Ethereum Classic (ETC) was created after splitting from its parent coin Ethereum after being subject to hacking theft. But these crypto coins have a common token called Ether. Ethereum Classic (ETC) is an open source distributed computing platform which provides value transfer between Ethereum and Ethereum Classic (ETC) as well. Its USP is a smart contract and a decentralized Turing-complete virtual machine – Ethereum Virtual Machine (EVM). The transaction pricing mechanism called “GAS” prevents the whole network from being spammed.
With 749.53 % of ROI (Return on Investment), Ethereum Classic (ETC) is ranked at 17th in the crypto market. It has a total coin circulation of 109,679,255 ETC. The current market cap on 13th April at 02:54 UTC stands at 698,716,181 USD. The value of each coin in terms of USD and BTC are respectively 6.37 USD and 0.00124956 BTC. The 24 h volume stands at 439,671,529 USD at the same UTC.
Ethereum Classic (ETC) started the year off with a higher note. But, it soon lost momentum and reached the lowest point of 3.74 USD on 6th February. Post this abysmal fall; it managed to grow on a consistent rate. But the highest growth was achieved after 1st April. But the last week again failed to retain the momentum for long. As of now, the coin’s value is falling. The market cap on March 13th was 469,145,119 USD, and the value of each coin in terms of USD and BTC were 4.31 USD and 0.00109842 BTC respectively. The current market cap and value in USD is about 47 % more than the value of March 13th.
The on-going negative market trend has made a perfect time for the investors to make a buying position. The value is not going to degrade further, as per our prediction. It has faced a price resistance at 6.3 USD, and now the coin is likely to rally with consistently. By the end of this week, Ethereum Classic (ETC) will start growing with resistance at 8 USD. So, short term, as well as medium-term outlook, is looking bullish. There is no sign of a bear in the long term as well. By the end of this year, the value may get to 12 USD – 15 USD. Short term investors are advised to buy now and lose their holding once Ethereum Classic (ETC) touches the next resistance. Long term holders need to wait till the end of this year.