|All Time High:|
|Market Cap: |
|The price of #ETC today is $20.70 USD.|
The lowest ETC price for this period was $0, the highest was $20.70, and the exact current price of one ETC crypto coin is $20.69600.
The all-time high ETC coin price was $169.
Use our custom price calculator to see the hypothetical price of ETC with market cap of ETH or other crypto coins.
|The code for Ethereum Classic is #ETC. |
Ethereum Classic is 6.7 years old.
|The current market capitalization for Ethereum Classic is $2,898,591,677.|
Ethereum Classic is ranked #22 out of all coins, by market cap (and other factors).
|The trading volume is very large during the past 24 hours for #ETC.|
Today's 24-hour trading volume across all exchanges for Ethereum Classic is $147,416,224.
|The circulating supply of ETC is 140,055,660 coins, which is 66% of the maximum coin supply.|
|ETC is well integrated with many pairings with other cryptocurrencies and is listed on at least 74 crypto exchanges.|
View #ETC trading pairs and crypto exchanges that currently support #ETC purchase.
More Ethereum Classic (#ETC) News
|Biggest Movers: ETC up 12%, as SOL Nears 1-Month High
Ethereum classic rose by as much as 12% in today's session, as cryptocurrency markets rallied to start the weekend. The global market cap is trading over 3% higher at the time of writing, as investors continue to buy crypto following the recent banking crisis. Solana was also higher in today's session.Ethereum Classic (ETC)
Ethereum classic (ETC) rose by as much as 12% in today's session, as traders continued to pump cryptocurrencies.
Following a low of $19.14 on Friday, ETC/USD moved to a high of $22.46 to start the weekend.
The move came as ethereum classic rose back above a recent floor at $20.00, hitting its strongest point since February 22 in the process.
Looking at the chart, the rally also coincided with the 14-day relative strength index (RSI) breaking out of a ceiling at the 58.00 mark.
As of writing, the index is tracking at 60.22, which is its highest reading since February 2.
The next visible point of resistance appears to be a ceiling at 65.00, which could lead to ETC moving closer to the $25.00 mark.
In addition to ETC, solana (SOL) was also in the green to start the weeknd, with prices trading by as much as 9% higher.
SOL/USD rose to a peak of $22.54 earlier in today's session, after falling to a floor at $19.94 the day prior.
As a result of Saturday's surge solana has now moved to its strongest point since late-February.
Like with ETC, a catalyst for the move was a breakout which took place on the RSI indicator.
As of writing, the index is now...
|Biggest Movers: LTC, ETC 15% Higher, as Crypto Markets Rebound on Monday
Litecoin was back in the green on March 13, as cryptocurrency markets rebounded to start the week. The token rose by as much as 15% in today's session, with the global crypto market cap trading nearly 10% higher. Ethereum classic also moved significantly higher.Litecoin (LTC)
Litecoin (LTC) rose by as much as 15% to start the week, as cryptocurrency markets rebounded from recent losses.
LTC/USD surged to an intraday high of $79.53 earlier in today's session, less than 24 hours after hitting a low of $68.66.
The move saw litecoin climb to its strongest point since last Friday, when the token was at a peak of $84.92.
Looking at the chart, one catalyst of the move appears to be the 14-day relative strength index (RSI), which broke out of a recent resistance point.
As of writing, the index is tracking at 41.05, following a move beyond the aforementioned ceiling at 40.00.
Should momentum continue in this direction, there is a strong chance that LTC bulls will take price to a ceiling at $85.00.
Ethereum Classic (ETC)
In addition to LTC, ethereum classic (ETC) also rebounded from recent lows during Monday's session.
Following a low of $17.05 on Sunday, ETC/USD raced to a peak of $20.20 to start the week.
This high has also acted as a point of resistance in recent weeks, and since a collision earlier in the day, bullish momentum has marginally eased.
At the time of writing, ETC/USD is trading at $19.65, which is still nearly 15% higher than yesterday's bottom.
Overall, it appears ...
|Biggest Movers: ETC Remains Near 2-Month Low, LTC Down by 4% on Monday
Ethereum classic remained near a two-month low on March 6, as a cloud of uncertainty continued to hover over markets. The global crypto market cap remained bearish to start the week, and is down 0.55% at the time of writing. Litecoin also moved lower on Monday.Ethereum Classic (ETC)
Ethereum classic (ETC) started the week trading close to a two-month low, as volatility in crypto markets remained high.
ETC/USD slipped to an intraday low of $19.26 on Monday, a day after trading at a peak of $20.05.
The move has pushed ethereum classic towards Friday's bottom at $18.89, which was its weakest point since January 6.
Overall, today's drop has seen ETC fall for a fifth consecutive session, down by over 8% in that period.
Prices are marginally higher than earlier lows, which comes as the 14-day relative strength index (RSI) collided with a floor at 36.00
At the time of writing, the index is tracking at 36.19, with the next visible floor at the 30.00 mark, in the event of a breakout.
In addition to ethereum classic, litecoin (LTC) was another notable mover, as the token fell by as much as 4%.
Following a high of $91.27 on Sunday, LTC/USD dropped to a bottom at $87.15 during Monday's session.
As a result of this move, litecoin moved closer to a floor at $86.00, which was last hit on Friday, and also a six-week low.
Recent declines in LTC have come following a downward crossover of the 10-day (red), and 25-day (blue) moving averages.
In addition to this, the RSI is now...
|Ethereum Classic (ETC) Price Balloons To Nearly 30% In Last 7 Days
Ethereum Classic (ETC), a decentralized, open-source and blockchain-based cryptocurrency, might soon lose its current momentum that allowed it to become one of the top performing crypto assets for the past week.
A quick review at some data points for the digital asset reveals that it is currently trading at an overbought position which might cause buyers to be “exhausted” and unable to sustain a further rally, yielding technical advantage to the bears once again.
Moreover, the altcoin’s Bollinger Bands indicate that it is extremely volatile at the moment, making it susceptible to significant price swings that could happen in just a wink of an eye. This makes Ethereum Classic a more risky asset to trade or hold.
Ethereum Classic: A Quick Glance At Impressive Run
According to latest tracking from Coingecko, at the time of writing, ETC was changing hands at $19.82.
Although the crypto has declined by 2% over the last 24 hours, it is still enjoying a nearly 30% jump from its value seven days ago. Moreover, on a bi-weekly basis, the digital token tallied an upswing of 20.3%.
During the last few days, Ethereum Classic was among the few cryptocurrencies that managed to post double-digit gains within the previous week led by Solana which surged by an astonishing 35%.
As for the reason, some experts believe that the pivotal turnaround in the hash rate of the ETC towards the end of 2022 paved the way for miner profitability which, in turn, increased the number of t...
|Biggest Movers: ETC Surges 14% to Hit 6-Week High on Saturday
Ethereum classic was one of the biggest movers to start the weekend, as prices surged to a six-week high. The move saw the token climb by as much as 12%, breaking out of a key resistance level in the process. Polygon also moved higher, as it raced towards a recent price ceiling. Ethereum Classic (ETC)
Ethereum classic (ETC) rose to a six-week high on Saturday, as prices rallied by as much as 14%.
Following a low of $17.94 on Friday, ETC/USD raced to a peak of $20.68 earlier in today's session.
As a result of today's move, ETC broke out of a key resistance level of $20.00, hitting its highest point since November 26 in the process.
Looking at the chart, today's surge came as the 10-day (red) moving average crossed over its 25-day (blue) counterpart.
Recent rallies have also pushed the 14-day relative strength index (RSI) close to overbought territory, with the indicator tracking at its highest point since last August.
Earlier gains have already begun to fade, with previous bulls likely moving to take profit at the level.
Polygon (MATIC) was another notable gainer to start the weekend, with the token climbing for a second straight day.
MATIC/USD raced to a high of $0.8105, which is over 3% higher than Friday's low at the $0.774 mark.
Today's gain has pushed polygon closer to a key resistance level of $0.8200, which was last hit on December 27.
As can be seen from the chart, today's surge has also led to a collision with a ceiling on the RSI, with the index hi...
|Bitcoin Unable to Top $17K Yet, Ethereum Classic Pumps 5% (Market Watch)
Bitcoin tried its hand at taking down $17,000 but was stopped just shy of it.
Solana has taken a breather following the recent gains, while Ethereum Classic and NEAR Protocol have jumped by over 5% on a daily scale.
Bitcoin Stopped at $17K
After the calm end of 2022, bitcoin stood quiet at the start of the new year at around $16,500. The entire market volume was down, which was to be expected as it was on Sunday.
The landscape started to change on Monday when BTC began adding value. It first jumped to $16,700, which was a local high, and it continue towards $16,800 later on during the day.
The bulls stepped on the gas pedal in the next few days, ultimately pushing the primary cryptocurrency to just under $17,000 hours ago. This became bitcoin's highest price tag since December 20.
Nevertheless, the asset failed to overcome $17,000, at least for now and sits a few hundred dollars below that level. Its market cap is still well above $320 billion, but its dominance over the alts stands at 39.6%.
BTCUSD. Source: TradingView
ETC Takes the Stand
The past several days saw some notable price gainers from the altcoins led by Solana. SOL turned a new page following a few consecutive weeks of price drops and multi-month lows and skyrocketed by about 60% since Vitalik Buterin's positive words.
However, the former top-10 crypto asset has retraced now by almost 5% and trades at around $13.
OKB was another impressive performer but has also taken a slight hit and has dropped to way below $30...
|Ethereum Classic Hashrate Dumps Almost 50% In 3 Months, What About ETC?
Ethereum Classic saw its hashrate balloon when Ethereum finally moved to a proof of stake mechanism. The miners who were being kicked out of the network and could no longer use their machines had switched to others such as Ethereum Classic and Ravencoin to put their very specific machines to use. At the time, ETC’s hashrate had grown more than 200%, but now the network is seeing its hashrate fall once more.
Ethereum Classic Hashrate Down By Almost 50%
On Sep. 16, the mining hashrate of the Ethereum Classic network reached a new all-time high of 199.4 terahashes per second (TH/s) after climbing steadily for more than a week. With this growth had come more usage on the network, triggering staggering growth in its price.
However, as the Ethereum network has settled into its proof of stake (POS) consensus mechanism, the Ethereum Classic hashrate is correcting downwards. Hashrate is now down almost 50% in the last 3 months to be sitting at 109.3 TH/s on Dec. 22.
The decline can also be attributed to the bear market and the muted interest from investors. Since bitcoin’s price touched below $20,000, all of the cryptocurrencies in the space have seen a similar decline. Ravencoin, another proof of work network that got massive attention following Ethereum’s move to proof of stake, has also seen its hashrate plummet in the last 3 months.
Ravencoin’s hashrate now sits at 9.49 TH/s compared to its Sep. 22, 2022 peak of 17.59 TH/s. Meanwhile, other leading proof...
|Biggest Movers: ETC Moves Away From Multi-Month Lows, as XMR Extends Rec...
Ethereum classic rallied for a second straight session on Wednesday, following better-than-expected U.S. consumer confidence data. The figures showed that confidence among American consumers rose to the highest level in eight months, with a reading of 108.3. Monero was also higher on the news, as it extended recent gains.Ethereum Classic (ETC)
Ethereum classic (ETC) rose for a second straight day on Wednesday, as markets responded to better-than-expected U.S. consumer confidence data.
Today's figures, which were initially expected to come in at 101, came in higher than anticipated, with a reading of 108.3 in December.
As a result of today's data, ETC/USD raced to a peak of $16.64 earlier in the day, which is nearly 5% higher than Tuesday's low at $15.59.
Looking at the chart, the move came as price continued to move away from Monday's bottom of $14.74, which was the lowest point ETC had hit since July.
The surge coincided with the 14-day relative strength index (RSI) climbing from a floor of its own at 28.00, and it is currently tracking at 37.61.
The index now seems set to collide with a resistance at 41.00, which could mean that prices will begin to decline.
Monero (XMR) was another notable gainer in today's session, as prices surged for a fifth straight day.
Following a low of $146.31 on Tuesday, XMR/USD surged to an intraday high of $148.16 earlier in the day.
Wednesday's move now puts monero at its highest point since Friday, with the token closing in on a...
|Bitcoin Eyes $17K, Ethereum Classic Jumps 5% (Market Watch)
Bitcoin tried its hand at taking down $17,000 hours ago but was stopped in its tracks and now sits close by.
Most altcoins are with insignificant gains or losses, aside from ETC, which pumped by around 5% in a day.
Bitcoin Stopped at $17K
It was less than a week ago when the primary cryptocurrency was flying higher at over $18,000. However, the overall bearish market sentiment didn't allow the asset to continue further or even remain there.
BTC started retracing in the following days, losing over $1,000 at one point. This culminated in a drop to $16,300 registered yesterday, which became bitcoin's lowest price position since the end of November.
Nevertheless, the bulls stepped up at this point and reversed BTC's price trajectory. The asset bounced off rather quickly and added a few hundred dollars.
It even pumped to just over $17,000 earlier today. However, that was short-lived, and BTC returned below that level almost immediately, where it's currently situated as well.
Its market cap has remained around $325 billion, while its dominance over the altcoins is at an even 40% on CoinMarketCap.
BTCUSD. Source: TradingView
ETC Jumps the Most
Most alternative coins also felt similar volatile moves in the past week or so, but the past 24 hours have been completely different.
Ethereum managed to reclaim $1,200 yesterday following a brief dip below that line and currently sits just above it after a minor daily increase.
Binance Coin, OKB, Tron, and Litecoin have also charted gains of ...
|Coinbase Wallet Is Dropping Support For XRP, BCH, XLM And ETC
Users lose interest in some cryptocurrencies as negative news about them spreads in specialized and mainstream media. At least, that is what Coinbase thinks, as they will soon stop supporting some tokens with a lot of trajectory among crypto enthusiasts.
On November 23, Coinbase, the largest cryptocurrency exchange in the U.S., announced that its wallet will stop supporting XRP, BCH, XLM, and ETC due to poor customer usability.
Coinbase Cares About Usage, Not Tradition
According to Coinbase, January 23 will be the deadline for users to view and transfer their tokens to another wallet provider. They will then have to import their recovery phrases to the new wallet to use their assets.
The Coinbase Wallet comes preconfigured to work with the following networks: Arbitrum, Avalanche C-Chain, BNB Chain, Gnosis Chain, Fantom Opera, Optimism, Polygon, xDai, and Solana. In addition, it supports all Ethereum-compatible networks and the Ethereum Virtual Machine (PVM).
Formerly one of the top 3 cryptocurrencies in the ecosystem, XRP came to have a vast 'army' of fans dominating all of Crypto Twitter. However, Ripple's legal battle against the SEC has led most of its community to abandon their previous engagement. It currently sits on the seventh spot on the list of cryptocurrencies with the most market capitalization.
XRP was one of the most promising tokens in recent years due to its speed in processing payments, allowing up to 50,000 transactions per second worldwide, regardless of th...
|Solana Recovers Another 9%, Ethereum Classic Jumps 6% (Market Watch)
After yesterday's price jump, bitcoin kept climbing and came close to $17,000 but was stopped ahead of it, at least for now.
Most altcoins have also calmed following yesterday's madness, but Solana and Ethereum Classic have charted notable gains again.
SOL and ETC Lead the Way
CryptoPotato reported the substantial volatility yesterday, resulting in numerous altcoins marking double-digit price increases. Somewhat expectedly, the landscape is significantly calmer today.
Ethereum went from under $1,100 to almost $1,200. Another 3% daily rise in the past 24 hours has now pushed the second-largest cryptocurrency above that line.
Binance Coin, Ripple, Cardano, Dogecoin, Polkadot, and Shiba Inu are with minor gains now. Although LTC is also slightly in the green now, it was among the best performers yesterday, and here are some of the possible reasons behind that rally.
Today's top gainers are Solana and Ethereum Classic from the larger-cap alts. SOL is up by over 9% and trades north of $14. It's worth noting that Solana's native token has been among the poorest performers since the FTX-Alameda saga began earlier this month. ETC, on the other hand, has jumped by 6% and has reclaimed $20.
With most lower- and mid-cap alts trading sideways today, the overall crypto market cap has remained relatively still at $835 billion on CoinMarketCap.
Cryptocurrency Market Overview. Source: Quantify Crypto
Bitcoin Eyed $17K
The primary cryptocurrency had fallen hard earlier this week, charting a t...
|Ethereum Classic (ETC) Sees Over 7% Gains Amidst Crypto Market Recovery
Ethereum Classic (ETC) is currently trading at $19.65, an increase from its previous price. The crypto, presently ranked at number 23 on CoinMarketCap, shows signs of life. The 24-hour trading volume of the token stands at $332,995,651.
The 24-hour low of ETC stands at $18.20, while the high was at $20.15. The market capitalization of Ethereum Classic also gained above 8% and is currently valued at $2,704,849,374.
The crypto market, in general, has been on a downward trend. This week has been more positive, with some tokens rallying positively.
Traders are still uncertain about the actual direction of the market and if support levels will finally outperform resistance. Institutional traders are increasing their crypto holdings with the long term in view.
Currently, trust in cryptocurrencies hit an all-time low with the unraveling of FTX. However, some traders are consolidating positions and buying the dip.
What Is Boosting The Price Of Ethereum Classic Amid A Possible Market Rally? Macroeconomic factors are mostly responsible for the price movement noted in cryptocurrencies. Ethereum Classic is rising due to traders' optimism about the token's value.
Built from an Ethereum hard fork, the wide adoption of the parent blockchain has also helped the project. However, Ethereum itself is currently undergoing a bearish phase. The proof of stake migration has not significantly impacted the price of ETH, since it has continued to dip.
Ethereum Classic, on the other hand, ...
|ETC Price And Social Dominance Figures Down In Last 7 Days – What'...
Similarly to Bitcoin and other altcoins, ETC (Ethereum Classic) has been severely impacted by the FTX liquidity crisis.
CoinGecko data show that the historical performance of the coin on the daily, weekly, biweekly, and monthly time frames is not promising for the ETH fork.
The most noticeable depreciation among these was recorded for the bi-weekly time scale, at a rate of 16.7 percent. If other measures continue to lag, what does the future hold for ETC?
ETC Stepping On Green
The token has gained 19.35% so far today. While $18.255 provides temporary support for bulls, the regression channel indicates a much stronger slump and so the bulls should not bank on it.
At the moment, the highest the price of the coin may go is $22.595, the level where buyers and sellers met during the decline from October 29 to November 3. This ceiling will begin to give way in the coming days as the coin's relative strength index (RSI) rebounds.
Since the price of ETC is highly correlated with the price of ETH, traders and investors in the former should keep an eye on the price of ETH as well.
This indicates that the price of ETC will closely track that of ETH. There is an indication of a surge in the price of Ether from the $1,099.17 area, where it had been trading at the time of writing, although at the rate the broader crypto market is going, any decent spike may not come soon.
In addition to relying on the rising RSI readings, bulls should also consider the positive ...
|Ethereum Classic Flashes Bullish Signs As Volume Rises; Will $32 be brea...
ETC's price shows strength as it bounces from a downtrend range with high volume, aiming for a rally to $30. ETC faces a major test to trend higher above $30 after the price broke out of its descending triangle price movement. ETC's price remains strong below the 50 and 200 Exponential Moving Averages (EMA) as it attempts to rally past these regions. Ethereum Classic (ETC) has remained strong after breaking out of its downtrend descending triangle with good volume, with the price aiming to rally to $30. The cryptocurrency market has appeared more stable this week, with significant price movements in Bitcoin (BTC) and Ethereum (ETH). This new relief rally in the cryptocurrency market has benefited smaller coins like Ethereum Classic (ETC), which has shown real strength in breaking out of its long downtrend movement. (Data from Binance)
Ethereum Classic (ETC) Price Analysis On The Weekly Chart
Although many altcoins have struggled to trend in a range market, the price of ETC has seen more of a downtrend move despite showing some price movement to the upside, which was short-lived as the price was rejected.
ETC fell from an all-time high of more than $180 to a region of $41 before rallying to a high of $75; the price of ETC faced further rejection to a range low of $46, where it formed weak Support to hold sell-offs, but this proved futile as price continued to fall.
The price of ETC fell to a weekly low of $24 and immediately bounced, forming a price range in an attempt to bre...
|Ethereum Classic (ETC) Price Muffled In Last 2 Months – Will 'Upto...
There was a 5% loss in value for ETC over the past day. The Ethereum Classic coin has continued its fall on longer time frames since the July spike.
Ethereum Classic bears were unable to withstand the selling pressure after the fork attempted to maintain a price above the $27 support line.
As of this writing, ETC is trading at $23.08, down 16 percent in the last seven days, data by Coingecko show, Saturday.
Although Proof-of-Stake has rendered Ethereum's mining obsolete, renewed interest in the coin has resulted from the Merge. The day the Merge was made public, the hashrate increased as a result.
However, ETC's long-term prospects remain bleak as weekly, biweekly, and monthly time periods are all in the red.
The present value of 0.80 between Ethereum and its hard fork indicates that Ethereum Classic will enthusiastically follow wherever ETH goes. The data points to a positive expansion.
