ETC is the second-largest proof-of-work base layer in the world next just to Bitcoin. ETC is now trading at a 7-months high.
Ethereum Classic remains untampered ever since it was launched in 2015 – Right from its inception. All things ETC got sustained by the active participation of the community ranging from ECIPs, Development, Mining. Some speculators have invested in ETC, and yet others are those who have invested and are ready to wait until mass adoption to be done.
The price of ETC went up by 30% in just 24 hours. The hike is attributed by many to the 75X leverage on the Binance Futures Trading Platform. Ethereum Classic was not doing great, but recently the token flipped ADA and TRX, and many opine that this is just the beginning.
Donald McIntyre recently wrote about why ETC has a chance of rising a thousand times more than its current price.
Sydney Ifergan, the Crypto Expert, tweeted: “Sometimes it might take years for the results to show up, but when it does, it dominates and brightens up the entire space. Issues Apart, #Ethereumclassic might spark a grown of the sort with more work.”
On January 12, 2020, the Agharta activated on the Ethereum Classic Mainnet. The outreach improved due to excellent social layer coordination. The ETC holders are bullish than ever, and the community trusts in the native computing ability of the platform.
The market price of Ethereum Classic is trending at $9. The token is trading sideways concerning the Fibonacci level. If there will be a decline in the price trend, support is expected at $8.0; however, if the price decline continues further, it can do down and trend anywhere from $7.0 and $5 levels.
Agharta consists of several features from Ethereum Constantinople Fork. Thus, ETC is set to be completely compatible with Ethereum. Further, Binance provided ETC futures improving the hedge on the token. This move had the market explode, and the price at a point touched $11.82.
Some opine the move to be a pump and dump. ETC fork split from Ethereum Network, after an hacker stole $50 million, and the Agharta upgrade is considered to be a tool to re-establish the connections between the two.
Whatever be the reasons that fueled the price hike, the overall trends for ETC continues to be positive.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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