Ethereum Classic (ETC) in form, + 100%

The sudden rise of Ethereum Classic could question the ecosystem of major cryptocurrencies. Despite the instability of the cryptocurrency industry, ETC exceeds all expectations and its price explodes. What will happen to bitcoin and ethereum?

Ethereum Classic, a threat to BTC and ETH?

Despite the hostility of some personalities, the cryptocurrency sector continues to make headlines. Although unstable, the cryptocurrency field is attracting more and more people, and the surprises are connected. While all eyes are on bitcoin and ether, the price of Ethereum Classic explodes and surpasses all forecasts.

In fact, BTC is currently trading around $ 22,900, however, the price remains down from last week. Meanwhile, the ETC token has risen by more than 100% in 30 days. According to the forecasts of some experts, the rise of Ethereum Classic could strongly disrupt the ecosystem of bitcoin and Ethereum. However, one should think carefully before investing in this token, especially with the current instability.

Although the ETC is trading at $ 33.44 according to CoinMarketCap data, there is a strong possibility that it will hit $ 40 in the coming weeks. According to cryptocurrency analyst Coin Bureau, the rise of ETC could be very beneficial for ETH. However, while it benefits from the Ethereum merger, investors should be on guard.

Merge’s share on the ETC price

The instability of cryptocurrencies is both a disadvantage and an advantage. Just as it can bring prices down, it can also push them up. Indeed, Ethereum Classic comes out of nowhere and creates a surprise. While crypto is far from equaling the ether in terms of value, the token pretty much positions itself as a competitor.

However, its rise is not as unpredictable as one might think. Indeed, an important factor affects the price of this token. In particular, the merger of Ethereum. ETH stands out largely thanks to the effort it puts into its updates. The upcoming launch of The Merge has a big influence on the price of Ethereum Classic.

In fact, some people believe the downsizing will be the catalyst in the price of ETCs. Since The Merge’s announcement, many miners are switching to ETC. The passage to Proof-of-Stake it means the end of cryptocurrency mining on the blockchain.

Internet users therefore opt for an Ethereum derivative not only for its age, but also for its monetary policy. In addition, the software also supports decentralized applications on the blockchain.

The Ethereum update draws all eyes to this blockchain. The sudden rise of Ethereum Classic perpetuates the Ethereum ecosystem. In fact, its notoriety has continued to grow since the announcement of the merger. However, although the price of ETC has increased by more than 100%, invest only what you can lose.

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Eddy Senga avatar

Eddy Senga

The world is changing and adaptation is the best weapon to survive in this undulating universe. As the crypto community manager at the base, I am interested in anything directly or indirectly related to the blockchain and its derivatives. To share my experience and introduce a field that fascinates me, nothing better than writing informative articles and relax at the same time.

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