![]() So far in 2023, the crypto market has seen some positive momentum, ETC has witnessed a price increase. Despite the losses, ETC outperformed the broader crypto market, which experienced a roughly 65% drop in 2022. Ethereum Classic (ETC) Price Historyīy year-end, it had recovered to $15.69, representing an annual decline of nearly 55%. The collapse of the FTX exchange caused another market crash, with ETC reaching a low of $14.89 on December 19. ![]() ETC then stabilised between $20 and $30 for several months. Subsequent market crashes led to a low of $12.60 on June 18. It hovered around the $30 mark in January but rebounded to $52.17 in March. In 2022, the crypto market faced various challenges, impacting ETC’s performance. It reached $77.07 on September 6 but subsequently retreated, closing the year at $34.12. On August 15, 2021, Ethereum Classic reached $76.94, its highest level since the May decline. It achieved an all-time high of $176.16 on May 6, 2021, followed by a sharp decline during the market crash. The beginning of 2021 marked a favourable period for the crypto market, and ETC capitalised on increased participation. Throughout the rest of the year, ETC traded within a range of $4 to $6. The price dipped to $4.51 in March 2020 due to market anxiety related to the COVID-19 pandemic. In February 2020, ETC saw a resurgence, reaching $12.34, its highest level since 2018. After this surge, the price experienced a downturn, falling to $3.76 by December 2018. But it then embarked on a significant rally, reaching $46 by December 2017. Subsequently, its price declined to a low of $0.75 in November 2016. ![]() Note that while past performance should not be relied upon as an indicator of future outcomes, understanding the coin’s historical trends provides valuable context for making or interpreting Ethereum Classic price predictions.ĮTC initially traded at $2.08 when the blockchain split in July 2016. Now, let’s take a closer look at the price history of ETC. Miners can earn ETC tokens by upholding and securing the network’s operations. ETC has a circulating supply of 143,002,842 tokens, with a maximum supply of 230,000,000. However, their distinction lies in their ticker symbols: the new Ether is denoted as ETH, while Ethereum Classic’s token is represented as ETC. While Ethereum Classic and Ethereum currently use the proof-of-work method, Ethereum is concurrently transitioning to a different consensus mechanism known as proof of stake.Įthereum Classic’s native token is also named Ether, which can create confusion. It employs the proof-of-work protocol to validate transactions, demanding substantial computational resources for ETC mining. It was built using the unmodified Ethereum ledger, which included the transactions from the hack.Įthereum Classic stands apart because it preserves the original Ethereum blockchain. However, a segment of the original Ethereum community disagreed with this approach, leading to the creation of Ethereum Classic. The primary Ethereum blockchain responded by implementing updates to rectify the erroneous transactions. This breach resulted in the loss of 3.6 million Ethereum tokens. The fork from Ethereum to Ethereum Classic was prompted by a significant hacking incident, an uncommon yet not unprecedented occurrence in crypto blockchains. Like the Ethereum network, the Ethereum Classic blockchain can support smart contracts and decentralised applications, and it upholds its distinct Ethereum Classic tokens. What is Ethereum Classic (ETC)?Įthereum Classic (ETC) emerged in 2016 as a cryptocurrency through a hard fork, a permanent split, originating from Ethereum (ETH). This article delves into Ethereum Classic (ETC) and Ethereum Classic (ETC) price predictions for 2023-2030. Ethereum Classic remained loyal to the original blockchain following a hard fork triggered by network breaches in 2016. Yet, another iteration of Ethereum asserts its authenticity, namely Ethereum Classic (ETC). ![]() Ethereum (ETH) is one of the leading cryptocurrencies besides Bitcoin (BTC).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |