Ethereum Classic (ETC) has been in top 10 most traded coins over the past couple of weeks following the recent drop in prices. The cryptocurrency has gone through a steep 32% fall wrecking the hopes of its investors across the world. However, most of the coins in the market have also gone through rough patches.
Ethereum Classic price caught the attention of many cryptocurrency enthusiasts because of its continuous classic drop from highs of $32 traded on March 1, 2018, to lows of $18.04 at the time of writing this article. On the contrary, it is not all bad news as currently, Ethereum Classic is correcting higher is has recorded 10.69% increase in price over the past 24 hours according to CoinMarketcap.com. A bullish trendline is forming as seen on the daily price chart and if the crypto market regains stability, Ethereum Classic could regain its position as the fastest rising cryptocurrency in price.
The 15th cryptocurrency by market capitalisation, Ethereum Classic (ETC) was built on the initial Ethereum blockchain. Furthermore, it is not subject to any intrusions, for instance, hacking attempts, alteration of exchanges as well as other digital asset scams and manipulations. Ethereum Classic is making progress in the global cryptocurrency industry.
Currently, the team behind the crypto have already figured out the way to build a couple of hardware wallets for storage of the coins; the Ledger hardware wallet and the Trezor hardware wallet. These two wallets are created with top security features and considerations to ensure that users safely store their ETC. Consequently, their Github page indicates that Ethereum Classic has 15 mining pools. Besides, it has been listed on some of the largest cryptocurrency exchange platforms, for example on Bittrex and Bitfinex as a gesture of widespread acceptability.
The digital currency market is very dynamic. Innovations and advances in technology are almost a common occurrence. Therefore, the Ethereum Classic team has positioned itself at the forefront of suitable technology advances in 2018. They have reviewed and adjusted their long-term interest to their growing community. For example, the recently grayscale launched Ethereum Classic Investment fund can follow the ETC market for the holders, reduce the charges as well the costs. In addition, the Ethereum Community has now adopted a static cap monetary policy.
The team at Ethereum Classic (ETC) has also been expanding and bring on experienced talent. Richard Schumann is one of the recent additions to the team. He will be in charge of improving the graphics to ensure that end users have an easy time engaging with the ETC ventures. On the other hand, another team member, Mario Michel is expected to control the community channels, especially the newly started ETC Italia Telegram. Moreover, Ethereum Classic aims to integrate with the traditional electronic money transfer systems. Recently, ETC was added on Centra Cards to allow users to go through their ETC with a debit card.
What next for Ethereum Classic?
The dedicated team at Ethereum Classic have made some resolutions in 2018. The developers are committed to ensuring that the flexibility of sidechains is highly enhanced. They will also build an Emerald portable wallet; besides, they intend to join operations and bring forth the similarity of ETC and other digital assets. Ethereum Classic also plans to improve its tradable token; Classic Ether to pave the way for future developments. As stated earlier, the price of ETC has been up and down, the ETC coder, Pyskell is committed to unearthing the effects of this fluctuations and possibly strive to settle them to allow the currency to appreciate.
It is not easy to predict the fate of a cryptocurrency, Ethereum Classic included. However, the development of sidechains will encourage exchanges at no fee. Besides, it has the adaptability of being used privately or publicly. Overall, the team at Ethereum Classic has a clear roadmap for the future of the coin; ETC still has a promising future. Only time will tell as Ethereum Classic (ETC) goes through the roller coaster in the volatile cryptocurrency space.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.