Ethereum Classic has been experiencing surges in this month, where it reached $9.75 on 4th of June, 2019, which is the highest price since April, 2019. The month of May experienced six major peaks, wherein $8.01 was the highest for that month, which was achieved on May 20, 2019. ETC is a result of Ethereum hard fork and is one of the best performing digital assets till now.
The forthcoming Atlantis might contribute highly to ETC's success in preventing further attacks or hacks. Atlantis is a continuation of the actual ETH blockchain, which is one of the two protocol upgrades aimed at incorporating EIPs. This might turn out to be a game changer for ETC as it might enable the migration of dapps much easier between the networks. Still, the discussion around EIP170 is going on and might take some time.
Moreover, Ethereum Classic has been considered a “blue-chip” cryptocurrency, which means it can provide so much of return, you don’t need to think of any other smaller cryptocurrencies. Moreover, Coinbase enlisted ETC and started supporting it giving it a double boost, which in itself is a hallmark that ETC is going to go to greater heights. Currently, Ethereum Classic (ETC) is trading at $7.79 with ETC price 2.71% down today. The market cap of Ethereum Classic is USD 874,277,906 with 111,010,029 ETC circulating currently. The 24-hour price movement chart indicates that $728,852,907 worth of ETC was trading. The price peaked to $8.2000 in the last 24 hours while the lowest price was $7.8200.
Right after the decentralized exchange anonymous organization (DAO) was asked, Ethereum was forked to give rise to Ethereum Classic. Ethereum Classic is a blockchain-based open-source computing platform, having smart contract functionality, which was released in 2015. Ethereum Classic came into existence when some of the members of the ETH community didn’t approve the hard fork on grounds of immutability.
On October 2016 ETC underwent a technical hard fork to adjust the internal price running on Ethereum Virtual Machine (EVM).In July 2016, more specifically at block 1,920,000 the hard fork was being executed, where the chains were split into two and since then they have been acting individually. Ethereum Classic became a parallel blockchain, where in contrast to Ethereum the stolen funds were never returned to their owners. ETC is one of the top 20 cryptocurrencies in the world, with high potential to grow, as compared amongst the other hard forks.
Currently, Ethereum Classic is trading at $9.1677 with a market capitalization of 1,021,934,829 with 111,471,527 ETC as the circulating supply. The 24-hour price chart indicates that $773,094,980 worth of ETC are trading, of which the peak price was $9.4100 and the lowest price was $9.1200. (ETC coin news)
The market is quite enthusiastic on Ethereum Classic (ETC) and its potential to grow in the upcoming years. Let us see at what various websites have got to say about ETC and its price.
Bein Crypto is a crypto prediction website which predicted that by the end of 2019, ETC might be 10X more than what it is now and might even touch the $50, $100 by 2020 and might reach $200 in 5 years, which might give a tough competition to its parent, Ethereum.
Long Forecast is specialized in giving a conservative prediction. It has yet again given a pessimistic bearish prediction for ETC, stating that Ethereum Classic might go down to around $2, which is almost half of what it is today.
Digital Coin Price predicted that by the end of 2020, Ethereum Classic might reach $6.56, which is not at all an impossible scenario.
Trading Beasts also gave a conservative, yet pragmatic forecast, where they stated that by 2019 end, ETC might reach as high as $27.15 and as low as $18.46.
Wallet Investor gave the most bearish prediction ever, where they mentioned that by the end of 2019, Ethereum Classic might fall down to as low as $0.272.
After the 51% attack on ETC network, where the attackers rented the hash power, which is required to control the network, Metronome (MET) released an update that it would develop contracts for deploying on the Ethereum Classic (ETH) network so that the transactions can be secured. Very recently, ETC Labs even introduced an ETC development team, which would be working on core ETC projects, wherein it would provide tools for decentralized applications development and supporting its blockchain services. These all developments gave ETC reasons to rise up from the ashes, and maintain its stability. By the end of 2019, ETC might reach around $35, which would give it a great boost. You can convert BTC to ETC at the best rate at CoinSwitch.
In the first quarter, Ethereum Classic is working on developing embedded SVM, which would be allowing EVM (Ethereum Virtual Machine) and SpitnikVM for embedded applications. BY the second quarter of the third quarter, there are plans of upgrading ETC JIT compiler, which will help in translating of byte code to the native code and will reduce the time of program implementation by 3 to 4X. Even ETC developers have plans of EVM backend objective for LLVM, which will help the developers get the opportunity to expose EVM interest to the LLVM community. It looks like ETC has got real plans for the entire year, and it is expected to reach $34.252 by the end of 2019.
Read more: Top Ethereum Classic wallets in 2019
By 2020, Ethereum Classic might improve on its scalability, along with interoperability with other blockchains, which is indeed a big step to attain greater heights. As per the ETC roadmap, they have plans of hybrid consensus research and mesh networks into their system by 2020. These will sort ETC to make it one of the best cryptocurrencies in the world. Meanwhile, due to these upgrades, ETC will get more partnerships, which might increase its value to $79.393. (Ethereum Classic Price Prediction 2020). You can convert ETC to BTC at the best rate at CoinSwitch.
In 5 years time frame, Ethereum Classic might reach newer heights and milestones. It might be considered as one of the top 10 cryptocurrencies in the world, and might give a tough competition to the leading cryptocurrencies. Ethereum Classic would gain higher in adoption all across the world and even in partnerships across the globe. By the end of 2025, ETC might reach $114.842. (Ethereum Classic future price prediction)
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2019-06-10 10:27:31.202815 | 2 min