Ethereum Classic ETC price, market cap $18 9925 Chart

The original Ethereum blockchain was split into two with Ethereum Classic being the original and Ethereum being the newer blockchain. Grow your crypto assets without lifting a finger – all on one secure platform. Exchange cryptocurrencies in seconds to get the most out of your assets. DEXs are ideal for investors who prefer privacy and ownership over their assets.

In the aftermath of the attack, 97% of the Ethereum community voted to create a hard fork to undo the malicious transactions and restore the blockchain to its pre-hack state. Ethereum Classic is a decentralized smart contract-enabled network that aims to become a global payment system. Originating from the Ethereum network, Ethereum Classic uses the proof-of-work consensus mechanism and supports decentralized applications. Ethereum Classic’s current share of the entire cryptocurrency market is 0.25%, with a market capitalization of $ 2.64 Billions.

Also known as https://www.beaxy.com/er, ETC is mined to generate rewards for nodes within the network that validate transactions in the blockchain. Unlike most cryptocurrencies, ETC did not emerge via a public sale or other means of crypto funding like an ICO. Instead, it was created due to a changing Ethereum landscape that birthed two independent blockchains.

How much Ethereum Classic is in circulation?

ETC has a lowest price of $0.4524, which was reached on Jul 25, 2016 . ETC has a highest price of $176.16, which was reached on May 06, 2021 . These are the project’s quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project. FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation. Most Secure Wallets LINK ethereum classic current price To Start With Check the analysis report on Top-rated Crypto Wallets that are safest for your funds. Exclusive Crypto Deal List of 2022 Get huge savings on the biggest crypto brands with custom discounts & deals.

Another main concern of ethereum classic current price Classic lies with its drawbacks in terms of scalability. On average, the network can manage 15 transactions per second, far less than centralized payment networks, such as Visa, or even other decentralized blockchain networks. 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. Sentiment analysis measures opinion data and categorizes it as positive, negative, or neutral. This technique studies the overall sentiment in the market, revealing how investors and traders feel about certain crypto.

June 2023: Ethereum Classic Price Forecast

The Total Supply is similar to stock market’s Outstanding Shares. Market Capitalization is the overall value of all coins/tokens that have been mined or issued until now and are in circulation . The emission reduction schedule of ETC initiates after 5 million blocks have been added to the blockchain. And since it takes roughly 2.5 years for 5 million blocks to be processed on Ethereum Classic, the subsequent block reward reduction will occur sometime in the third quarter of 2024. Essentially, ETC can be used by Ethereum Classic users to pay the gas price for conducting transactions on the network. It was created 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 Ethereum Classic coin is among the largest crypto assets by market cap and enjoys high trading volume and liquidity on exchanges worldwide. You can buy or sell ETC, trade it against other cryptocurrencies, or choose to hold it if you believe in the long-term potential of the Ethereum Classic platform. The current price of Ethereum Classic is –, with a 24-hour trading volume of –.

The Ethereum Classic network is secured with a proof-of-work algorithm, but as a minority chain, it has suffered regular attacks itself. 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. This enabled the hackers to execute false transactions and double spend tokens to exploit the blockchain.

Past performance is not necessarily an indicator of future results. 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.

Select ETC and the desired fiat that you would like to convert to view the estimated live conversion price. In March 2020, the second ETC reduction event slashed block reward by another 20% to 3.2 ETC. In April 2022, another 20% block reward slashing (from 3.2ETC to 2.56 ETC) was implemented. Based on the 5 million block emission schedule, the next reward reduction event will occur in 2024. The price of ETC has historically been heavily correlated to ETH price movements, according to OKX’s ETH and ETC charts.

If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. In the last 24 hours.ETC has a circulating supply of 139.8 M ETC and a max supply of 210.7 M ETC. The maximum token supply of Ethereum Classic is limited to 210,700,000 ETC. 138,063,286 ETC are in circulation at the time of writing. The total dollar value of all transactions for this XRP asset over the past 24 hours.

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 DAO was supposed to allow participants to pool capital and jointly decide on the projects they would invest in.

How much will Ethereum Classic be worth 2023?

When the Ethereum hard fork happened in July 2016, all investors who held ETH in their wallets were given the same amount of ETC coins for free. Its next noteworthy surge came during the crypto boom of 2018, when ETC price reached $43.76 on Jan. 13, 2018. However, it retraced to under $20 within a month and continued its fall further after a brief spike in February, trading well under $10 by Q3, 2018. The live price of Ethereum Classic is in constant flux, with frequent radical changes that can bring major gains or major losses.

• The balance between buying and selling activity will eventually form the price and define a market cycle as bearish or bullish.
• CryptoRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions.
• None of the content on Changelly, including the Ethereum Classic price forecast, is investment advice, nor is it a replacement of advice from a certified financial planner.
• Events like partnerships, adoption, and government regulations can also affect the price of ETC and are observed through the use of fundamental analysis.

The lack of these developments can also affect the price, usually pushing it downwards as sentiment around the project becomes negative. 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.

None of the content on Changelly, including the Ethereum Classic price forecast, is investment advice, nor is it a replacement of advice from a certified financial planner. Before deciding to buy Ethereum Classic, we recommend you to do your own research. Crypto analysts expect that at the end of summer 2023, the ETC price will be around $24.64. In August 2023, the Ethereum Classic cost may drop to a minimum of $23.84.

These are the project’s quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its official Twitter account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project. These are the project’s quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project. Ethereum Classic is the sister blockchain to Ethereum, as they both originate from the Ethereum blockchain initially launched in 2015.

The widely-recognized Ethereum blockchain launched by Vitalik Buterin and Gavin Wood in July 2015, raised $150 million through an Initial Coin Offering conducted by ‘The DAO’, in April 2016. However, a hacker stole $3.6 million three months later, by exploiting a bug in one of The DAO’s smart contracts. Ethereum Classic and Ethereum have the same basic functionality. Ethereum is the new blockchain created after the hard fork while Ethereum Classic is the original Ethereum blockchain. The two networks have different technical roadmaps and upgrades to Ethereum don’t affect Ethereum Classic. The demand for Ethereum Classic is closely related to the number of listings that ETC has on various exchanges, and is expressed through trading volumes.

How do Ethereum Classic price movements correlate with market trends? Check our comprehensive cryptocurrency price page for information at a glance. Deposit crypto to our exchange and trade with deep liquidity and low fees. Most Ethereum users moved on to the new hard fork, leaving Ethereum Classic with a significantly smaller community. According to CoinDesk’s historical price data, ETC’s price surged to a peak of $42 during the 2017 bull run, before crashing to a low of $3 during the crypto-wide bear market. Amid the resurgence of buying momentum in 2021, ETC’s price skyrocketed to an all-time high of $134.

The Ethereum Classic price statistics could enjoy support whenever the crypto market enjoys a strong bullish sentiment. 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. A few minutes after your trade goes through successfully, your trading account will be funded with the new Ethereum Classic coins you have purchased.

For September 2023, the forecasted average of Ethereum Classic is nearly $25.38. According to the technical analysis of Ethereum Classic prices expected in 2023, the minimum cost of Ethereum Classic will be $27.19. The ETC price action could trend higher as the Ethereum Classic ecosystem grows in the future and more dApp developers build and deploy their applications on it. This could increase the on-chain activity of the blockchain, drive the Ethereum Classic price higher, and make ETC more valuable to invest in and hold.