Ethereum Classic (ETC) Might Hit the $8 Mark in The First Week of May

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Ethereum Classic (ETC) is a new and upgraded version of Ethereum. The blockchain was launched after a hacker exploited a loophole on June 17th, 2016, where a total of 3.6 million ETH were stolen worth around $55 million during that time. Aimed to remedy the damages from the hack, Ethereum Classic (ETC) is the continuation of the original Ethereum blockchain. Not to forget that ETC is a result of a hard fork from original Ethereum and is one of the best performing cryptocurrencies. Although in 2018, ETC’s value declined by almost 90 %, there is a positive growth in the coin, and it slowly is getting back to its original position.

Ethereum classicAccording to Coinmarketcap, on April 24, at UTC 10:24, Ethereum Classic (ETC) was trading at 5.58 USD. At the same time, it’s market capitalization was around 613,427,733 USD. Moreover, the Ethereum Classic’s last 24 hours trading volume was approximately 448,905,145 USD. Ranked at 18th position in the cryptocurrency ranking chart, Ethereum Classic’s Return on Investment (ROI) rate 641.53%. Against Bitcoin, it was valued at 0.00101626 BTC per chip. On March 30, Ethereum Classic (ETC) was trading at 4.79 USD, since then it saw slight growth and today after 25-days, it is trading at a rise of almost 16.5%.

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Let’s have a look at historical fluctuations in the price of Ethereum Classic (ETC):

Time Period High Low
All-Time 47.77 USD
(Dec 21, 2017)
0.452446 USD
(Jul 25, 2016)
Yesterday 6.13 USD 5.88 USD
7-days 6.39 USD 5.46 USD
30-days 7.92 USD 4.63 USD

Yesterday was almost a flat trading day for Ethereum Classic (ETC) as it opened at 5.94 USD and closed the day at 5.96 USD, with an intraday hike of 0.018409 USD (0.31%) and a cumulative trading volume of 392,368,632 USD.

Ethereum Classic (ETC) Prediction:

In the crypto market, there is high hope when it comes to Ethereum Classic (ETC). The recent major update regarding Ethereum Classic is the development of embed SVM technology. The latest technology will allow EVM, i.e. Ethereum Virtual Machine and SpitnikVM to be used in embedded applications. Another good news in its favor is the upgrading of ETC JIT compiler that will help in translating of byte code to the native code.  The upgrade will decrease the time of program implementation by 3 to 4 times. On the top of that Ethereum Classic (ETC) developers have a roadmap for the EVM backend objective for LLVM. Looking at the current ventures of Ethereum Classic (ETC), many analysts have predicted for a bullish year ahead in Q2 of 2019; ETC may hit $ 8 mark in the first week of May and reach $35 by the end of the year.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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