Ethereum Classic (ETC) is one of the oldest cryptocurrencies and still maintains its place among the top altcoins as it has reached a market capitalization of over $10 billion and is trading at over $100. It was created as a result of a split between the developer and user communities, as was the case with Bitcoin and Bitcoin Cash.
Differences in functionality increase over time, creating large differences in rate and capitalization. However, Ethereum classic is still an excellent choice for diversifying your investment portfolio in the cryptocurrency market.
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So let's take a look at what ETC is and the future rate forecast for the coming years.
What is Ethereum Classic?
The classic Ethereum coin was created in July 2016 as a result of a split in the Ethereum community after the original blockchain was hacked. In fact, the two blockchains – Ethereum and Ethereum Classic – were similar at first . However, differences emerged over time as the classic Ethereum network community wanted the blockchain to run on a proof-of-stake consensus algorithm and ensure the immutability of the blockchain. However, the Ethereum community wanted to develop it into a much more advanced digital currency based on proof of stake.
As with Ethereum, Ethereum classic uses the Ethereum Virtual Machine (EVM) to run scripts and connect its nodes. As of December 2017, its total supply is tightly capped at 210,700,000 ETC. Similar to Bitcoin, which has its reward halved, Ethereum classic reduces its block reward by 20 percent every 5,000,000 blocks. Thus, in some aspects, Ethereum Classic has become more similar to Bitcoin than to its original source, Ethereum.
Today we see that Ethereum Classic has fallen behind the original Ethereum, which is managed by the Ethereum Foundation. Ethereum trades at a much larger market capitalization and has gained much more popularity. However, ETC is still very popular and can be purchased on almost every cryptocurrency exchange.
conclusions
Since its launch, Ethereum Classic has revolutionized several sectors. Many regulatory authorities have approved the coin and a team of specialized developers is working hard to promote it and increase its level of acceptance.
This guide is a self-assessment of how well ETC has been successful in the past and the chances that it will be successful in the future. So that's it for now. Our website is regularly updated with new material to help you in any way possible.
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Is it worth investing in Ethereum Classic?
Comparing the returns of Ethereum and Ethereum classic, we see that Ethereum has performed significantly better in recent years. Looking at technical analysis over the past few years, ETC/ETH has traded in a range of 0.025-0.060, indicating a cyclical nature in which of the two cryptocurrency markets performs best. However, in 2022 we saw Ethereum significantly outperform ETC, resulting in a new yearly low for ETC/ETH of around 0.005.
If you look at the performance compared to the Bitcoin price, you can see even worse performance. The ETH/BTC price fell much more from a high of 0.004 in 2022 to 0.0002 in the early months of 2022. Consequently, the digital coin is not that attractive to a serious investor, despite Ethereum Classic's frequent bullish news. The demand for the ETC coin simply cannot exceed the demand of the two market leaders - Bitcoin and Ethereum.
Looking at the ETC price against the US dollar, the classic Ethereum forecast is bullish as it has seen a sharp upward surge in recent weeks. However, ETC is currently in a recovery phase as the previous momentum has been exhausted. This means that Ethereum Classic is likely to fall further, meaning that trading it right now may not be the best option.
History of appearance
Ether Classic appeared in mid-2016 after the Ethereum hard fork. It is Ether Classic that is the “keeper” of the Ethereum source code, however, after changing the name, it is often mistakenly considered a fork of Ether. Now it shows good stability and price, despite periodic corrections in the cryptocurrency market. Recently, holders of this crypto received a drop of Callisto (CLO). All ETC holders received CLO coins in a 1:1 ratio. This event was preceded by good growth, which gave way to a sharp decline after the fork. However, in the summer, Classic showed good results against the backdrop of Coinbase’s announcement about the listing of this coin.
Ethereum Classic Forecast for 2022
Ethereum Classic's forecast for 2022 is generally optimistic. As the chart shows, bullish momentum has resumed in recent months, with the market initially rising to the $50 mark in mid-April and mounting a further rally of over 400 percent in May. Therefore, investing in fiat currency ETCs or their CFDs should lead to further gains until the end of 2022.
Once the current multi-week pullback ends, cryptocurrency trading in the upside direction should result in further gains as the next major milestone for 2022 is set at $1,000. If we look at two more rallies seen in recent months, this ETC forecast should be reached by the end of the summer.
Several other ETC/USD forecasts estimate a much lower high price of around $400, with minimum price targets even lower. However, given the current bullish momentum, we should see ETC going much higher this year.
This forecast suggests that the overall cryptocurrency market will continue to strengthen later this year. As is the case with most altcoins, if the overall market starts to slow down, we should see this happen on Ethereum Classic as well.
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Ethereum Classic (ETC) is described as a cryptocurrency platform that was launched following a large-scale cyberattack that resulted in the theft of 3.6 million Ethereum (ETH). Ethereum Classic (ETC), which resulted from a hard fork leaving the Ethereum (ETH) blockchain, aims to protect the integrity of the blockchain in question. Ethereum Classic (ETC) is a platform used for developing decentralized applications (DApps) and smart contracts. Ethereum Classic (ETC), which emerged in response to a cyber attack, was widely accepted and managed to attract the attention of important investors. The platform, whose native token is ETC, uses a so-called proof-of-work consensus mechanism to secure the blockchain. So what steps do you need to follow to buy Ethereum Classic (ETC)?
To buy Ethereum Classic (ETC), you must first open an account on the Binance exchange. After creating your account, click on “Markets” and “Categories” respectively. Enter "ETC" in the search bar. You will see a line with information about the Ethereum Classic (ETH) price, 24-hour change and market capitalization. Click on this line.
Once you open the ETC/USDT transaction page, you can easily buy ETC from the ETC trading section on the right. On the other hand, you can buy ETC from different exchanges.
We've explained how to use the Binance exchange to buy Ethereum Classic (ETC). The listed exchanges are ETC ETC for trading/USDT ETC/BUSD, ETC/BTC ETC/ETH, ETC/EUR, ETC/BNB, ETC/BRL and ETC/GBP as the process offers pairs. Besides Binance, you can also choose the following exchanges:
— Huobi Global — Bithumb — Coinbase Exchange — Gate.io — KuCoin — Bitfinex — Kraken — Bittrex — Poloniex — OKEx — BigONE — WazirX — ProBit Global — CoinEx
We share different assessments for those who are looking for answers to their question.
According to Digital Coin Price forecasts, the price of Ethereum Classic (ETC) will reach $85.52 in 2022, and will rise to $100.72 in 2023. The price of Ethereum Classic (ETC), which is estimated to rise to $123.71 in 2024, is expected to reach $147.04 in 2025. The price of Ethereum Classic (ETC) is expected to rise to $171.04 in 2026.
Wallet Investor states that the price of Ethereum Classic (ETC) could reach $84,984 in 1 year and could rise to $215,229 in 5 years.
Gov Capital indicates that the price of Ethereum Classic (ETC) could rise to $63,359 within 1 year and states that it could reach $177,505 in 5 years.
What will Ethereum Classic (ETC) look like in August-December 2021?
According to Digital Coin Price estimates, Ethereum Classic (ETC) price averaged $79.8 in August, $79.52 in September, averaged $68.6 in October, averaged $70.1 in November and December, according to Digital Coin Price estimates. Per month it can be at the level of 76.7 dollars. .
According to Trading Beasts, the price of Ethereum Classic (ETC) in August 2022 is projected to be $42,736, while the expected minimum price is $36,325 and the expected maximum price is $53,420. Ethereum Classic (ETC) September price is estimated to be around $43,428, with an expected low of $36,914 and an expected high of $54,285.
While the Ethereum Classic (ETC) price is projected to average around $44,133 in October, the expected low price is $37,513 and the expected high price is $55,166. The November price of Ethereum Classic (ETC) is estimated to be around $44,896, with an expected low of $38,162 and an expected high of $56,120.
Ethereum Classic (ETC) price is projected to average $45,668 in December, while the expected minimum price is $38,818 and the expected maximum price is $57,085.
Although Ethereum Classic (ETC) has lost credibility over time due to cyber attacks, it was one of the assets that recorded the largest increase in value in the second quarter of 2022. While Bitcoin (BTC) lost about 39 percent in value, Ethereum Classic (ETC) rose 297 percent in the process. The asset that gained the most value was Dogecoin (DOGE). The said asset increased by 392 percent.
Investors have had security concerns as Ethereum Classic (ETC) has suffered multiple 51% attacks. (A 51% attack refers to taking over a blockchain network and manipulating transactions.)
Ethereum Classic (ETC) was trading at $5.68 at the start of 2022. Ethereum Classic (ETC), which topped $10 on February 10, 2021, rose to $20.81 on April 7, 2022. Ethereum Classic (ETC) reached $46.07 on April 16, 2021.
Following a major rally, Ethereum Classic (ETC) hit an all-time high of $176.16 on May 6, 2022 after rising to $100 on May 5, 2022. Ethereum Classic (ETC), which has been in a downtrend since that date, was trading at $57.53 in early July. Ethereum Classic (ETC), currently $47.73.
ETH 5-year forecast, 2026
According to cryptocurrency expert Bobby Lee, the overall crypto market will continue to grow over the next five years as Bitcoin is expected to reach $300,000. Thus, the ETH Classic forecast remains optimistic for the five-year period.
As Ethereum Classic continues to develop additional features such as smart contract and decentralized application execution on the Ethereum network, we expect the Ethereum Classic forecast to reach the $5,000 mark by 2026. Making a long-term forecast for the coming years is a relatively safe bet, as it is still among the most traded assets on almost any cryptocurrency exchange.
FAQ
Will the price of ETC increase?
The price direction of Ethereum Classic will depend on how the protocol develops, its further adoption, as well as the direction of prices in the cryptocurrency markets.
How much will Ethereum Classic be worth in 2025 and 2030?
Predictions for the price of ETC by 2025 vary, with some believing that the price will decline and others that it will continue to rise strongly. WalletInvestor predicts that ETC will trade at around 54 USD by 2025, while Digitalcoin predicts it will average 239 USD.
How can I buy and trade Ethereum Classic?
You can buy ETC from cryptocurrency exchanges such as Binance and Kraken and store them in a digital wallet.
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Pros and cons of the Ethereum electronic coin
One of the advantages of Ethereum is that it has become a launching pad for the emergence of new projects. The following ICOs have been implemented based on ERC-20 (and this is only a small part):
| Name | Token | Scope of application |
| Taylor | Tay | Analyzes information from exchange trading and sends the user a signal about the best moment to enter a transaction |
| NTOK | Ntok | A decentralized platform that is being created to organize a learning system in the digital space |
| Tutellus | TUT | A system that is aimed at attracting everyone who wants to learn and teach, using an original incentive system. Remuneration should be received not only by those who teach, but also by those who learn |
| Node-power | Node | Wireless power transmission technologies |
| Skyllz | SKT | Platform for organizing a new type of labor market |
They cover all spheres of human activity, and the market decides which of them will survive.
Large companies such as Intel and Microsoft became interested in Ethereum, and the Enterprise Ethereum Alliance (EEA) was created in 2022. This is an international association of companies that would like to use smart contracts. In 2022, this association celebrated the sixth anniversary of Ethereum, which is a long time for a cryptocurrency.
The main disadvantage of Ethereum is the low scalability of the system. Every time there is a large ICO, problems arise. Currently, third-generation blockchain systems are being created that are trying to increase transaction speed and scalability, and create synchronization between two different chains. This will allow different blockchains to work together. Many people call such technologies breakthrough, and Ethereum may lose out over time.
But in reality this will not happen quickly (if at all). The systems being developed are many years ahead of reality and the process of their implementation will be lengthy even in developed countries.
Compared to these networks, experts no longer consider Ethereum to be an advanced currency. But everyone recognizes it as a good system, where many errors have already been taken into account and worked out.
