Ethereum Classic’s price for August 2023 according to our analysis should range between $33.95 to $39.06 and the average price of ETC should be around $36.51. Ethereum Classic’s price for July 2023 according to our analysis should range between $33.50 to $38.54 and the average price of ETC should be around $36.02. Ethereum Classic’s price for June 2023 according to our analysis should range between $33.05 to $38.02 and the average price of ETC should be around $35.54.

Another major factor is the oracles of ETC price are of complex nature even though high in demand. The launch on Ethereum mainnet was a respite for investors who have been long waiting for it. These factors have increased the use of this protocol in the decentralized finance sector, thereby boosting Ethereum Classic’s adoption. It can be clearly defined that ETC, listed on various exchanges, has positioned itself among many of the top currencies but to stay at that level, it has to exploit its maximum potential. In July 2021, the Ethereum Classic launched a hard fork known as Magneto to implement multiple features through the Berlin hard fork. Ethereum Classic’s long term Price Prediction below is a look at ETC’s future prospect with regards to price.

Timeline

The most attractive part about owning ETH tokens is that Ether is required for fueling crypto transactions. The role of the Ethereum Classic token is to WAVES maintain and operate the ETC network. Users realize value by participating in various activities on the Ethereum Classic network. Holding ETC allows users to use smart contracts, make transactions on the network, interact with dApps, and participate in governance votes.

• Ethereum Classic experiences the first successful chain reorganization attack on its network.
• These are the project’s quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
• On the contrary, Crypto coins are powerful mainly because they are not regulated or, for that matter, dependent on any governing body.
• 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.
• While fiat currencies are losing their sheen in the recessionary phase of world economies, cryptocurrencies gain momentum.

The caused the Ethereum blockchain to split into two separate routes and tokens that we now know as ETC and ETH. Ethereum Classic was created in 2016 as the result of a spinoff (a.k.a. a “hard fork”) of the original Ethereum network. Like Ethereum, Ethereum Classic is a decentralized computing network that supports smart contracts-essentially computer programs-that can automatically execute when certain conditions are met. Ethereum Classic aims to uphold Ethereum’s original, unaltered code while the main Ethereum project continues to evolve. The new protocol retained the original name Ethereum because of the amount of community support for the fork. It functions on a brand new blockchain, and the vast majority of miners, users, and protocol from the previous version of Ethereum use this new version.

What’s the current Ethereum Classic price? How much is 1 Ethereum Classic worth?

The network is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering with transactions. Its team believes in immutability and censorship resistance, and that’s why they’ve continued to support the original Ethereum blockchain despite the disastrous DAO hack in 2016. ETC, the native coin of Ethereum Classic, is used to pay for using its computational resources. As in Ethereum, one needs to pay gas fees for the execution of smart contract functions and coin transactions. This payment goes to miners who validate transactions, perform smart contract computations and add new blocks to the chain. Besides being a payment mechanism for blockchain transactions, ETC, owing to its deflationary nature, is also used as a store of value.

Ethereum Classic’s price for 21 Mar 2023 according to our analysis should range between $24.86 to $28.61 and the average price of ETC should be around $26.73. Ethereum Classic’s price for 16 Mar 2023 according to our analysis should range between $22.64 to $26.05 and the average price of ETC should be around $24.34. Ethereum Classic’s price for 11 Mar 2023 according to our analysis should range between $20.32 to $23.38 and the average price of ETC should be around $21.85. Ethereum Classic’s price for 10 Mar 2023 according to our analysis should range between $19.96 to $22.96 and the average price of ETC should be around $21.46. Ethereum 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.

This new branch is still at the foundation of what is called https://www.beaxy.com/ today, and the old branch is known as Ethereum Classic. The table above shows the number of days which Ethereum Classic closed above a certain price level. “Crypto.com Exchange lists $SC and $ETC. Trade these tokens in #USDT pair now.” Ethereum Classic currently sits below all exponential moving averages. ETC will need to avoid closing below the 16.46 level to make a move to the first major resistance level at $19.53. If another extended rally, it should test the next major resistance level at $24.12.

The Ethereum network as it exists today is the forked chain, while Ethereum Classic is the original chain upon which the DAO hack occurred. This is a statistical representation of the maximum market cap, assuming the maximum number of 210 Million ETC tokens are in circulation today. Depending on how the emission schedule of ETC tokens are designed, it might take multiple years before FDV is realized.

