Ethereum Classic Price Index – Real-time ETC rate
Ethereum Classic Price Live Performance Indicators
Ethereum Classic Price Summary
Ethereum Classic (ETC) is a hard fork of Ethereum (ETH), and it was launched in 2016. Similar to the main Ethereum network, Ethereum Classic also offers smart contract functionalities, allowing it to host and support decentralised applications.
The past year has been exceptional for the Ethereum Classic coin. It is one of the top 20 cryptocurrencies by market cap and performed excellently over the past few months. After trading below $20 for most of the bear market of 2018 and 2019, ETC reached a new all-time high of $167 per coin on 6th May, 2021. ETC was trading at $5 per coin at the start of 2021 but rallied to $167 by May, representing a nearly 2000% increase in value. Although it has dropped to the $50 sub-level, ETC is still up by over 900% year-to-date, making it one of the top performers amongst the leading cryptocurrencies.
ETC has been able to defend its price above the $40 level as the market embarked on a bearish trend over the past few months. This gives it a chance to attempt a new all-time high if the bulls regain control of the market and a rally ensues.
As an Ethereum Classic investor, it is highly recommended to stay updated with its price performance. By knowing how ETC is performing, you can make better investment and trading decisions regarding ETC.
Ethereum Classic Price History
Ethereum Classic was created as an Ethereum hard fork in 2016, and the two have similar functions. However, the roadmaps of the two cryptocurrencies have been diverging in recent years, as the Ethereum Classic community seeks to differentiate itself from Ethereum.
ETC is one of the top-performing cryptocurrencies in recent history. Since its launch in July 2016, the coin’s price has appreciated massively. ETC began trading at $0.615038 on 25th July 2016 and rose to above $1 soon. However, ETC’s rally truly kicked off in 2017, as the cryptocurrency market embarked on a bull run. It raced to a then all-time high price of $44 on 13th January, 2018.
This rally was followed by two years of the bear market, with prices crashing by over 70%. ETC traded below $10 for most of that period, and its lacklustre performance extended into 2020. Ethereum Classic’s price began to appreciate in 2021, where it raced to a new all-time high. ETC began 2021 trading above $5 and reached a new all-time high at $167 on 6th May, 2021, representing an over 2000% increase in value.
Like the other cryptocurrencies, ETC’s price has dipped over the past few months, and it is now down by 68% from its all-time high. However, at $53 per coin, ETC is still up by nearly 900% year-to-date. Since ETC was launched in 2016, it has delivered over 8,500% return on investment to the investors.
Ethereum Classic Price Prediction
Cryptocurrencies are highly volatile, and Ethereum Classic isn’t any different. The volatility is a huge asset for cryptocurrency traders as it presents them with numerous opportunities to make money. However, it also presents a certain level of risk. This is why we advise using risk management techniques when making probability-based predictions.
The Ethereum Classic network suffered multiple 51% attacks last year, losing millions of ETC coins in the process. Following these attacks, the community implemented the Thanos Upgrade a few months ago to mitigate further risks of 51% attacks. Since then, there has been no major upgrade on the Ethereum Classic network. Its performance could therefore be tied to the broader cryptocurrency market. A bull run could see ETC’s price rally and recapture its all-time high level. However, if the bearish sentiment continues, ETC might drop below the $40 mark.
Another factor that could affect ETC’s price in the coming months would be the adoption of the blockchain by DeFi protocols and applications. Ethereum Classic is also a smart contracts platform like Ethereum. However, it hasn’t had the success of Ethereum when it comes to attracting DeFi projects.
Expert Tip on the Price of ETC“ Ethereum Classic has been one of the top 20 cryptocurrencies by market cap for a long time. Its performance in 2021 has also been excellent. The mitigation of possible 51% attacks on the network has helped it perform excellently. To predict how ETC would perform for the remainder of 2021 and 2022, you should deploy fundamental and technical analyses. Fundamental analysis involves keeping up to date with Ethereum Classic news and following the network developers. The technical analysis involves using tools and indicators like the FIB levels, the RSI (Relative Strength Index) and the MACD line (Moving Average Convergence Divergence) to predict ETC’s price performance. ”- Hassan Maishera
About Ethereum Classic
Ethereum Classic is a hard fork of Ethereum that was created in 2016. ETC was forked from ETH after a disagreement within the community on the decision to reverse the transaction of a major hack that resulted in the theft of 3.6 million ETH. The Ethereum network sought to reverse the transaction while the Ethereum Classic community was against it as it protested the control of the decentralised autonomous organization (DAO) on the Ethereum network.
Since its launch, the Ethereum Classic blockchain has sought to differentiate itself from Ethereum. The roadmap of the two blockchains has been diverging since then. While Ethereum is migrating to a Proof of Stake protocol, the Ethereum Classic network intends to continue using the Proof of Work protocol. The Ethereum Classic developers continue to work on various features such as scaling solutions in a bid to make it an excellent smart contracts network.
Ethereum Classic Value Compared to Other Cryptocurrencies
Frequently Asked Questions
Ethereum Classic’s price is up by over 8,500% since it was launched in 2016. This makes it one of the best performing coins over the past five years.
Ethereum Classic is a fork of Ethereum, and the two share similar features. However, their roadmaps are diverging as each network takes on its identity. Ethereum is moving to a Proof of Stake protocol, while Ethereum Classic will stick with the Proof of Work protocol.
The Ethereum Classic development team has put in place some protocols to provide adequate security on the network. The implementation of the Thanos upgrade last year has helped mitigate 51% attacks on the blockchain.
No, it isn’t. Volatility is a huge part of the crypto market as it presents traders with numerous profitable opportunities. However, do your research by conducting proper fundamental and technical analyses of Ethereum Classic at each point to know if you should invest in it or not.
You can buy ETC from a wide range of crypto exchanges and brokerage platforms. However, we recommend using regulated platforms to buy and sell ETC coins.