Ethereum Classic Price, Chart, Market Cap, ETC Coin Essentials

https://www.beaxy.com/ Classic has historically ranked significantly lower than ETH in terms of market capitalization. The ETC price has generally followed the market trends that were set up by ETH as the second-biggest cryptocurrency in the world. Ethereum Classic is considered to be among the longest-running smart contract platforms. It was launched in 2015 as the legacy Ethereum blockchain, and split in 2016, following a community dispute. Developers who wish to work with the Ethereum Classic blockchain can access developer tools through the Ethereum Classic website.

The other part of the Ethereum community maintained that immutability was a crucial aspect of blockchains, even though it might sometimes lead to undesirable outcomes. This camp opposed the idea of a hard fork being used to essentially alter the history of what happened on the Ethereum blockchain. This part of the Ethereum community supported the side of the hard fork that is known today as Ethereum Classic, with ETC as its native asset. The consequences of the DAO hack are still present on the Ethereum Classic blockchain. Ethereum Classic is one of the two crypto assets that emerged after a hard fork of the Ethereum network in 2016.

DAO Wars: Soft Fork Vote

There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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. Wall Street took notice when Ethereum started being accepted by crypto users on such a massive scale-often outperforming Bitcoin. Ethereum’s price topped $4,800 earlier last year, following the popularity of Decentralized Finance and the continuous expansion of the NFT sector. With permissionless lending and borrowing, DeFi has the potential to completely replace traditional financial practices. Not to mention, NFTs have drawn countless celebrities – including athletes, entertainers, and public figures – to the online world of crypto.

The project was so successful, in fact, that it attracted bad actors, including a hacker that compromised the network in 2016 and stole roughly $50 million worth of cryptocurrency. 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 LINK we know it today, with ETH as its native asset. 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. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

PoW ETH Fork Gathers Steam

Ethereum Classic’s price for 2025 according to our analysis should range between $26.73 to $40.09 and the average price of ETC should be around $33.41. Ethereum Classic’s price for 2024 according to our analysis should range between $20.72 to $31.08 and the average price of ETC should be around $25.90. Ethereum Classic’s price for 2023 according to our analysis should range between $30.76 to $46.14 and the average price of ETC should be around $38.45. Ethereum Classic’s price for December 2023 according to our analysis should range between $35.76 to $41.14 and the average price of ETC should be around $38.45.

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. Most Ethereum Classic projects today rely on Ethereum Classic price as a public blockchain, which grants access to a larger audience of users, network nodes, currency, and overall market. However, there are often reasons to prefer a private blockchain or consortium blockchain . No wonder this is an outcome of years-long thinking, strategizing, science, and technology- all combined together.

On the contrary, Crypto coins are powerful mainly because they are not regulated or, for that matter, dependent on any governing body. Therefore, they don’t come under the purview of any restrictive policies or provisions. Hence ETC fans advocate that this platform is entirely dependable, as good as raw cash. Working hard to change the world map of technology, the entire ecosystem of ETC ensures that participants benefit from Ethereum blockchain-enabled functional advantages. According to the technical analysis, most of the competitors of Ethereum Classic, too, did not mesmerize the traders either. However, ETC price consistency has tried to show in itself a unique feature to debate.

This guide is designed to teach you everything you need to know about the project and get you ready to jump into the most user-friendly trading experience available on the market. The reason is some software does not allow ETC considering it could harm your system. However, with some KYC in place and creating an exception in your anti-virus, you can smoothly sail in with ETC price. Ethereum Classic has swept a market cap of more than $7 Billion. The DAO’s splitting mechanism gives around a month for a solution to be found that recovers the funds; Foundation and community developers race to implement a soft fork.

Top Price Prediction

The coin’s price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project’s whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely.

It’s a direct cryptocurrency’s supply & demand indicator, and is purely related to its market price. Ethereum works in a very similar way to its predecessor, Bitcoin. It is an open-source blockchain network that handles smart contracts. These smart contracts are automated agreements between parties that are handled and protected by the encrypted security of the blockchain network.

How is Ethereum Classic used by cryptocurrency traders?

Once etc token price Classic price prediction runs fully on the PoS rails, miners will have two options. One is to sell the equipment and use that money to accumulate more ETC and start staking. Ethereum Classic price forecast team has evolved a system whereby all transactions are regularly monitored, and any minuscule suspicion is entirely eliminated to protect the data.

If you seek to place your assets in long-term investment, ETC may be a bad choice. ETC price history seems to show large increases either when the whole market is growing or when the market is most unstable. The ETC average price is expected to reach minimum and maximum prices of $55.85 and $63.97 respectively. As of now, Ethereum Classic price is $19.26 with Ethereum Classic market capitalization of $2,692,757,631.78.

People looking to enter the etc token price world through Ethereum should avoid investing in Ethereum Classic as it presents a riskier investment. Even though Ethereum Classic came first, the new Ethereum is the only profitable option because it has massive adoption along with strong retail and institutional investment. Trends frequently shift, but with ETC and ETH, the newer version is certain to remain dominant while the original continues to vanish into history. Both systems can easily perform around 12–15 transactions per second, and the amount of ETH gas fees paid determines how long it takes for a transaction to obtain Ether. Proof of Work – miners compete to solve a piece of data which is difficult to produce but easy for others to verify. However, technological upgrades are being done to ensure the same takes place soon.

Ethereum Classic trades use ETC as their symbol, while Ethereum trades use the ETH moniker. The currency that drives the Ethereum Virtual Machine and supercomputer network is “Ether,” which remains constant in both native cryptocurrencies. The split took place in July 2016, just after Bitcoin’s halving, and played a major role in catapulting cryptocurrencies to the attention of the public in 2017. The term “Classic” was added to the original Ethereum blockchain, which was replaced by the newly forked Ethereum through mutual agreement. The Ethereum Classic network is still in use today, despite not having nearly as much support or interest as the Ethereum blockchain since certain members of the community refused to give it up.

The asset has experienced many fluctuations over the years and can be considered volatile. Its value experienced a sudden increase in 2021, with the ETC price exceeding $175 in May. In June 2016, an anonymous paper was published that revealed a code vulnerability.

Cryptocurrency investors can capitalize on rapid upward or downward price movements by opening directional tradingl positions. All values after Sun Jul 2016 this is the first day when we got ETC stock price data. There are currently approx 71.5 M ETC coins left that aren’t in circulation yet. The maximum supply of Ethereum Classic is 210,700,000 (210.7 M). We have coin market data from 24 Jul 2016, the lowest rate was on Jul 2016, 6 years ago it worthed $0.730.

• BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency.
• Along with Ethereum transactions, ERC-20 tokens developed on the platform also require you to spend ETH, which keeps the asset in high demand as more tokens are created.
• To understand how Ethereum Classic works, you need to be familiar with smart contracts.
• 2025 might mark as the benchmark year as the ETC price is predicted to surpass $40 by all means.
• However, there are often reasons to prefer a private blockchain or consortium blockchain .