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. You can buy ETC from various reputed crypto exchanges, by paying in a fiat currency, or with other cryptocurrencies, through trading pairs like ETC/USDT, ETC/XRP, ETC/BTC and ETC/ADA. You can hold your ETC coins and use them as a long-term store of value. It’s also possible to trade them against other crypto coins on popular exchanges. Yes, since Ethereum Classic is a Proof-of-Work blockchain, you can mine ETC coins using computers and specialized hardware including GPUs.

Compared to other https://www.beaxy.com/ coins which started the same year as Ethereum Classic it has above-average trading volume, average volume for the other 96 coins started in 2016 is $6M while ETC has $354M. While Ethereum Classic shares many similarities with Ethereum, there are also some key differences. One of the most notable is that the network does not support the Ethereum Foundation’s vision of a decentralized world computer. Instead, it focuses on maintaining the original properties of Ethereum’s blockchain, which its global community believes is more true to the spirit of Satoshi Nakamoto’s vision for Bitcoin. In 2016, following the establishment of Ethereum’s smart contract functionality, a protocol named The DAO emerged as the first-ever decentralized autonomous organization.

Which services are tied to Ethereum Classic?

While fiat currencies are losing their sheen in the recessionary phase of world economies, currencies gain momentum. The onset of cryptocurrencies marked a revolutionary era in the world of finance. The versatile range of cryptocurrencies offered a plethora of advantages to investors. The renowned cryptocurrencies like Bitcoin, Ethereum, BNB had their own benefit bandwagon to promote. Before we dig into Ethereum Classic price prediction, let us have a look at some of the unique features of Ethereum Classic. Developers can use the network to create and execute smart contracts in the same way as on the main Ethereum network.

Such an upbeat mood not only sends the price of market leaders higher but increases investor confidence in buying altcoins such as ETC. You can also participate in mining Ethereum Classic and generating ETC rewards by helping validate transactions on the blockchain. You can receive a portion of the reward in ETC coins for your efforts and grow your portfolio. Based on LTC the price fluctuations of Ethereum Classic at the beginning of 2023, crypto experts expect the average ETC rate of $21.05 in March 2023.

What is Ethereum Classic (ETC)?

Binance is not responsible for the reliability and accuracy of such third-party sites and their contents. 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 7 days ago.

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. 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. Ethereum Classic’s current share of the entire cryptocurrency market is 0.25%, with a market capitalization of $ 2.65 Billions.

Ethereum Classic Price Summaries

The total dollar value of all Ether Classic transactions over the past 24 hours. While there was no official maximum limit for ETC’s total supply before the Gotham update, its implementation restricted the number of ETC that can exist to 210.7 million tokens. Also, the emission rate of ETC was modified such that the block reward reduces by 20% every 5 million block intervals. As the continuation of the original Ethereum blockchain, Ethereum Classic remains committed to maintaining its original motto of providing a censorship-resistant platform for dApps.

This led to the genesis of Ethereum Classic, with ETC as its native token. Although ETH MATIC and ETC initially shared several similarities, the two networks have grown far apart regarding technological features. The Ethereum Classic price statistics could enjoy support whenever the crypto market enjoys a strong bullish sentiment.

Ethereum Classic (ETC) price history

The current price of Ethereum Classic multiplied by its current circulating supply. There are currently approx 71.5 M ETC coins left that aren’t in circulation yet. We have coin market data from 24 Jul 2016, the lowest rate was on Jul 2016, 6 years ago it worthed $0.730. The Best year in which Ethereum Classic value increased the most was 2017 ETC value jumped from $1.41 to $47.77. 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.

Ethereum Classic is an open source, blockchain based distributed computing platform. Like ETH it provides a decentralized turing-complete virtual machine, the EVM, which can execute scripts across the network. Ethereum Classic is a continuation of the original Ethereum blockchain – described as the classic version, preserving untampered history, free from external interference. ETC is the native cryptocurrency of Ethereum Classic, a blockchain project that was created in 2016 when Ethereum’s blockchain split into two separate chains following a disagreement among members of its community.

etc valueRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions. If you’re looking for a set of practical and insightful crypto market information and data, we have the analytics tools to suit your business needs. Ethereum Classic and Ethereum remain similar in terms of their basic functionalities. For example, developers can make use of the open-source code to develop and run decentralized applications and ERC-20 tokens can also be created for use on such applications. Founded in 2013, Bitcoin Wisdom strives to provide informative and accurate bitcoin news, price predictions, investing guides and exchange reviews. Create your account below to receive exclusive access to a wide range of trading tools such as premium Ethereum Classic price predictions, advanced ETC buy/sell signals and much more.

It is already established as a popular token, so it is still valued at a considerable price. A 51% attack is a way to compromise the control of token production by controlling 51% or more of mining activity through a single node or group of nodes. In the legacy version of Ethereum, attackers have been able to gain control of 51% of Ethereum network mining activity and steal large amounts of tokens.