circulating supply of ETC tokens . Most Ethereum users moved on to the new hard fork, leaving Ethereum Classic with a significantly smaller community. According to CoinDesk’s historical price data, ETC’s price surged to a peak of $42 during the 2017 bull run, before crashing to a low of $3 during the crypto-wide bear market.