The asset is promising a serious climb, preparing for the launch of trading on Coinbase.
Ethereum Classic (ETC) is preparing for launch, becoming one of the promising coins to achieve returns, as the listing on Coinbase is looming, though without a set date. Ethereum Classic is thus seen as one of the few “trains” that have not yet left the station, and the Coinbase addition may achieve results comparable to those of Litecoin (LTC).
The ETC digital asset is also one of the most popular for the Grayscale investment funds based on crypto coins. More than $72 million were invested in ETC, outstripping other coins.
ETC is one of the oldest bets for Grayscale, inviting the largest investments after Bitcoin. The high liquidity and relatively low volatility of the asset make it attractive, as well as the expectation that it is still underpriced.
Additionally, the Ethereum Classic community and development have been growing stronger, expecting a large meetup and updates in early September.
Right now, Ethereum Classic market prices hover around $16.40, up about 5% net this week, trading in the usual range for this asset, with a slight recovery after the most recent crash. ETC is also seeing support from an inflow of Tether (USDT) funds, as more than 36% of volumes hinge on the liquidity provided by the dollar-pegged asset. Another 30% share of trading falls to the Korean Won.
Ethereum Classic vs. Ether Emerald
Just like other popular projects, Ethereum Classic attracts scammers. The latest attempt of Ether Emerald is to syphon away funds in the disguise of an airdrop. The name of the dubious project recalls the Emerald Project, a legitimate development related to Ethereum Classic.
Others point out that the project is not a proven scam, but only creates confusion and has nothing to do with the Ethereum Classic Emerald wallet development.