Ethereum Classic: Technical Analysis
From September 19 to now, ETC has fluctuated in price between $20.73 and $31.13. The coin's current moving average (CMF) is currently -0.09, which indicates that bears are gaining dominance.
Nonetheless, the Stoch RSI is in the oversold region, which represents an excellent buying opportunity for investors and traders.
The increasing ascent of the bull-bear power indicator suggests a likely trend reversal. However, the Bollinger band's central line is exerting greater downward pressure on the coin.
The 20-day to 100-day exponential moving averag...
|Biggest Movers: ETC, NEAR at 3-Month Lows on Tuesday
Ethereum classic remained close to a three-month low in today's session, as the token continued to extend recent declines. The token is now trading almost 15% lower in the last seven days. Near protocol was also lower, with it also falling to its lowest point since July.Ethereum Classic (ETC)
Ethereum classic (ETC) continued to trade close to a three-month low on Tuesday, after hitting this mark to start the week.
Yesterday, the token hit a three-month low of $23.10, and 24 hours later, prices remain near this point.
Following a move to a high of $24.31 earlier today, ETC/USD once again moved lower, dropping to a bottom of $23.73 in the process.
This week's low saw ETC move below a key floor of $23.20, which has been in place since mid-July.
In addition to price, the 14-day relative strength index (RSI) has also hit a multi-month low following the bear run.
For traders looking to buy the dip, this is potentially a positive sign, as we are firmly in bearish territory, and could eventually see bulls choose to reenter the market at this point.
Near Protocol (NEAR)
Near protocol (NEAR) was another notable mover on Tuesday, as the token also hit a three-month low.
Following a high of $3.54 to start the week, NEAR/USD slipped, dropping to an intraday low of $3.12 earlier today.
This sell-off pushed the token to its lowest point since July 13, which is the last time prices were trading at a support of $3.00.
Looking at the chart, the RSI is now also oversold, and is currently tra...
|Ethereum Classic (ETC) Sheds 30% In Last 2 Weeks – More Pain Ahead...
Ethereum Classic (ETC) has been in the clutch of the bears as it has shaved off as much as 30% in the past two weeks.
Ethereum Classic price down 30% in the past two weeks
ETC trading at $27.69 as of press time
ETC’s downturn opens up opportunities for short-term positions
ETC has dropped below the $33.9 zone barely two weeks ago and it seems Bitcoin is suffering the same fate as it failed to barrel past the key resistance of $19.7k. The selling pressure has been intermittently high in the crypto market.
Coming from the larger Ethereum, ETC is predominantly viewed as secure as it is designed to alleviate key problems encountered with the larger or main token Ethereum, especially in line with amplifying speed and lowering fees.
In fact, Ethereum Classic has evolved to be one of the most trusted and largest smart contract platforms as it is dubbed to be a valuable long-term investment to beef up and diversify one’s portfolio.
Ethereum Classic Price Seeing Bearish Pressure
According to CoinMarketCap, ETC price has plunged by 1.01% or trading at $27.69 as of press time.
At this point, a bearish block is seen close to the $30 level. A climb by 8% will prove to invalidate the bearish outlook of ETC.
Traders should wait awhile for a price jump before entering any short position at the $27 to $29 range, which is considerably near $30.54, the key support zone.
Judging by the daily and 12-hour timeframe, ETC is looking pred...
|Ethereum Classic Hashrate Slides 46% Since The Merge, PoW ETH Forks Gath...
The day of The Merge, Ethereum Classic's hashrate soared to new highs tapping 306 terahash per second (TH/s) ten days ago on September 15. Since then, however, Ethereum Classic's computational power has dropped 46.16% lower from the high to today's 164.75 TH/s. Furthermore, ethereum classic's market valuation has dropped by two positions and lost 26.7% against the U.S. dollar during the last two weeks.Ethereum Classic's Hashrate and Price Sinks, While the 2 New PoW Ethereum Forks Jump Higher in USD Value
After Ethereum transitioned from proof-of-work (PoW) to proof-of-stake (PoS) the lion's share of Ethereum's hashrate moved over to the Ethereum Classic (ETC) network. Data from 2miners.com shows ETC's hashrate jumped to an all-time high on September 15, 2022, the day of The Merge.
That day, ETC's computational power reached 306 TH/s after climbing 482.85% higher than the 52.5 TH/s recorded on September 12. Six days beforehand, ETC's price tapped a high of $41.80 per unit on September 6. Both ETC's USD value and computational power are down today after reaching record highs just prior to The Merge.
Today, data indicates that ETC's overall hashrate is 164.75 TH/s, which is 46.16% lower than the all-time high recorded on September 15. On that day, ten days ago, the new ETHW network had not yet launched but when it did, ETHW gathered 79.42 TH/s in computational power.
ETHW's hashpower has dropped, however, down to 45.97 TH/s according to metrics recorded by 2miners.com. While it...
|PoW Tokens Take A Hit: Ravencoin and Ethereum Classic Crash Over 20%
Ravencoin (RVN) and Ethereum Classic (ETC) were operated as a safe haven for miners seeking shelter from “The Merge” fallout. The event that completed Ethereum’s transition to Proof-of-Stake (PoS), “The Merge” locked out miners from the ecosystem.
Leading into the event, Ravencoin, Ethereum Classic, and other Proof-of-Work (PoW) cryptocurrencies were recording double-digit gains. The new participants onboarding the networks drove their hashrate to new highs, and their price followed as demand for PoW tokens followed.
However, as more miners flocked into these networks, it became more difficult to obtain rewards. In that sense, and with “The Merge” out of the way, miners might be seeking new alternatives to carry on with their operations and maximize their gains.
At the time of writing, Ravecoin and Ethereum Classic traded at $0.03 and $28, respectively. The cryptocurrencies record a 30% loss for RVN and a 22% loss for ETC over the past week. The tokens gave back a large portion of the gains obtained in previous weeks.
RVN's price is trending to the downside on the 4-hour chart. Source: RVNUSDT Tradingview
Ravencoin (RVN) And Ethereum Classic (ETC) Might Be Losing Market Share
As the price of Ravencoin and Ethereum Classic trend to the downside, their hashrate trend lower which hinted at the current bearish price action. Miners that were prompting the value of these cryptocurrencies seem to be existing or diversifying their participat...
|Biggest Movers: ETC, UNI Slip to 2-Month Lows on Monday
Ethereum classic fell to a two-month low to start the week, as prices in the cryptocurrency market continue to decline. Uniswap also slipped to a multi-month low on Monday, as the token hit its weakest level since July. As of writing, the global crypto market cap is down 5.08%Ethereum Classic (ETC)
Ethereum classic (ETC) was one of the most notable movers on Monday, as the token fell by over 12% to start the week.
Following a high of $33.41 during the weekend, ETC/USD slipped to an intraday low of $27.91 earlier today.
The drop comes less than a week after ethereum classic was trading above $40.00, ahead of last Wednesday's Merge.
Monday's drop sees ETC move to its lowest point since July 27, when the token was trading near $24.00.
As of writing, earlier price declines have eased, with ETC now back above the $30.00 mark.
After a brief breakout, the 14-day relative strength index (RSI) is also tracking marginally above a support of its own at 40.95.
Like ethereum classic, UNI was also in the red to start the week, as the token moved closer to a multi-month low.
On Monday, UNI/USD found itself trading below a support point of $5.50, with prices falling to as low as $5.42.
Similar to ETC, this is the lowest level UNI has hit since July, however in this instance the bottom occurred on July 11.
Looking at the chart, the sell-off led to the RSI hitting a floor of 36.15, with bears using this as a signal to secure previous gains.
Currently UNI is trading higher, wit...
|Ethereum Classic Hash Rate Skyrockets 80% to ATH After ETH Merge
The most-anticipated event in the cryptocurrency industry this year took place earlier today, confirming Ethereum's transition from PoW to PoS.
While the effects for the second-largest blockchain will be unveiled gradually in time, Ethereum Classic seems to be benefiting the most for now.
CryptoPotato reported earlier today when the Ethereum mainnet finally merged with the PoS Beacon Chain, solidifying the network's transition to proof-of-stake.
Although this was a highly-anticipated and talked-about event, it will take time until the community sees its effects in terms of scaling, security, and decentralization.
The immediate impact, though, belongs to Ethereum Classic. As former Ethereum miners are no longer able to operate on the blockchain, they seem to be migrating to the PoW fork version.
This is evident from the surging ETC hash rate. The metric skyrocketed by over 80% in a matter of 24 hours and tapped an all-time high of over 111 Thash/s.
Ethereum Classic Hash Rate. Source: BitInfoCharts
The native cryptocurrency, on the other hand, went through quite a volatile trading day. In the hours ahead of the Merge, ETC stood close to $40, touched that level, and then dumped to $35.
It went on the offensive again, retapping $40, and now stands inches away from that level. ETH has been more stable, predominantly trading around $1,600.
The post Ethereum Classic Hash Rate Skyrockets 80% to ATH After ETH Merge appeared first on CryptoPotato.
|Biggest Movers: ETC Trading Below $40.00 Ahead of Thursday's Merge Event
Ethereum classic rebounded on Wednesday, following three consecutive days of declines. The token dropped below $40.00 earlier this week, and continues to trade below this level ahead of tomorrow's merge event. On the other hand, Solana remained lower, with prices falling by over 8% today.Ethereum Classic (ETC)
Ethereum classic (ETC) rebounded on Wednesday, following three straight days of lower lows.
Less than 24 hours before the start of The Merge, the token was marginally higher, bouncing from a key support point in the process.
In the aftermath of the three-day losing streak, ETC/USD fell to a floor of $35.10 on Tuesday. However, bulls resisted a breakout, instead pushing prices to a peak of $37.57.
Looking at the chart, today's rebound also coincided with the 14-day relative strength index (RSI) bouncing from a support point of its own.
The RSI climbed from its floor of 48.10, and as of writing, is now tracking at 52.61, which is below a ceiling of 56.30.
Should bulls look to reenter the $40.00 region, the RSI will need to move beyond the upcoming resistance level.
A day after trading at a three-week high, solana (SOL) also remained below $40.00 during today's session.
Following a high of $39.00 on Tuesday, SOL/USD hit an intraday low of $32.87 on Wednesday.
This drop sees a seven-day winning streak snapped, with prices now trading close to a one-week low.
Wednesday's drop sees SOL move close to its long-term support point of $32.70, which has historically...
|No GPU Mining After the Ethereum Merge? Fork Token or ETC to Mine?
According to Watcher Guru, we are only 12,554 away from the Ethereum Merge, which is expected to happen at 1:09 on September 15 (CST). By then, Ethereum will have transitioned to PoS, a major blow to PoW miners in the network. The Merge will force PoW miners that operate the $19 billion mining business to find alternatives.
Recent data shows that Ethereum miners are fleeing from the network. Right now, the average computing power of the whole Ethereum network stands at 854 TH/s. Trending downwards during the past week, the figure has dropped by about 19% from the peak in May. Ethereum’s massive PoW hashrate is of great significance to the entire crypto mining industry, and the ETH hashrate will shift to other PoW coins once Ethereum shifts to PoS, which may reshape the whole mining sector.
Facing the impending transformation of the mining sector, Ethereum miners might exclude themselves from the shift to PoS by the Ethereum community to protect their own interests. From this perspective, PoW miners on Ethereum might root for a hard fork to preserve the existing PoW chain and generate a new coin. However, such a fork coin can be problematic in terms of risks and security. If Ethereum is forked, projects within today’s largest crypto ecosystem will have to make a choice. Meanwhile, multiple mainstream projects, covering the two stablecoin issuers Tether (USDT) and Circle (USDC), the oracle ChainLink, and the on-chain lending pr...
|Ethereum Classic (ETC) Leads Weekly Gains Amidst Crypto Market Reversal
The overall crypto market shows signs of price reversal from the downtrend, boosting investors’ confidence. To start with, the week started well for BTC as the market saw its price above $22K.
Bitcoin had traded below the $20K price mark until the close of the market on September 9, when it hit $21,381.15. Bitcoin price has added by 3.32% at the time of writing and now stands at $22,342.67. Other cryptos with commendable increases in 24 hours include Golem GLM with 52.43%, NEAR with 10.10%, Solana with 8.84%, Ravencoin RVN with 6.42%, and AVAX with 5.52%.
Uniswap, Quant, eCash, AAVE, BTC, GRT, and others have gained between 3 to 5% in the past 24 hours. But what about the weekly price gains? How are the cryptos comparing in their seven days price growth?
ETC Leads Others in Weekly Gains
Currently, the ETC price stands at $38.68, indicating a 0.22% increase in 24 hours. While this daily price increase is seemingly lower than others ETC has taken the lead in weekly increases. Its seven days growth surpassed many cryptos in the market.
ETC recorded a 20.47% growth in the past seven days, while others still struggle to add value. For instance, Bitcoin added 3.36% in the last 24 hours, but its weekly price increase is still at 13.13%. Ethereum has gained nothing in 24 hours. Instead, it lost 0.18% today, September 12, even though the slated merge date is fast approaching. But there's still hope since ETH's price is $1,744.66, and its weekly gain...
|ETC Group Says It Will List an Exchange-Traded Product Based on Anticipa...
Digital asset-backed securities provider the Etc Group has said it will list an exchange-traded product (ETP) based on an anticipated hard fork of the Ethereum blockchain on September 15. Current holders of Etc Group's ethereum ETP (ZETH) will be issued with 'units of the new security free of charge on a 1:1 unit basis.' Ethereum Hard Fork
The Etc Group, a provider of institutional-grade digital asset-backed securities, has said it will list a new exchange-traded product (ETP) based on a hard fork of the Ethereum blockchain that is likely to occur after the so-called 'Merge.' According to a statement issued by the securities provider, the ETP will be listed on the German exchange Xetra on September 16, a day after the forking event.
As outlined in the securities provider's statement, holders of Etc Group's current ethereum ETP (ZETH) will be issued with 'units of the new security free of charge on a 1:1 unit basis.' The statement explained that the new units will be 'in addition to their existing ZETH holdings which will persist and be backed by ETH as before.'
As the Ethereum blockchain's anticipated switch from a proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism approaches, a number of crypto experts believe The Merge will see some 'miners forking ETH to keep a PoW version so they can continue mining.' As a consequence, current ETH holders will likely receive airdrops of a new altcoin called ETHW.
Explaining the reasons behind the Etc Group's plan to list the...
|4 Crypto Tokens Reap Hashpower From The Merge, ETC Secures Most of the H...
20 days ago, a poll was shared on Twitter asking miners where they planned to dedicate their hashrate, after The Merge transitions Ethereum into a proof-of-stake (PoS) blockchain. The proof-of-work (PoW) contenders at the time were tokens like ravencoin, ergo, flux, and ethereum classic. When the poll concluded, flux and ravencoin outpaced the pack in votes, but reality shows ethereum classic has been the main beneficiary of hashrate so far.Twitter Poll With More Than 10,000 Votes Chooses Flux, While Ethereum Classic Ends up Reaping the Benefits Stemming From The Merge
Ethereum Classic (ETC) is gathering most of the hashrate leaving Ethereum (ETH) as there are only four days left until The Merge. According to metrics recorded by 2miners.com, ETC's hashrate reached an all-time high on September 8, 2022, tapping 53.29 terahash per second (TH/s).
Ethereum's hashrate has dropped below the 900 TH/s region and at the time of writing, the network hashrate is 883.78 TH/s. On August 20, 2022, the Twitter account Cryptovium published a poll that asks miners where they will dedicate their hashpower when The Merge is implemented.
'With the imminent PoS ETH Merge, I'm curious what all the miners out there are planning on moving their rigs to,' Cryptovium said. 'Top PoW contenders seem to be RVN, FLUX, ERG, [and] ETC. Are you going with one of these or choosing something else?'
The final results of Cryptovium's poll got 10,347 votes and flux (FLUX) received the most votes with 45.7%. The...
|Ethereum Classic Outperforms Others In 24 Hours With 19% Gains
Crypto assets' prices have recorded more volatility in recent times. There have been some spikes and pullbacks in the price of many. For instance, the beginning of this week saw Bitcoin moving farther from its $20K mark.
Bitcoin lost its hold on the $20K mark on September 2, closing the market at $19,969. Since then, the crypto has struggled to remain afloat with little rallies and dips. But ETH wasn't the only crypto affected by the upgrade hype. Ethereum Classic ETC also felt the positive market sentiment pushing its price above $40.
Ethereum Classic Gains As Merge Approach
ETC is currently trading at $41.240, indicating more than a 19% price increase in 24 hours. The coin has been holding its grip on $32 from August 31 to September 5. It even recorded a brief pullback to $31 and an intraday high of $39 on September 5.
In twenty-four hours, ETC surged by more than 19% as the community awaited the Bellatrix upgrade on Ethereum ETH. As day trading continues, ETC has continued to skyrocket, and there's a likelihood of increased gain before the close of the market.
ETC's price loses gains and currently fluctuates around $36. | Source: ETCUSD price chart from TradingView.com
Will Miners Move to Ethereum Classic?
As the Merge approaches, ETC is positioned to receive more attention from miners and investors. Being a proof of work network, it might be the next option for Ethereum miners after the upgrade.
Recall that mining activities...
|Ethereum Classic is a Dead Project: Cardano's Charles Hoskinson
The feud between the Cardano founder and the Ethereum Classic community appears to have escalated. After an Ethereum Classic proponent accused Charles Hoskinson of attempting to milk the network following the proposed 20% miner tax, the Cardano founder slammed the entire project.
In the latest tweet, Hoskinson called Ethereum Classic a 'dead project' that serves 'no purpose' or 'real compelling argument' for its existence.
'I love how a sustainable development fund turns into a miner tax. ETC still gives me sadness for what could have been. It's a dead project with no purpose or real compelling argument to exist outside of spite.'
It is worth noting that the Cardano exec left Ethereum in 2014 over disagreements with regard to the future direction of the project. He has been a strong supporter of Ethereum Classic since the hard fork in 2016. Last year, Hoskinson even joined the Ethereum Classic Cooperative's Board of Directors.
However, the latest accusations come after the Input Output Global (IOG) CEO proposed a decentralized treasury protocol and suggested the establishment of a development fund for ETC. The proposal would essentially modify ETC block rewards allocation, which did not sit well with many community members. Several miners of the network rejected this idea since it slashed their rewards.
The comment also comes in the backdrop of Ethereum Classic hitting an all-time high record hash rate of 48.82 terra hashes per second (TH/s) this week. The hash rate ...
|Biggest Movers: ETC up Nearly 30% on Tuesday, as Merge Timeline Is Set
Ethereum classic was a notable mover in today's session, as the token rose by nearly 30% on Tuesday. The surge comes as it was confirmed that the Ethereum merge event will take place next week, between September 13-15. Another big mover was avalanche, which rose by over 8% earlier today.Ethereum Classic (ETC)
Ethereum classic (ETC) climbed above the $40 mark on Tuesday, as markets reacted to news of The Merge event.
Following a low of $32.20 to start the week, ETC/USD surged to a peak of $41.46 earlier in the day.
Today's rally saw ethereum classic breakout of a recent ceiling of $40.00, hitting its highest point since August 18 in the process.
As seen on the chart, this breakout comes as the 14-day relative strength index (RSI) also pushed through a resistance of its own.
Currently the index is tracking at a level of 63.72, which is above a ceiling of 61.40, which had been in place since August 17.
The next point of resistance in the indicator looks to be the 66.50 level, and if reached, we could see ETC near $45.00.
Avalanche (AVAX) also resided in the green during today's session, with the token climbing by nearly 8%.
AVAX/USD raced to a high of $20.43 on Tuesday, taking prices close to a key resistance point of $20.50.
This move, which saw prices climb for a fourth consecutive day, resulted in avalanche hitting its highest point since August 30.
Honing in on the chart, it can be seen that the RSI is also near a resistance of its own at 43.10, and is cu...
|Ethereum Classic (ETC) Produces A Godlike Candle, How Far Can It Go?
Ethereum Classic (ETC) produced a godlike candle as the market's sentiments changed to bullish against tether (USDT). The crypto market has become promising as most altcoins appear bullish, coming out of their shells with the like of Ethereum Classic producing double gains ahead of the 'Ethereum Merge' sentiment pulling altcoins higher. (Data from Binance)
Ethereum Classic (ETC) Price Analysis On The Weekly Chart
Weekly ETC Price Chart | Source: ETCUSDT On Tradingview.com
The price of ETC has had a tough time in recent weeks, with the price falling to a weekly low of $14; the price of ETC bounced off from this region as price rallied to a high of $30 after forming a bearish downtrend channel.
ETC price was able to break out of the downtrend channel, forming a strong bullish bias as the crypto market could be set for a minor rally.
The price of ETC saw it rejected from $30, but the price was able to break above this price and retested the channel, thereby flipping the downtrend resistance into support. This has seen the price of ETC remain bullish above $30 as prices continue to rally to $40.
If the ETC price maintains this structure, we could see the price of ETC rejecting another high acting as resistance in the region of $50-57, but if bears push the price of ETC, we could see a retest of $30 acting as a good support area.
Weekly resistance for the price of ETC - $50-$57.
Weekly support for the price of ETC - $30.
Price Analysis Of ETC On The Daily (1D) Chart