etherium classic price 2023 might also witness an increase in the Ethereum Classic value to $24.26. It is assumed that the price will not drop lower than $22.42 in June 2023. Crypto analysts have checked the price fluctuations of Ethereum Classic in 2023 and in previous years, so the average ETC rate they predict might be around $22.33 in May 2023. Get daily alerts on price changes of the top 10 cryptocurrencies.
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’s impossible to predict the future, but Ethereum Classic does have some things working in its favor.
ETC OHLC Data
On the chart, you can see that ETC broke it’s downtrend line and has retested it and now is basing outside of it. Reward amounts will be determined based on the type and relevance of the information provided. Register for an account on KuCoin using your email address if you are new to our platform. Remember to complete your KYC verification to unlock access to all our services and features. Select ETC and the desired fiat that you would like to convert to view the estimated live conversion price.
Yes, since Ethereum Classic is a Proof-of-Work blockchain, you can mine ETC coins using computers and specialized hardware including GPUs. The ETC price remained mostly below $10 for a little over two years, and showed some signs of revival only around February 2021, amid a market-wide bull run. It went on to record its all-time high of nearly $180 on May 6, 2021. A corrective phase followed and ETC coin was trading in the vicinity of $50 within a month. It stayed within the range of $40 to $70 for the remainder of the year, closing 2021 at a market value of $35.
Factors Influencing the Price of Ethereum Classic (ETC)
An evaluation of the ETH and ETC charts indicates that the latter has closely followed the price movement of the former. However, this could be attributed to the fact that ETH, the second largest cryptocurrency, often drives the entire crypto market. Unlike Ethereum, which does not have a supply limit, ETC supply is limited to 210.7 million tokens. This is because ETC has adopted a deflationary approach where the scarcity of tokens over time is expected to drive up ETC prices. In 2016, following the establishment of Ethereum’s smart contract functionality, a protocol named The DAO emerged as the first-ever decentralized autonomous organization.
The etherium classic price Classic network has suffered multiple majority LTC attacks or 51% attacks since its launch, which resulted in the creation of the Ethereum network from a hard fork in the first place. Meanwhile, Ethereum’s blockchain is considered one of the most secure ones in the market, having experienced no attacks to date. The experts in the field of cryptocurrency have analyzed the prices of Ethereum Classic and their fluctuations during the previous years. It is assumed that in 2026, the minimum ETC price might drop to $78.12, while its maximum can reach $96.58. The attacker exploited a flaw in The DAO’s code and made off with $50 million worth of ETH at the time. However, you need to be aware that Ethereum Classic is currently the underdog to Etheruem, so its future might not be as shiny.
Ethereum Classic (ETC)
The live price of ETC is 19.4 USD, representing a decrease of -8.00% in the past 7 days and -1.52% decrease in the past 24 hours. ⧫ Start mining by submitting your hashrate and receive Ethereum Classic crypto in your wallet. ⧫ Configure the mining software and link your ETC wallet address to it. This will ensure that the ETC rewards you earn are stored securely.
Cryptocurrencies Price Prediction: ApeCoin, Ethereum Classic & Ethereum — Asian Wrap 24 February – FXStreet
Cryptocurrencies Price Prediction: ApeCoin, Ethereum Classic & Ethereum — Asian Wrap 24 February.
Posted: Fri, 24 Feb 2023 08:00:00 GMT [source]
After all, Ethereum Classic is the original Ethereum blockchain. Because of the upgrades, Ethereum Classic’s supply is capped at 210.7 million and its block reward declines by 20 percent every 5 million blocks, or roughly every two and a half years. How to Complete Identity Verification Identity Verification or Know Your Customer standards are designed to protect your account against fraud, corruption, money laundering, and terrorist financing. Binance requires users to complete Identity Verification to increase their account security.
It is smart contract compatible and allows developers to build dApps on its network. The higher the demand the higher the price, while the value of Ethereum Classic would decrease in the case of negative sentiment, bearish market cycles, negative trends, and major market dips. The use of smart contracts is a major advantage of Ethereum Classic. However, ETC has to compete with the ambitious upgrades of Ethereum as its closest crypto peer in the sense of technology and blockchain architecture. Ethereum Classic was created as a hard fork of Ethereum in 2016 as the result of a hack on the Ethereum network in which DAO security was breached and 50 million dollars were stolen.
24 hr: -0.06%
Main Trend: UP????
Short Term Trend: DN????
Areas of Support
Hold Above: $20.20
???? Levels of interest
Longer Term : $32.67
Caution Below : $19.05
— Trader Fred (@DCA_Cryptoz) March 1, 2023
Thus, Ethereum Classic still runs as an account-based blockchain that consists of external accounts and contract accounts. The external accounts are controlled with a user’s private keys and can create and sign messages. On the other hand, contract accounts are managed by the contract code and used only to conduct transactions as a response to a message. They enable the development and programming of decentralized applications on the Ethereum Classic blockchain. It aims to be the go-to platform for smart contract development which helps developers create unstoppable applications. The live price of Ethereum Classic is $ 18.82 per (ETC / USD) today with a current market cap of $ 2.63B USD.
More about Ethereum Classic
The balance between buying and selling activity will eventually form the price and define a market cycle as bearish or bullish. 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.
Although https://www.beaxy.com/ and ETC initially shared several similarities, the two networks have grown far apart regarding technological features. 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. 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. Ethereum Classic and Ethereum remain similar in terms of their basic functionalities. 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.