Developers who wish to work with the Ethereum Classic blockchain can access developer tools through the Ethereum Classic website. There are ongoing development projects surrounding the Ethereum Classic blockchain and efforts to develop financial applications on the platform. However, the developers of ETC have announced plans to open the token up to decentralized finance applications through a platform called Wrapped ETC or WETC.

The Ethereum classic supply was hard capped via the Gotham hard fork upgrade on 11th December 2017. The move added a Bitcoin-inspired deflationary emission schedule to the coin’s supply. Also known as 5M20, this deflationary schedule decreases the block reward by 20% every 5,000,000 blocks. This aspect of ETC tokenomics was meant BNB to boost the coin’s long-term sustainability to a great level. As per the Ethereum Classic price prediction undefined model above, ETC’s price for undefined should range between $undefined to $undefined with the average price for undefined being $undefined.

Ethereum vs Ethereum Classic: Comparison Of ETH And ETC

ETC is used as a peer-to-peer payment token and to secure the Ethereum Classic blockchain. Market cap is calculated by multiplying the asset’s circulating supply with its current price. The ETC average price is expected to reach minimum and maximum prices of $55.85 and $63.97 respectively.

The long term sentiment, however, remains bullish and ETC could hit $31.08 in 2024. 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. In 2016, following the establishment of Ethereum’s smart contract functionality, a protocol named The DAO emerged as the first-ever decentralized autonomous organization.

Ethereum Classic Charts

Here’s the story, the code would edit Etheruem’s transaction history and return the cryptocurrency Ether to the people that lost the funds in “the DAO” situation. However, while the majority of Ethereum users upgraded their software, a minority continued to maintain the older Ethereum software with the record of the theft. Due to the fact that they carried on running this code, they created a new cryptocurrency, and this cryptocurrency is what we know today as Ethereum Classic. Ethereum Classic’s price for 2034 according to our analysis should range between $264.42 to $396.63 and the average price of ETC should be around $330.53. Ethereum Classic’s price for 2033 according to our analysis should range between $204.98 to $307.47 and the average price of ETC should be around $256.22. Ethereum Classic’s price for 2032 according to our analysis should range between $158.90 to $238.35 and the average price of ETC should be around $198.62.

• Now existing as two separate blockchains, Ethereum Classic remains true to its brand while remaining the “original Ethereum” with smart contract functionality even as Ethereum evolves further.
• It is based on the older versions of Ethereum that existed before fundamental changes to the codebase.
• On the same day the network deployed the Gotham update, the ETC emission reduction protocol implemented the first block reward slash.
• In short, Ethereum Classic is valuable mostly due to its popularity and well-known history.
• So we are back to 0 We are right in hard resitance here, which matches the bear market unfortunately.

This new branch is still at the foundation of what is called Ethereum today, and the old branch is known as Ethereum Classic. If you want to buy, sell, or trade Ethereum Classic you can do so on Binance Futures, Upbit, CoinBene, Latoken, DigiFinex, and Binance. For more information check out our guide on how to buy Ethereum Classic. However, developers state there is no official team working on the project and that its global development community is a permissionless one where anyone has the opportunity to participate in it. According to the Ethereum Classic Price Prediction model above, ETC’s price in 2029 would be $92.53. According to the Ethereum Classic Price Prediction model above, ETC’s price in 2028 would be $71.72.

Ethereum Classic price today

It’s also possible to trade them against other crypto coins on popular exchanges. 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. It went on to record its all-time high of nearly $180 on May 6, 2021.

The etc prices price per unit of weight and currency will be displayed on the right. Yes, since Ethereum Classic is a Proof-of-Work blockchain, you can mine ETC coins using computers and specialized hardware including GPUs. Ethereum Classic BNB integrated with Multichain, widely considered the leader in cross-chain routing protocols. The bridging solution will enable interoperability for the Ethereum Classic network. As a result, projects belonging to other networks will be able to offer support for and migrate easily to Ethereum Classic.

CoinDesk Research’s 2022 Annual Crypto Review

Gavin Wood was a research scientist at Microsoft as well as a holder of a master’s degree and a doctohttps://www.beaxy.com/ in computer science. Early in his career, he worked on embedded programming languages, lighting software, programming language workbenches, and smart contract editors for legal documents. Ever since it emerged from the original project, the Ethereum Classic cryptocurrency has seen important developments. A lot has happened in terms of upgrades, technical changes, and monetary policies. The circulating supply of Ethereum Classic increases gradually as new coins are released to reward miners. However, this will no longer be the case after all the available ETC is mined.

The Ethereum network as it exists today is the forked chain, while Ethereum Classic is the original chain upon which the DAO hack occurred. Circulating supply shows the number of coins or tokens that have been issued so far. The percent change in trading volume for this asset compared to 24 hours ago. Binance has the lowest transaction fee rate amongst all major trading platforms.

Ethereum Classic(ETC) Info

However, while the record of security incidents may attract speculators who seek to capitalize on volatility, it also has the effect of scaring away new developers. Wood was responsible for writing the code of the Ethereum blockchain, and the product became very successful immediately after its launch. The project was so successful, in fact, that it attracted bad actors, including a hacker that compromised the network in 2016 and stole roughly $50 million worth of cryptocurrency. Buterin is a computer programmer and writer who got involved with the world of cryptocurrency at a very early stage. At the start of his career, Buterin was writing articles on cryptocurrency for Bitcoin Weekly in exchange for Bitcoin tokens. The rate at the time was 5 BTC per article, which was $3.50 then and approximately $200,000 at the time of this writing.

etc prices Classic’s price for 9 Mar 2023 according to our analysis should range between $19.87 to $22.86 and the average price of ETC should be around $21.37. Ethereum Classic’s price for 8 Mar 2023 according to our analysis should range between $20.14 to $23.17 and the average price of ETC should be around $21.66. 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. The balance between buying and selling activity will eventually form the price and define a market cycle as bearish or bullish.

Head to the KuCoin Exchange for 24/7 live updates of ETC/USD prices and the ability to buy/sell crypto quickly. Before buying or selling any cryptocurrency, it’s important to check financial regulations in your area surrounding the use of cryptocurrency. There are no special regulations specifically prohibiting Ethereum Classic. Ethereum Classic can be a solid short-term investment in the wake of network attacks. It can be sold short in the midst of network attacks in order to profit from price falls, and it can be bought long as the price recovers and the attackers sell their gains.

A drop from $39.32 to $20.75 was seen towards the beginning of 2022, with strong bearish momentum sustaining itself since. Since the price has been on a downtrend, the weekly price chart showed the RSI was under the neutral 50 line, and the Awesome Oscillator was below the zero line. Moreover, on the daily time frame, a $13.24-support level was found under the $18.99-resistance level between June and July 2022. Before you begin trading with OKX, you need to create an account.

However, traders looking to trade with the trend can wait for a bullish trend before beginning to buy the altcoin. If ETC does see movement in any direction, using the Relative Strength Index and Directional Movement Index will help traders. Later, for unknown reasons, the hacker stopped exhausting the DAO even though they could have. To fix the damage, the Ethereum community managed the situation and dealt with the exploit.

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. Senate hearing and said the central bank will likely need to raise interest rates more than anticipated. Powell also warned that banks should be “quite cautious” about getting involved in digital assets.