Ethereum Classic Price ETC, Market Cap, Price Today & Chart History

The old blockchain was renamed and Ethereum Classic was born, and with it, a new cryptocurrency joined the market. Ethereum Classic kept operating on the old blockchain, formerly Ethereum, representing the original idea of an open-source decentralized network that operates on smart contracts. Although Ethereum Classic supports smart contracts and supports dApps, the number of decentralized applications operating on its ecosystem is far lower than those on Ethereum. Due to the availability of smart contracts on Ethereum Classic, it is possible to host tokens and build decentralized applications on the ETC blockchain.

Like https://www.beaxy.com/, Ethereum Classic XRP 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. Remaining on the blockchain would have meant that investors weather the economic effect of the DAO, but the bailout was commenced and investors made whole, by moving to the new blockchain. Usually when $ETC starts to run, we’re nearing the end of a trend. There’s high volume coming into it with a 50% increase in the last day.

Historical Price by Month

In March 2020, the second ETC reduction event slashed block reward by another 20% to 3.2 ETC. In April 2022, another 20% block reward slashing (from 3.2ETC to 2.56 ETC) was implemented. Based on the 5 million block emission schedule, the next reward reduction event will occur in 2024. The price of ETC has historically been heavily correlated to ETH price movements, according to OKX’s ETH and ETC charts. Unlike Ethereum, Ethereum Classic has no plans to convert to the proof-of-stake mining algorithm. However, developers are working towards improving the scaling solutions that can be implemented.

Hackers stole $50 million worth of XRP funds and a split was performed as a way to return the stolen funds to their original owners. This resulted in a fork leading to the two versions co-existing. The newer network, or Ethereum, uses ETH or ether as its cryptocurrency while the older one, renamed Ethereum Classic, uses ETC.

Ethereum Classic PRICE TODAY IN EUR

Transfer the funds from your etherium classic price wallet and into your KuCoin trading account to use them. 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. Every year, cryptocurrency experts prepare forecasts for the price of Ethereum Classic.

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. Unlike Ethereum, which has no limit on coin supply, ETC has adopted a deflationary policy and capped the token supply at 210.7 million.

Is Ethereum Classic a good investment?

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. In the last 24 hours.ETC has a circulating supply of 139.8 M ETC and a max supply of 210.7 M ETC. The maximum token supply of Ethereum Classic is limited to 210,700,000 ETC. 138,063,286 ETC are in circulation at the time of writing.

Ethereum Classic has a fixed maximum supply of 210.7 million coins and a circulating supply of over 135 million as of June 2022. On the other hand, Ethereum’s ETH has a total supply of over 121 million at the time of writing. You can also use your existing cryptocurrencies to buy ETC on the KuCoin exchange.

No part of the content we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for you to rely on for any purpose. Any use or reliance on our content is solely at your own risk and discretion. The Ethereum Classic to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.

CoinDesk journalists are not allowed to purchase stock outright in DCG. 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.

ETC price and tokenomics

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. When the split first happened, everyone who held ether at the time received the exact same amount of ethereum classic in their wallets for free. 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.

Essentially, ETC can be used by Ethereum Classic users to pay the gas price for conducting transactions on the network. It was created in 2016, due to a difference in ideological and technical opinion within the Ethereum community, which came as a result of the infamous DAO attack. The original Ethereum blockchain was split into two with Ethereum Classic being the original and Ethereum being the newer blockchain. Exchange cryptocurrencies in seconds to get the most out of your assets. The current Market Cap ranking of ETC is #26, with a live market cap of $2,759,560,499.49 USD.

According to Desk’s historical price data, ETC’s price surged to a peak of $42 during the 2017 bull run, before crashing to a low of $3 during the crypto-wide bear market. Amid the resurgence of buying momentum in 2021, ETC’s price skyrocketed to an all-time high of $134. Earn up to $1,000 when you fund a new account, and earn up to $100 in Bitcoinwith your first qualifying crypto trade . Please also note that data relating to the above-mentioned cryptocurrency presented here are based on third party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under Binance’s control.

This could increase the on-chain activity of the blockchain, drive the Ethereum Classic price higher, and make ETC more valuable to invest in and hold. The Ethereum Classic price statistics could enjoy support whenever the crypto market enjoys a strong bullish sentiment. Such an upbeat mood not only sends the price of market leaders higher but increases investor confidence in buying altcoins such as ETC. Ethereum Classic is one of the oldest and largest cryptocurrencies by market cap and enjoys considerable attention from investors.

• But even though the two coins initially had the same future supply projections, differences came about over time as each coin evolved.
• BitFlyer Wallet supports everything from account creation to trading.
• To check Ethereum Classic’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page.
• In the middle of the year 2023, the ETC price will be traded at $23.23 on average.
• It is assumed that the price will not drop lower than $22.42 in June 2023.
• Ethereum Classic is a decentralized, open-source blockchain platform, as well as a cryptocurrency.