Altcoins News
By Sydney TheCMO
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Ethereum Classic (ETC) has remained in the shadows as the lesser-known token from the Ethereum network compared to the more famous ETH which currently sits in the second spot in…
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To get a good understanding of what ETC is, think of it as a split timeline from the original blockchain.
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While ETH has gone on to hit historic highs above $4,000, ETC’s all-time high of 179.83 is miles lower.
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ETC traded as low as $5.59 in January 2021 before embarking on a parabolic rally which saw it soar to the aforementioned historic high in May.
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ETC may have derived some of its gains from the overall bullish performance of the crypto market earlier this year.
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Greyscale has increased its ETC holding five-fold so far this year, especially after the announcement of the upcoming Ethereum 2.0 launch.
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An increase in participation in the Ethereum Classic network will have a positive effect on price performance.
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The Ethereum 2.0 rollout’s impact on Ethereum Classic remains to be seen but the ongoing roadmap development with the help of IOHK may provide an additional push for ETC.
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Having multiple development teams is good for the network because it will favor a more inclusive community voting, thus eliminating the likelihood of ecosystem monopolization.
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