Ethereum Classic ETC live coin price, charts, markets & liquidity

The Worst year in which the etc market declined from $28 to $3.34 is 2018. Extended sell-off sub $16.46 throughout the day can bring the second major support at $13.00 into play. The start of 2019 was bearish as well for Ethereum Classic with lows of around $3 in January. From February to May 2019, ETC price saw a more stable period of growth and managed to trade at over $8, reaching $9 in June as the new high for the year. By the end of 2019, ETC price had been through numerous changes caused in part by high volatility, trading between $8 and $3.

A benchmark is a standard against which the performance of a security, mutual fund or investment manager can be measured. The way ETCs are structured varies depending on the company issuing the product. Certain exchanges, such as the London Stock Exchange and Australian Securities Exchange , offer products called ETCs that have a specific structure. OKX offers the ETC/USDT, ETC/USDC, ETC/BTC, ETC/ETH, and ETC/OKB trading pairs. Alternatively, you can buy ETC directly with fiat or convert your crypto to ETC. The price of ETC has historically been heavily correlated to ETH price movements, according to OKX's ETH and ETC charts.

Understanding Exchange-Traded Commodities (ETCs)

A futures contract is a standardized agreement to buy or sell the underlying commodity or other asset at a specific price at a future date. The material and information contained on this website is for informational purposes only and ETC Management Ltd, its affiliates, and subsidiaries are not soliciting any action based upon such material. The material and products do not represent or shall not be inferred as an offer or a recommendation to buy or sell a security, nor shall it be considered or treated as investment advice.

This Group meets 4 times throughout the course of the year to steer the ongoing projects and studies. The current circulating supply for Ethereum Classic is 139,797,976 ETC. In the last 24 hours, the price of Ethereum Classic has changed by 3.28%. To view the price of Ethereum Classic in the currency of your choice, select a base currency at the top of the page. Around 2 million ETH were staked when prices were in the range of $400 to $600. These stakers are some of the strongest Ethereum believers, according to Binance Research.

What is Ethereum Classic's maximum supply?

He brings unique experience in managing and structuring complex projects, as well as knowledge about the relevant technology to the venture. Bradley has spent most of his career in regulated Financial Services as well as young technology companies. He worked for investment bank Jefferies at their offices in New York, Paris and London, and then at the trading powerhouse KCG in London where he headed the team at Knight Direct Europe. Bradley co-founded fin-tech and payments company Zapper, and most recently was CEO of the UK branch of the investment bank BCS Global Markets. Unlike Ethereum, which does not have a supply limit, ETC supply is limited to 210.7 million tokens. This is because ETC has adopted a deflationary approach where the scarcity of tokens over time is expected to drive up ETC prices.

To prevent potential future security breaches, the Ethereum network performed a hard fork which resulted in a split and a new cryptocurrency, Ethereum Classic. Ethereum Classic operates on the old blockchain and Ethereum on a new one that was created with the hard fork. An exchange-traded commodity is a type of security that can offer traders and investors without direct access to spot or derivatives commodities markets exposure to commodities such as metals, energy, and livestock. An ETC can track individual commodities or a basket of several commodities and can provide an interesting alternative to trading commodities in the futures market. At ETC Group, we are setting the gold standard in institutional-grade exchange traded products that provide access to the digital asset and the blockchain ecosystem.

Despite these philosophical differences, Ethereum Classic and Ethereum work similarly. Q Cryptocurrency Report Altchain narratives are still going strong while the entire market undergoes a correction in light of growing macroeconomic woes. The community is bullish as more than 68% of users are feeling good about Ethereum Classic today. Like Ethereum, Ethereum Classic makes it possible to issue ERC-20 standard tokens. Ethereum Classic, however, is incompatible with updates to the Ethereum network, such as the Ethereum Merge. Binance has the lowest transaction fee rate amongst all major trading platforms.

• Instead, it focuses on maintaining the original properties of Ethereum's blockchain, which its global community believes is more true to the spirit of Satoshi Nakamoto's vision for Bitcoin.
• In 2016, following the establishment of Ethereum's smart contract functionality, a protocol named The DAO emerged as the first-ever decentralized autonomous organization.
• While Ethereum Classic offers similar functionality to Ethereum, it uses a PoW consensus model and has no plans to switch to a proof-of-stake model like Ethereum did after the Merge.

Please contact your broker or financial adviser for further information. To buy ETC with your preferred fiat, click "Buy with card" under "Buy Crypto" on the top navigation bar. To trade ETC/USDT, ETC/USDC, ETC/BTC, ETC/ETH, or ETC/OKB, click "Basic Trading" under "Trade." Under the same tab, click "Convert" to convert crypto to ETC. Due to the novelty of The DAO and the perceived viability of its use case, it raised $150 million worth of ETH during its crowdsourcing campaign. But unfortunately, there was a vulnerability in The DAO's smart contract.

ETC price

The former are referred to as https://www.beaxy.com/ contracts, which allow for the creation of decentralized applications . One of the main aims of Ethereum Classic is to always enable censorship-free execution of such smart contracts. Ethereum Classic further distanced itself from Ethereum over time, as it put a hard cap on ETC’s maximum supply and adopted a Bitcoin-like deflationary monetary policy by introducing a regular reduction in block rewards. It aims to be the go-to platform for smart contract development which helps developers create unstoppable applications. Due to the availability of smart contracts on Ethereum Classic, it is possible to host tokens and build decentralized applications on the ETC blockchain. In other words, applications launched on Ethereum Classic can issue and manage their native tokens.

However, a hacker stole $3.6 million three months later, by exploiting a bug in one of The DAO’s smart contracts. However, the miners and users, aggrieved at this move, decided to stay on the original Ethereum blockchain, which later metamorphosed into the Ethereum Classic network. In 2016, following the establishment of Ethereum's smart contract functionality, a protocol named The DAO emerged as the first-ever decentralized autonomous organization. The DAO was supposed to allow participants to pool capital and jointly decide on the projects they would invest in.

Ethereum Classic price is often subject to major price fluctuations, caused by a multitude of specific factors that influence the price and form trends in the market. The MIG holds its Annual Market Intelligence Group Meeting in February every year. The resulting Research Programme is steered by the Market Intelligence Committee – a group of volunteers from the research departments of 11 of our 34 member NTOs.

Powell also warned that banks should be "quite cautious" about getting involved in digital assets. AdvisorShares CEO Noah Hamman weighs in on bitcoin fundamentals amid recent macro headwinds. Plus, Ordinals Protocol Creator Casey Rodarmor shares his reaction regarding Yuga Labs' latest bitcoin NFT collection. SoFi Crypto is offered through SoFi Digital Assets, LLC. Bitcoin and other cryptocurrencies aren’t endorsed or guaranteed by any government, are volatile, involve a high degree of risk, and are unsuitable for most investors. For more information on digital asset risk see FINRA, SEC, and CFPB public advisories.

Ethereum Classic Markets

By signing up, you opt-in to receiving future newsletter communications from ETC Group. Any data collected will be processed according to ETC Group's privacy policy. You may change your preferences or opt-out of communications at any time. Monique is qualified in England & Wales, New York and Ontario, and has practised in a broad range of legal areas including finance, corporate/commercial, regulation and litigation.

Additionally, the material accessible through this website does not constitute a representation that the investments described herein are suitable or appropriate for any person. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on any information. The emission reduction schedule of ETC initiates after 5 million blocks have been added to the blockchain. And since it takes roughly 2.5 years for 5 million blocks to be processed on Ethereum Classic, the subsequent block reward reduction will occur sometime in the third quarter of 2024.

The higher the demand the higher the price, while the value of Ethereum Classic would decrease in the case of negative sentiment, bearish market cycles, negative trends, and major market dips. The use of smart contracts is a major advantage of Ethereum Classic. However, ETC has to compete with the ambitious upgrades of Ethereum as its closest crypto peer in the sense of technology and blockchain architecture. Ethereum Classic was created as a hard fork of Ethereum in 2016 as the result of a hack on the Ethereum network in which DAO security was breached and 50 million dollars were stolen.

That is supposed to make ETC a better store of value than Ethereum, because its tokens are scarcer. When the Ethereum hard fork happened in July 2016, all investors who held ETH in their wallets were given the same amount of ETC coins for free. Its next noteworthy surge came during the crypto boom of 2018, when ETC price reached $43.76 on Jan. 13, 2018. However, it retraced to under $20 within a month and continued its fall further after a brief spike in February, trading well under $10 by Q3, 2018. Ethereum Classic is an open-source decentralized computing platform and cryptocurrency that launched as an alternative to the Ethereum network in 2016.

• An example of a commodity basket ETC, on the other hand, is one that tracks multiple metals or tracks a group of agricultural commodities, such as wheat, soybeans, and corn.
• But unfortunately, there was a vulnerability in The DAO's smart contract.
• It aims to be the go-to platform for smart contract development which helps developers create unstoppable applications.
• Luke has over 10 years of experience in the legal sector working for international law firms.
• Ethereum Classic traded at $0.98 when it was created and launched to the market in June 2016.

The price of Ethereum Classic depends on a wide variety of specific factors that help form its market value. Ethereum Classic has a capped max supply, which means that no new coins will be minted once all of the supply is in circulation. This fixed supply means that ETC isn’t subject to inflation like fiat currencies and an increase in demand will drive up its price. With the intervention by Ethereum’s team, the platform was able to return all of the stolen funds to their owners. ETC is used on the Ethereum Classic blockchain in a similar manner to ETH on the Ethereum network. ETC is used as a peer-to-peer payment token and to secure the Ethereum Classic blockchain.

These include several 51% attacks to gain control of mining hashrate and execute spurious transactions and double spend coins, the most recent of which occurred in August 2020. Ethereum Classic first set out to preserve the integrity of the existing Ethereum blockchain after a major hacking event led to the theft of 3.6 million ETH. The price of an ETC rises and falls along with its underlying commodities and, like other investment funds, ETCs charge management fees.

Ethereum Classic currently sits below all exponential moving averages. The price of Ethereum Classic has experienced significant changes, going from lows of $0.61 to highs of $47, and its movement has often been characterized by surges and crashes. European Travel Commission is the non-profit organisation responsible for the promotion of Europe as a tourist destination in third markets.

Ethereum Classic also maintains the Proof-of-work blockchain consensus model while Etherem moved to Proof-of-stake in the second phase of a three phase Merge which is expected to be completed sometime later in 2023. The launch of Ethereum Classic came after the 2016 Ethereum DAO hack, which resulted in a fork of the Ethereum blockchain. The Ethereum network as it exists today is the forked chain, while Ethereum Classic is the original chain upon which the DAO hack occurred.

This text is informative in nature and should not be considered an etc market recommendation. Any investment or trading is risky, and past returns are not a guarantee of future returns. Fundamental analysis focuses on the wider economic state of the market, as well as dev team activity, LINK new upgrades, updates, and the overall value of ETC utility. Events like partnerships, adoption, and government regulations can also affect the price of ETC and are observed through the use of fundamental analysis.