Ethereum Classic (ETC) Price Analysis: ETC’s 6 USD Mark May Soon Come True

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Ethereum Classic (ETC) was initially a single and large cryptocurrency. But it was divided into after a major hacking theft in 2016. Ethereum was taken out of this crypto, and it was named Ethereum Classic (ETC) since then. Ethereum and Ethereum Classic (ETC) have a common token called Ether, and it can be transferred between the participants of these two cryptos. Ethereum Classic (ETC) is an open source distributed computing platform which is based on blockchain technology. It provides a smart contract and a decentralized Turing-complete virtual machine, which is called Ethereum Virtual Machine (EVM). The transaction pricing mechanism “Gas” is used for preventing spamming of the blockchain network.

Ethereum classicEthereum Classic (ETC) is ranked at 21st in the cryptocurrency market due to its market cap size. It has a return on investment (ROI) of 622.23 %. The maximum possible supply prescribed by ETC is 210,000,000 ETC. The current circulating supply and the total supply as of now rest at the same figure of 109,483,161 ETC. The year started for Ethereum Classic (ETC) after breaching 5 USD mark. But, in these 90 days, it has run downwards reaching as low as 4.1 USD. The current market cap is 593,944,651 USD on 05th April at 03:04 UTC. At the same UTC, the price of each coin stands at 5.42 USD, and in terms of BTC, it is 0.00109860 BTC. The 24 h volume is at the current UTC is 400,870,271 USD.

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As mentioned earlier, the price trend of Ethereum Classic (ETC) has shown many ups and downs in the last month’s period. By comparing the data of one month back with the recent data, we can see that the degree of change in the price of this crypto. The market cap of Ethereum Classic (ETC) on 05th March was 448,870,843 USD, and the price of each coin in terms of USD stood at 4.13 USD and in terms of BTC stood at 0.00109815 BTC. The current market cap is 32.31 % more than the last month’s figure. And the recent value of each coin in USD is 31.23 % more than the value of March 05.

After falling for straight two days, the price of Ethereum Classic (ETC) has increased recently. It was nearing 6 USD but failed to continue the momentum for long. The current mark 5.42 USD also is not going to be there for a longer time. It is surely going to gain momentum. The next stop for the investors should be 6 USD, and in the next quarter, the price may reach as high as 8 USD. So, for short term investors, this may be the perfect place to lock their positions and leverage their lower positions for a greater profit in the recent future. Long term investors can already see the 50 % gain in 3 months, and if they hold their standing for little longer, the profit % may reach as high as 150 %.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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