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Price Analysis

Ethereum Classic Price Analysis: Facing A Bearish Market Trend, Introduced Smart Contract for End-Users on Blockchain

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Ethereum Classic recently introduced smart contracts for end users. Earlier it was a difficult task for any user to build & manage the smart contract. However, ETC team has taken a bold step in curbing down the hindrance by leveraging familiar interfaces, standardizing smart contracts (ready to be deployed and managed) and by introducing an executable B2B, B2C or C2C high-security decentralized programs.

Current Statistics of ETC Price:

  • On July 14, at UTC 10:51, Ethereum Classic (ETC) vs. USD was trading around $5.907.
  • Along with that, ETC vs. Bitcoin was trading around 0.00055244 BTC per chip.
  • At present, Ethereum Classic is placed at 20th position in cryptocurrency chart.
  • In addition to that, the market capitalization of the altcoin was 669,642,198 USD.
  • Additionally, the 24-hour trading volume in the altcoin was 469,359,860 USD.
  • At the time of writing, the number of Ethereum Classic chips circulating in the market were 111,936,374 ETC, having a return on investment of 695.16%.

ETC to USD Comparison:

Ethereum Classic price chart - july 14

On June 19, Ethereum Classic (ETC) was trading around 8.615 USD. Nevertheless, today after 25-days, the altcoin is trading with a dip of 31.43%. Additionally, in weekly charts, the crypto has gone down by a huge margin of 25.19% from the market price of 7.931 USD on July 08.

Ethereum Classic Prediction:

According to our prediction, Ethereum Classic (ETC) will trade around $10 by the end of the year. In recent times, the coin has shown some sudden dips, but, it is expected to make a bounce back soon. Additionally, the immediate resistance for the altcoin is at 6.82 USD.

Conclusion:

In crypto space, all blockchains promise to be solving any particular problem, but only those stay relevant, who actually does. And Ethereum Classic (ETC) is one of the dependable ones. Although the price of the altcoin has declined significantly, there is no need to be worried, as the coin has strong community support. As far as trends are concerned, the short term is bearish.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.
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