Ethereum Classic (ETC) is one of the fast-recovering digital assets, doubling its price since the most recent crash. ETC now stands around $30, as the project’s influence increases. ETC grew by 16% overnight at one point, becoming one of the better-recovering coins in the past days.
The most promising sign is that trading volumes remain rather robust, even compared to the days of peak prices.
The chief price pressures for Ethereum Classic come from the Korean markets. Trading against Bitcoin, the asset has not seen much growth or change. But the high fiat price is the result of including Korean trading into the pricing. Trading on Bithumb and Upbit takes up 30% of ETC volumes, and the price is at a premium above $30.
Coins with a separate fiat trading channel may be more robust and offer diversification for assets usually traded against BTC, which often drop their price as BTC rises. On Binance, the ETC/BTC pair results in a lower price of around $28 per coin.
A new listing may come for ETC as well, expanding the asset’s presence:
Satoshi dogmatism is unwise, as some possibilities and trade-offs were not known early on. Here’s one of the architects of Microsoft Windows, growing it from 7 million to 500 million users: https://t.co/VERAzXeaqg
— Tuur Demeester (@TuurDemeester) February 13, 2018
The ETC network may also expand and add hashing power and higher security, after one of the leading mining companies, ViaBTC, proposed a new mining pool.
ViaBTC @ViaBTC Announces Zero Fee ETC Mining ⛏
— Ethereum Classic (@eth_classic) February 12, 2018
The ETC Community
The community around ETC is comparable to that of Monero, at least according to one of the community coders, known as Pyskell. ETC manages to move forward and achieve consensus with a rather broad community of users, only partially directed by voluntary developers and temporary leaders.
Still, the future of ETC depends mostly on the efforts of the developer team, and the news they release often serve to boost prices. In addition, ETC representatives often visit blockchain events, further increasing the project’s visibility.
ETC as an Investment
The price of ETC has been volatile, and has seen runs from $9 to $45 and back down to $15. These types of price movements may necessitate some trading to make the best of ETC price growth and realize some profits.
— Cryptonaire (@cryptonaire_com) February 12, 2018
Cryptonaire previews crypto assets with the help of a team of analysts, and only offers the picks deemed more promising and safer. Still, the recommendation of ETC comes with the obligatory volatility warning.