Ethereum Classic Price Prediction, will ETCs price hit $46 14?

The volatility of ETC means that its price may rise or fall quickly within a brief timeframe. Events 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.

• The DAO had a creation period where anyone was allowed to send Ether to a unique wallet address in exchange forDAO tokens within 1–100.
• It went on to record its all-time high of nearly $180 on May 6, 2021.
• The market cap of Ethereum Classic is equal to the number of ETC in circulation multiplied by the current price of Ethereum Classic.
• Ethereum Classic is committed to staying as a Proof of Work network, in pursuit of decentralization maximalism, quite unlike its sibling which is soon transitioning to Proof of Stake.

It is estimated that ETC will be traded between $251.20 and $298.29 in 2029. After the analysis of the prices of Ethereum Classic in previous years, it is assumed that in 2024, the minimum price of Ethereum Classic will be around $36.97. Crypto experts have analyzed Ethereum Classic prices in 2023, so they are ready to provide their estimated trading average for July 2023 — $24.15.

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ers stole $50 million worth of funds and a split was performed as a way to return the stolen funds to their original owners. The newer network, or Ethereum, uses ETH or ether as its cryptocurrency while the older one, renamed Ethereum Classic, uses ETC. 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. It involves buying or selling the token in hopes that it will increase or decrease in price, creating an opportunity to reverse the transaction and profit. Developers can use the network to create and execute smart contracts in the same way as on the main Ethereum network.

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. You can also participate in mining Ethereum Classic and generating ETC rewards by helping validate transactions on the blockchain. You can receive a portion of the reward in ETC coins for your efforts and grow your portfolio.

Ethereum vs Ethereum Classic: Comparison Of ETH And ETC

They argued that blockchains should be immutable, meaning that transactions cannot be reversed, upholding the «code is law» ethos. 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. The attacker exploited a flaw in The DAO’s code and made off with $50 million worth of ETH at the time. 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. 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.

• However, this will no longer be the case after all the available ETC is mined.
• ETC, the native coin of Ethereum Classic, is used to pay for using its computational resources.
• 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.
• Transfer the funds from your digital wallet and into your KuCoin trading account to use them.
• The price of Ethereum Classic depends on a wide variety of specific factors that help form its market value.
• A corrective phase followed and ETC coin was trading in the vicinity of $50 within a month.

Update with regards to NFT work, it is moving along, don’t give up on the space. If you are planning to trade crypto, please consult a financial adviser. Install the ‘Exchange’ application on Ledger Live, along with the applications for the coins you wish to swap. DEXs are ideal for investors who prefer privacy and ownership over their assets. However, there are still some loose ends on the security front when online wallets are used, as they may expose private keys resulting in thefts and frauds.

For some coins with little to no data points and inexistent historical data the model by default will show a positive price prediction. There is no way for our AI bot to decipher whitepaper, tokenomics and team integrity. The coin’s price that you are about to see below can fall drastically depending on many factors, so please invest wisely after checking the team and project’s whitepaper. This current price prediction is done by a machine crunching numbers and the model is still in the early beta stages. Although the best engineers are currently tweaking and updating the algorithm, no human has verified the price predicted below, so please use your discretion and make a decision wisely. 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.

Until December 2018, ETC price traded between lows of $9 and highs of $20, before sinking to $4 at the end of the year. The current circulating supply for Ethereum Classic is 139,797,976 ETC. In the last 24 hours, the price of Ethereum Classic has changed by 3.70%. To view the price of Ethereum Classic in the currency of your choice, select a base currency at the top of the page. To check Ethereum Classic’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page.

ETC Price Analysis

Once there are sufficient assets in the wallet, swapping is possible. Malicious actors trick users into revealing their private keys or attack systems with malware. Sign up for an account in minutes to buy crypto using credit card or bank transfer. The community is bullish as more than 68% of users are feeling good about Ethereum Classic today. 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.

https://www.beaxy.com/ Classic is an open-source decentralized computing platform and cryptocurrency that launched as an alternative to the Ethereum network in 2016. Much like Ethereum, Ethereum Classic offers smart contract functionality and supports the deployment and use of decentralized applications . ETH, the native digital asset of Ethereum, is the second-largest cryptocurrency by market cap among digital assets. The ETH price is also far higher than the Ethereum Classic price, while ETC enjoys a market cap that ranks it as the 28th largest crypto in the market as of June 2022. Consumers and businesses can conduct transactions and make payments using ETC coins. The cryptocurrency allows for a decentralized, highly secure digital transfer of payments with very low transaction fees.

How much will Ethereum Classic be worth 2025?

Charts Explore more data on the digital asset markets with comprehensive graphs. 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. Buy Bitcoin and other cryptocurrencies – the simple, safe, smart way. P roof-of-stake mining process, and numerous developers are still working on future network enhancements.

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.

Amid the resurgence of buying momentum in 2021, ETC’s price skyrocketed to an all-time high of $134. Please also note that data relating to the above-mentioned cryptocurrency presented here are based on third party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under Binance’s control. Binance is not responsible for the reliability and accuracy of such third-party sites and their contents. The launch of Ethereum Classic came after the 2016 Ethereum DAO hack, which resulted in a fork of the Ethereum blockchain.

Over the years, ETH has grown to become the biggest smart contract platform while ETC has struggled to keep pace. Nevertheless, the ETC crypto could still have value as a speculative digital asset, and could gain more utility if a larger number of projects decides to build on top of the Ethereum Classic platform. While Ethereum Classic is undoubtedly the XLM etc prices original blockchain, Ethereum is considered the most legitimate. The original founders and a majority of network participants voted and proceeded to create the hard fork, and the many successes of Ethereum justify the move.

It has limitations when it comes to scalability, and the network can only handle 15 transactions per second. Users can transfer values denominated in ETC on Ethereum Classic. Additionally, it can be used to pay for fees, particularly when executing smart contract-enabled applications or transferring Ethereum Classic-based tokens. In addition to the peer-to-peer transactions that Ethereum Classic enables, it also offers smart contract functionality. As such, it facilitates an ecosystem where users can either deploy or access decentralized applications and tokens.