Ethereum Classic ETC live coin price, charts, markets & liquidity

This metric can be used as a predictive indicator of the https://www.beaxy.com/‘s future market capitalization. After the DAO hack, it was split from the Ethereum blockchain in July 2016 via a hard fork. 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. The new protocol retained the original name Ethereum because of the amount of community support for the fork. It functions on a brand new blockchain, and the vast majority of miners, users, and protocol from the previous version of Ethereum use this new version. ETH’s primary value is in its use case scenarios and community support.

It’s important to note that even though ethereum classic all time high will move to Proof-of-Stake, the Ethereum Classic project is committed to Proof-of-Work. ETC is no exception to this rule, and it is important to understand how the Ethereum Classic price has moved in the past. The price of Ethereum Classic depends on a wide variety of specific factors that help form its market value. Ethereum Classic has a capped max supply, which means that no new coins will be minted once all of the supply is in circulation. This fixed supply means that ETC isn’t subject to inflation like fiat currencies and an increase in demand will drive up its price. Circulating supply shows the number of coins or tokens that have been issued so far.

What is the all-time high for Ethereum Classic (ETC)?

Ethereum Classic price went through a rebound in April, recording 51% gains and a new monthly high at $22. Until December 2018, ETC price traded between lows of $9 and highs of $20, before sinking to $4 at the end of the year. Like Ethereum, Ethereum Classic makes it possible to issue ERC-20 standard tokens. Ethereum Classic, however, is incompatible with updates to the Ethereum network, such as the Ethereum Merge.

In the legacy version of Ethereum, attackers have been able to gain control of 51% of Ethereum network mining activity and steal large amounts of tokens. A flaw in Ethereum Classic’s code makes it very vulnerable to a specially engineered type of blockchain network attack called a 51% attack. Smart contracts can be enforced through the decentralized network, so a third party does not need to be actively enforcing the contract. Typically, it is the legal framework of governments that uphold the agreements in a legal contract, but Ethereum uses the code of the blockchain itself in order to uphold the terms of the contract.

ETC price live data

However, the developers of ETC have announced plans to open the token up to decentralized finance applications through a BNB platform called Wrapped ETC or WETC. WETC is a token built on the ChainBridge network that allows for the development of the DeFi applications. The circulating supply of Ethereum Classic increases gradually as new coins are released to reward miners.

Ethereum 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. The updates that have occurred to the ETH blockchain since the hard fork do not apply to ETC. For example, ETC has not implemented the EIP-1559 upgrade which introduced an automated fee distribution as well as fee burning. Furthermore, while ETH is planning to shift to the Proof-of-Stake consensus algorithm, Ethereum Classic will remain PoW. The cryptocurrency used by the Ethereum Classic ecosystem is specifically known as Ether.

Learn more about Ethereum Classic (ETC)

Fundamental analysis focuses on the wider economic state of the market, as well as dev team activity, new upgrades, updates, and the overall value of ETC utility. Events like partnerships, adoption, and government regulations can also affect the price of ETC and are observed through the use of fundamental analysis. January 2020 started bullishly with 157% of gains and ETC was able to climb to the price of $12 as its new high for the year until it reached the value of $13 in February. Ethereum Classic traded between $4 and $8 in March, and for the rest of the year, ETC would trade in the price range of $3 to $7 with frequent trend reversals. Ethereum Classic traded at $0.98 when it was created and launched to the market in June 2016. Its price then touched an all-time low in July, dipping to $0.61.

The DAO raised $150 million in ETH as an Ethereum-based venture fund in an Initial Coin Offering in April 2016. However, in June, an attacker exploited a bug in the DAO’s smart contracts and stole 3.6 million ETH. Two years after Ethereum’s launch there was a hack which caused a split in the community, often described as a ‘battle of ethics and ideology’. The victims were investors in a fund called the DAO , which was launched by the Ethereum community as a decentralized investment fund for smart contract projects. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics.

What is the price of Ethereum Classic?

Around 2 million ETH were staked when prices were in the range of $400 to $600. These stakers are some of the strongest Ethereum believers, according to Binance Research. Ethereum Classic differs from Ethereum in terms of its monetary policy, as described above, as well as in its commitment to the algorithm proof-of-work for securing its blockchain. Despite these philosophical differences, Ethereum Classic and Ethereum work similarly.

Over the past month, Ethereum Classic’s hashrate has increased by 62.04%, from 30.08 TH/s on August 6 to its all-time high on Sunday. Before buying or selling any cryptocurrency, it’s important to check financial regulations in your area surrounding the use of cryptocurrency. There are no special regulations specifically prohibiting Ethereum Classic.

The start of 2019 was bearish as well for Ethereum Classic with lows of around $3 in January. From February to May 2019, ETC price saw a more stable period of growth and managed to trade at over $8, reaching $9 in June as the new high for the year. By the end of 2019, ETC price had been through numerous changes caused in part by high volatility, trading between $8 and $3. It didn’t manage to regain $9 during that period and mostly traded at the lower end of $3 to $4. DOGE ethereum classic all time high In January 2018, Ethereum Classic price reached an all-time high at the value of $47, then dipped to $28 in the same month.

Yes, Ethereum Classic is legal to purchase and own anywhere where cryptocurrency is legal. Popular exchanges will automatically detect your location and adjust their availability according to your region’s financial regulations. As the network recovers from the scandal surrounding the attacks, it may attract new software developers to create applications on its network. As a development platform, Ethereum Classic is still emerging as a network for developers of decentralized finance applications. In short, Ethereum Classic is valuable mostly due to its popularity and well-known history. It is still connected to the “brand” of Ethereum which is highly respected and heavily invested in by major players in the new and traditional financial industries.

• Over the years, ETH has grown to become the biggest smart contract platform while ETC has struggled to keep pace.
• After hitting a new local high of $45, it bounced around the $40 level before losing its footing.
• This payment goes to miners who validate transactions, perform smart contract computations and add new blocks to the chain.
• Any investment or trading is risky, and past returns are not a guarantee of future returns.
• 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.

Ethereum Classic was the original version of Ethereum, prior to the DAO hack. While Ethereum Classic offers similar functionality to Ethereum, it uses a PoW consensus model and has no plans to switch to a proof-of-stake model like Ethereum did after the Merge. The percentage of Binance customers who increased or decreased their net position in BTC over the past 24 hours through trading. In the last 24 hours, the price of Ethereum Classic has changed by 3.54%. To view the price of Ethereum Classic in the currency of your choice, select a base currency at the top of the page.

They enable the development and programming of decentralized applications on the Ethereum Classic blockchain. Due to the availability of smart contracts on Ethereum Classic, it is possible to host tokens and build decentralized applications on the ETC blockchain. In other words, applications launched on Ethereum Classic can issue and manage their native tokens. This system is similar to what we have on the Ethereum blockchain. It aims to be the go-to platform for smart contract development which helps developers create unstoppable applications.

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. Currently, the most active and dominating exchanges for buying and selling Ethereum Classic are Binance, Kraken & Kucoin. Upon the launch of the newly split chain, Ethereum Classic was valued at around $2.