Ethereum Classic Price ETC Price Index, Live Chart and USD Converter

The former are referred to as smart contracts, which allow for the creation of decentralized applications . One of the main aims of Ethereum Classic is to always enable censorship-free execution of such smart contracts. Ethereum Classic further distanced itself from Ethereum over time, as it put a hard cap on ETC’s maximum supply and adopted a Bitcoin-like deflationary monetary policy by introducing a regular reduction in block rewards. It aims to be the go-to platform for smart contract development which helps developers create unstoppable applications. Due to the availability of smart contracts on Ethereum Classic, it is possible to host tokens and build decentralized applications on the ETC blockchain. In other words, applications launched on Ethereum Classic can issue and manage their native tokens.

The price of Ethereum Classic depends on BNB a wide variety of specific factors that help form its market value. Ethereum Classic has a capped max supply, which means that no new coins will be minted once all of the supply is in circulation. This fixed supply means that ETC isn’t subject to inflation like fiat currencies and an increase in demand will drive up its price. With the intervention by Ethereum’s team, the platform was able to return all of the stolen funds to their owners. ETC is used on the Ethereum Classic blockchain in a similar manner to ETH on the Ethereum network. ETC is used as a peer-to-peer payment token and to secure the Ethereum Classic blockchain.

ETC Findlay Market Edition

A benchmark is a standard against which the performance of a security, mutual fund or investment manager can be measured. The way ETCs are structured varies depending on the company issuing the product. Certain exchanges, such as the London Stock Exchange and Australian Securities Exchange , offer products called ETCs that have a specific structure. OKX offers the ETC/USDT, ETC/USDC, ETC/BTC, ETC/ETH, and ETC/OKB trading pairs. Alternatively, you can buy ETC directly with fiat or convert your crypto to ETC. The price of ETC has historically been heavily correlated to ETH price movements, according to OKX’s ETH and ETC charts.

To see more analysis and outlook please check the Ethereum Classic price prediction page. Extreme volatility in combination with other factors like ETC’s capped supply, exchange listings, and market trends affect the price of ETC on a daily basis, causing gains and losses. The market cap of Ethereum Classic is equal to the number of ETC in circulation multiplied by the current price of Ethereum Classic. The volatility of ETC means that its price may rise or fall quickly within a brief timeframe. January 2020 started bullishly with 157% of gains and ETC was able to climb to the price of $12 as its new high for the year until it reached the value of $13 in February.

Ethereum Classic Price History

This text is informative in nature and should not be considered an etc market recommendation. Any investment or trading is risky, and past returns are not a guarantee of future returns. Fundamental analysis focuses on the wider economic state of the market, as well as dev team activity, new upgrades, updates, and the overall value of ETC utility. Events like partnerships, adoption, and government regulations can also affect the price of ETC and are observed through the use of fundamental analysis.

Ethereum Classic price is often subject to major price fluctuations, caused by a multitude of specific factors that influence the price and form trends in the market. The MIG holds its Annual Market Intelligence Group Meeting in February every year. The resulting Research Programme is steered by the Market Intelligence Committee – a group of volunteers from the research departments of 11 of our 34 member NTOs.

What Is an Exchange-Traded Commodity (ETC)?

After the hard fork, the old Ethereum chain was supposed to be phased out but instead, those who disagreed with the fork kept the network alive. This led to the genesis of Ethereum Classic, with ETC as its native token. Although ETH and ETC initially shared several similarities, the two networks have grown far apart regarding technological features.

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. 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.

Exchange-Traded Commodities (ETCs) vs. Exchange-Traded Funds (ETFs)

https://www.beaxy.com/ Classic currently sits below all exponential moving averages. The price of Ethereum Classic has experienced significant changes, going from lows of $0.61 to highs of $47, and its movement has often been characterized by surges and crashes. European Travel Commission is the non-profit organisation responsible for the promotion of Europe as a tourist destination in third markets.

However, a hacker stole $3.6 million three months later, by exploiting a bug in one of The DAO’s smart contracts. However, the miners and users, aggrieved at this move, decided to stay on the original Ethereum blockchain, which later metamorphosed into the Ethereum Classic network. 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.

ETC Price Statistics

Despite these philosophical differences, etc market Classic and Ethereum work similarly. Q Cryptocurrency Report Altchain narratives are still going strong while the entire market undergoes a correction in light of growing macroeconomic woes. The community is bullish as more than 68% of users are feeling good about Ethereum Classic today. Like Ethereum, Ethereum Classic makes it possible to issue ERC-20 standard tokens. Ethereum Classic, however, is incompatible with updates to the Ethereum network, such as the Ethereum Merge. Binance has the lowest transaction fee rate amongst all major trading platforms.

He brings unique experience in managing and structuring complex projects, as well as knowledge about the relevant technology to the venture. Bradley has spent most of his career in regulated Financial Services as well as young technology companies. He worked for investment bank Jefferies at their offices in New York, Paris and London, and then at the trading powerhouse LINK KCG in London where he headed the team at Knight Direct Europe. Bradley co-founded fin-tech and payments company Zapper, and most recently was CEO of the UK branch of the investment bank BCS Global Markets. 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.

Please contact your broker or financial adviser for further information. To buy ETC with your preferred fiat, click “Buy with card” under “Buy Crypto” on the top navigation bar. To trade ETC/USDT, ETC/USDC, ETC/BTC, ETC/ETH, or ETC/OKB, click “Basic Trading” under “Trade.” Under the same tab, click “Convert” to convert crypto to ETC. Due to the novelty of The DAO and the perceived viability of its use case, it raised $150 million worth of ETH during its crowdsourcing campaign. But unfortunately, there was a vulnerability in The DAO’s smart contract.

The Worst year in which the price declined from $28 to $3.34 is 2018. Extended sell-off sub $16.46 throughout the day can bring the second major support at $13.00 into play. The start of 2019 was bearish as well for Ethereum Classic with lows of around $3 in January. From February to May 2019, ETC price saw a more stable period of growth and managed to trade at over $8, reaching $9 in June as the new high for the year. By the end of 2019, ETC price had been through numerous changes caused in part by high volatility, trading between $8 and $3.

• A contentious hard fork on Ethereum occurred in July 2016, when participants disagreed over whether to revert the blockchain to cancel out the effects of a major hack.
• Tim was one of the founding members of ETC Group and acted as a non-executive director until joining in an executive capacity.
• Please also note that data relating to the above-mentioned cryptocurrency presented here are based on third party sources.
• The ETC block reward decreases with time, with the next drop due at block 15,000,000, roughly in April 2022 — from 3.2 ETC to 2.56 ETC per block.
• Thus, ETCs should not be confused with commodity ETFs, which invest directly in and hold physical commodities, such as agricultural goods, natural resources, and precious metals.
• 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.