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. Its next noteworthy surge came during the crypto boom of 2018, when ETC price reached $43.76 on Jan. 13, 2018. However, it retraced to under $20 within a month and continued its fall further after a brief spike in February, trading well under $10 by Q3, 2018. It aims to be the go-to platform for smart contract development which helps developers create unstoppable applications. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.

Did you know that Ethereum Classic was the original form of Ethereum? Yet, because of many disagreements in the Ethereum community, the two blockchains eventually split, and an Ethereum fork ended up creating Ethereum Classic or ETC and Ethereum or ETH. Selling and buying ETC, or exchanging them for any other cryptocurrency, is done in mere moments when you choose our secure platform as your storage solution. Kriptomat offers a secure storage solution, allowing you to both store and trade your Ethereum Classic tokens without hassle.

Early in his career, he worked on embedded programming languages, lighting software, programming language workbenches, and smart contract editors for legal documents. If you are planning to trade crypto, please consult a financial adviser. 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 3.62%. To view the price of Ethereum Classic in the currency of your choice, select a base currency at the top of the page. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies.

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. Based on the price fluctuations of Ethereum Classic at the beginning of 2023, crypto experts expect the average ETC rate of $21.05 in March 2023. Its minimum and maximum prices can be expected at $19.05 and at $21.65, respectively. To simplify the latest ETC price prediction, we have divided up the prediction by short term Ethereum Classic price prediction and long term Ethereum Classic price prediction. As of writing this article, ETC had a trading volume of $103,355,705.

In fact, it has sustained momentum and consistently performed as said before till the recent etc token pricecurrency market crash. Ethereum Classic ($ETC) is a hard fork of Ethereum ($ETH) launched on Jul 2016, and positions itself as the continuation of the original Ethereum by retaining the “code is law” spirit. Its main function is to execute smart contracts, which are applications that run as programmed without the possibility of censorship or thirdparty interference. 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.

Powell also warned that banks should be “quite cautious” about getting involved in digital assets. AdvisorShares CEO Noah Hamman weighs in on bitcoin fundamentals amid recent macro headwinds. Plus, Ordinals Protocol Creator Casey Rodarmor shares his reaction regarding Yuga Labs’ latest bitcoin NFT collection. Most Ethereum users moved on to the new hard fork, leaving Ethereum Classic with a significantly smaller community. The launch of Ethereum Classic came after the 2016 Ethereum DAO hack, which resulted in a fork of the Ethereum blockchain.

There are ongoing development projects surrounding the Ethereum Classic blockchain and efforts to develop financial applications on the platform. As a speculative investment, Ethereum Classic is highly volatile. Its connection to Ethereum, the second biggest crypto after Bitcoin, gives it a serious presence in the marketplace.

These attacks are what caused a hard fork of the Ethereum network and the creation of Ethereum Classic. In order to secure the network from such attacks, a new version of the Ethereum blockchain was developed. The old version persisted and is known today as Ethereum Classic. While Ethereum Classic is undoubtedly the 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. The 51% attacks that have affected the Ethereum Classic crypto in the past have also contributed towards ETC’s second fiddle status.

Readers who have been paying attention now probably have a good idea of which of the two Ethereum versions is the superior one. One of the main reasons for this is that it directly rivals Ethereum, and so its users see it as an attack on the leading cryptocurrency. It also confuses new users and hinders the adoption of Ethereum currency. ETC is well down the list of cryptocurrencies by a huge gap and has no Decentralized Finance apps or NFTs supporting it. Ethereum is leading the alternative currency revolution, only behind Bitcoin. The same goals, applications, and intended users were kept in mind when creating both of these cryptocurrencies.

With the intervention by Ethereum’s team, the platform was able to return all of the stolen funds to their owners. But even though the two coins initially had the same future supply projections, differences came about over time as each coin evolved. That is supposed to make ETC a better store of value than Ethereum, because its tokens are scarcer. Buterin intended for simple agreements, like real estate deals, to be written in the form of smart contracts, as well as more complex codes that facilitate decentralized exchanges and DeFi applications.

ETC uses the Proof-of-Work consensus mechanism to mine new blocks. However, since the Ethereum Classic price is influenced by the asset being deflationary, the reduced rewards may not strongly impact the value. During its creation period, the platform raised 12.7M ETH, which was valued at $150 million at the time. As a decentralized network, The DAO was open-source and made its code available to community contributors. Publicly circulating amount of specific XRP cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked .