Sentiment analysis measures opinion data and categorizes it as positive, negative, or neutral. This technique studies the overall sentiment in the market, revealing how investors and traders feel about certain crypto. Sentiment can also affect the price of ETC and other cryptocurrencies. ETC price increased by over 130% in March 2017 and reached a new high at $3.15, followed by a series of further gains totaling 125%. From February 2017 to March 2017, trading volumes increased by more than five times, from 5 to 27 million. ETC price continued following positive trends throughout May as well, with 165% of gains and a new high price of $23, which was also the highest price in June.

As in https://www.beaxy.com/, 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 demand for Ethereum Classic is closely related to the number of listings that ETC has on various exchanges, and is expressed through trading volumes. The balance between buying and selling activity will eventually form the price and define a market cycle as bearish or bullish.

What is the daily trading volume of Ethereum Classic (ETC)?

Although Ethereum Classic has had software upgrades, its payment system scalability remains to be one of its most challenging struggles going forward, thus, its use cases remain limited. However, Ethereum Classic differs significantly as it is incompatible with any ETH update. It cannot access any upgrade or change on the being implemented on Ethereum. This is because the two split as a result of a hard fork, and, by definition, a hard fork is a backward-incompatible update. Since a new set of rules is implemented meaning that the new chain, and its users , are, in effect, cut off from the original chain. Ethereum Classic and Ethereum remain DOGE how much is ethereum classic worth similar in terms of their basic functionalities.

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 generate tokens and handles transaction in a similar manner to Bitcoin. However, it has the additional feature of handling smart contracts, and this enables Ethereum Classic to be used as a development platform. 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.

Contract Address

For example, developers can make use of the open-source code to develop and run decentralized applications and ERC-20 tokens can also be created for use on such applications. Hackers stole $50 million worth of funds and a split was performed as a way to return the stolen funds to their original owners. The newer network, or Ethereum, uses ETH or ether as its cryptocurrency while the older one, renamed Ethereum Classic, uses ETC. Analysis was done on daily data, so all moving averages, RSI, etc.., were calculated on a daily Ethereum Classic price chart.

CryptoRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions. If you’re looking for a set of practical and insightful crypto market information and data, we have the analytics tools to suit your business needs. As of Mar 08, The market capitalization of Ethereum Classic is $2.6 Billion, it's ranked as #24 this is when calculating mcap with circulating supply if with total supply market cap will be $ 4 Billion. Barry has been trading cryptos since 2017 and has been invested in issues that would put the blockchain industry on the right pedestal. Barry's research expertise cuts across blockchain as a disruptive technology, DeFis, NFTs, Web3, and reduction of energy consumption levels of cryptocurrency mining.

Its appeal was first to those who disagreed with Ethereum’s response, but the legacy network has since gained a wider fan base, which include major investors such as Barry Silbert, CEO of investment firm Grayscale. The Ethereum Classic to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next. If you are planning to trade crypto, please consult a financial adviser. Jul 23, 2016 was the day when the Ethereum Classic blockchain network had its very first block, approximately 6 years ago.

According to the technical analysis, banking on DeFi and platform being driven by Ethereum Classic blockchain has phenomenally carved a growth path for itself. ETC stays close to the head of the family, Ethereum, and hence has a bright future to grow exponentially. They faced a serious crisis, stuck together, and came up with a truly elegant solution. While fiat currencies are losing their sheen in the recessionary phase of world economies, cryptocurrencies gain momentum. The onset of cryptocurrencies marked a revolutionary era in the world of finance. The versatile range of cryptocurrencies offered a plethora of advantages to investors.

Is Ethereum Classic a good buy? Does Ethereum Classic have value?

Ethereum Classic’s price history can be analyzed with the same techniques used in the stock market. 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. 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. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. 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.

Ethereum Classic's current circulating supply is 139.79M ETC out of max supply of 210.70M ETC. The current yearly supply inflation rate is 4.78% meaning 6.38M ETC were created in the last year. In terms of market cap, Ethereum Classic is currently ranked #6 in the Proof-of-Work Coins sector and ranked #14 in the Layer 1 sector.

how much is ethereum classic worth who wish to work with the Ethereum Classic blockchain can access developer tools through the Ethereum Classic website. There are ongoing development projects surrounding the Ethereum Classic blockchain and efforts to develop financial applications on the platform. 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 minimum trading cost might be $20.89, while the maximum might reach $22.50 during this month. On average, it is expected that the value of Ethereum Classic might be around $21.89. 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.

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. Coinpaprika.com needs to review the security of your connection before proceeding. Ethereum Classic currently sits below all exponential moving averages.

However, this will no longer be the case after all the available ETC is mined. ETC is no exception to this rule, and it is important to understand how the Ethereum Classic price has moved in the past. Based on past average price bullish trend and historical data, we predict that the horizons are bright.

• If you would like to know where to buy Ethereum Classic at the current rate, the top cryptocurrency exchanges for trading in Ethereum Classic stock are currently Binance, OKX, Deepcoin, Bybit, and BingX.
• Get daily alerts on price changes of the top 10 cryptocurrencies.
• The corporate has planned big for the future, embarking on various partnerships and collaborations.
• The launch of Ethereum Classic came after the 2016 Ethereum DAO hack, which resulted in a fork of the Ethereum blockchain.

There are also specialists involved in the price analysis of rates and the execution of transactions online. The Ethereum Classic cryptocurrency prices are capable of generating tangible income, which attracts users ETC community has set higher benchmarks for itself notwithstanding. Price of Ethereum prediction shall surpass all cryptocurrency investors’ expectations who have found this platform extremely interactive and uncomplicated.