Ethereum Classic Price: ETC Live Price Chart & News

Such an upbeat mood not only sends the price of market leaders higher but increases investor confidence in buying altcoins such as ETC. Ethereum Classic is one of the oldest and largest cryptocurrencies by market cap and enjoys considerable attention from investors. Based on its past performance, it is an exciting crypto asset to trade if you wish to diversify your portfolio.

Its appeal was to those who disagreed with the response ethereum classic price took to the attack; however, this legacy network, over time, has gained a larger fan base with major investors. Prior to the launch of Ethereum Classic, developers released new cryptocurrencies through the processor of simply copying as well as modifying existing cryptocurrency software. Ethereum Classic, on the other hand, was created by people who simply didn’t want to upgrade to Ethereum ‘s new code. All values after Sun Jul 2016 this is the first day when we got ETC stock price data. However, Ethereum Classic differs significantly as it is incompatible with any ETH update.

Ethereum Classic Markets

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. After the DAO hack, it was split from the Ethereum blockchain in July 2016 via a hard fork. Events GAL like news, partnerships, new listings on exchanges, adoption by companies or users, upgrades and updates, and dev team activity can affect the price of ETC and other cryptos. The lack of these developments can also affect the price, usually pushing it downwards as sentiment around the project becomes negative. Sentiment analysis measures opinion data and categorizes it as positive, negative, or neutral.

This fixed supply means that ETC isn’t subject to inflation like fiat currencies and an increase in demand will drive up its price. 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.

What price did Ethereum Classic start at?

Reward amounts will be determined based on the type and relevance of the information provided. ⧫ 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.

It does not express the personal opinion of the author or service. Any investment or trading is risky, and past returns are not a guarantee of future returns. Extreme volatility in combination with other factors like ETC’s capped supply, exchange listings, and market trends affect the price of ETC on a daily basis, causing gains and losses. 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.

CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms. With the intervention by Ethereum’s team, the platform was able to return all of the stolen funds to their owners. ETC is the native cryptocurrency of Ethereum Classic, a blockchain project that was created in 2016 when Ethereum’s blockchain split into two separate chains following a disagreement among members of its community.

ethereum classic price at lows below $1 and highs above $40, Ethereum Classic price is another example of the high volatility dictating trends in the cryptocurrency market. Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results.

The creation of Ethereum Classic sparked debate within Ethereum’s development community, as it was developed in reaction to a massive DAO hack of the main Ethereum network. 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.

Ethereum Classic also maintains the Proof-of-work blockchain consensus model while Etherem moved to Proof-of-stake in the second phase of a three phase Merge which is expected to be completed sometime later in 2023. The percent change in trading volume for this asset compared to 24 hours ago. Head to the KuCoin Exchange for 24/7 live updates of ETC/USD prices and the ability to buy/sell crypto quickly. A few minutes after your trade goes through successfully, your trading account will be funded with the new Ethereum Classic coins you have purchased. You can choose to hold them on KuCoin, or you can transfer them to your external wallet for additional security.

As in Ethereum, one needs to pay gas fees for the execution of smart contract functions and coin transactions. This payment goes to miners who validate transactions, perform smart contract computations and add new blocks to the chain. Besides being a payment mechanism for blockchain transactions, ETC, owing to its deflationary nature, is also used as a store of value. In addition to the peer-to-peer transactions that Ethereum Classic enables, it also offers smart contract functionality.

It is estimated that ETC will be traded between $251.20 and $298.29 in 2029. 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. After the split, the Ethereum Classic decided to implement some core changes in the emission system of ETC as part of the plans to solidify its status as an independent blockchain. After reaching a consensus on implementing an ETC monetary policy, the development team launched the Gotham update in December 2017. Unlike most cryptocurrencies, ETC did not emerge via a public sale or other means of crypto funding like an ICO.

• Based on the 5 million block emission schedule, the next reward reduction event will occur in 2024.
• Additionally, it can be used to pay for fees, particularly when executing smart contract-enabled applications or transferring Ethereum Classic-based tokens.
• It cannot access any upgrade or change on the being implemented on Ethereum.
• Deposit crypto to our exchange and trade with deep liquidity and low fees.
• They argued that blockchains should be immutable, meaning that transactions cannot be reversed, upholding the “code is law” ethos.

Crypto experts have analyzed Ethereum Classic prices in 2023, so they are ready to provide their estimated trading average for July 2023 — $24.15. In the middle of the year 2023, the ETC price will be traded at $23.23 on average. June 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.

• It went on to record its all-time high of nearly $180 on May 6, 2021.
• As long as the community supports the open-source blockchain, it could grow.
• The Ethereum Classic blockchain has fallen victim to two 51% attacks where the hackers managed to take over control of the blockchain’s mining hash rate.
• The creators of Ethereum classic, when seen from this perspective, are the creators of the original Ethereum blockchain, which are Vitalik Buterin and Gavin Wood.

It was https://www.beaxy.com/ in 2016, due to a difference in ideological and technical opinion within the Ethereum community, which came as a result of the infamous DAO attack. The original Ethereum blockchain was split into two with Ethereum Classic being the original and Ethereum being the newer blockchain. Exchange cryptocurrencies in seconds to get the most out of your assets. The current Market Cap ranking of ETC is #26, with a live market cap of $2,759,560,499.49 USD. 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.

The percent change in trading volume for this asset compared to 7 days ago. The percent change in trading volume for this asset compared to 1 hour ago. As the continuation of the original Ethereum blockchain, Ethereum Classic remains committed to maintaining its original motto of providing a censorship-resistant platform for dApps. As long as the community supports the open-source blockchain, it could grow. However, it is unlikely that the Ethereum Classic ecosystem could ever compete with Ethereum, which remains the largest ecosystem hosting dApps.

Ethereum Classic continued this positive momentum, breaking the resistance at $40 and reaching a new high of $42. This metric can be used as a predictive indicator of the asset’s future market capitalization. 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 Ethereum Classic network has suffered multiple majority 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 attacker exploited a flaw in The DAO’s code and made off with $50 million worth of ETH at the time.

It’s also possible to trade them against other crypto coins on popular exchanges. ETC is used on the Ethereum Classic blockchain in a similar manner to ETH on the Ethereum network. ETC is used as a peer-to-peer payment token and to secure the Ethereum Classic blockchain.

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 DAO was supposed to allow participants to pool capital and jointly decide on the projects they would invest in. After the hard fork, the old Ethereum chain was supposed to be phased out but instead, those who disagreed with the fork kept the network alive.

The total dollar value of all transactions for this asset over the past 24 hours. Binance has the lowest transaction fee rate amongst all major trading platforms. The current price per unit of weight and currency will be displayed on the right. 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. The Enterprise Ethereum Alliance , which consists of JP Morgan, Credit Suisse, ING, Mastercard, Accenture, AMD, and more, also offers support.

AdvisorShares CEO Noah Hamman weighs in on bitcoin fundamentals amid recent macro headwinds. Plus, Ordinals Protocol Creator Casey Rodarmor shares his reaction regarding Yuga Labs’ latest bitcoin NFT collection. When the split first happened, everyone who held ether at the time received the exact same amount of ethereum classic in their wallets for free. For more information on digital asset risk see FINRA, SEC, and CFPB public advisories.

As such, it facilitates an ecosystem where users can either deploy or access decentralized applications and tokens. Although a vast majority voted for the hard fork, a few community members disagreed due to philosophical and ideological differences. They argued that blockchains should be immutable, meaning that transactions cannot be reversed, upholding the “code is law” ethos.