Cryptocurrency

Promising Price Rise of 2.7 Percent in USD for Ethereum Classic, Attracts More Trade And Promising Future

eToro

Sound like; it is time to make a profit! As the crypto rates move up higher, so does the investments and trading. Ethereum Classic rates are constantly soaring. The rate of improvement exceeds the many other cryptocurrencies on the market.

The push behind the rise of Ethereum and other cryptocurrencies is the rise in the rates of Bitcoin BTC. Today as the Bitcoin started to move up, it naturally had a positive effect on all the other cryptocurrencies’ rates. At the end of the day, this dependency is kind of a love-hate relationship. It most definitely works well for most of the crypto markets when we see an overall soaring and bullishness in the crypto market.

eToro Crypto

Ethereum Classic prices saw a 2.7 percent rise in U.S Dollar value. Looking at the Bitcoin value, it has soared up with 2.1 percent. This improvement in the prices points at the potential upcoming bullish tendency of the crypto domain. Ethereum Classic rates have now reached 4.41 U.S. Dollar or 0.0011 BTC. Although the exciting news has put Ethereum Classic and other cryptocurrencies in the green light, but any further push would take a lot of momentum as the foundation is not that strong as of yet.

Looking at the trading volume, which serves as a defining factor in the rise of the downturn of any crypto coin, currency or assets, in this department too, Ethereum Classic is strongly holding its grounds. It has reached 173.123 Million U.S Dollars. This achievement makes sure that there will be no massive rates fluctuations shortly, as this trading volume accounts to be one-third of the Ethereum Classic’s market capitalization. Given the scenarios remains constant, a smooth crypto trading can be expected in the coming times.

The positive vibe has spread to the social media discussions in the light of Ethereum Classic’s market performance. For instance, Land Wolf expressed interest in having Ethereum Classic to be introduced on Coinbase payment option. This would be a good move for the Ethereum Classic, but as of now, there are no such real plans in this direction. On the other hand, looking at the use of Dash in payments, the user thinks that ETC will serve as a better payment option in comparison.

Further Ethereum Classic might roll into the shoes of wrapped Bitcoin, and many similar projects. There are speculations that Ethereum Classic may be rolled into Ethereum ecosystem in a similar wrapped version. This idea is not entirely brand new since it has been used for other cryptocurrencies such as Bitcoin. Nevertheless, the promise and potential benefits this idea’s implementation will bring on the table will only help the crypto market as a whole.

Although, being the top asset in the crypto market, the price of Ethereum Classic still usually tends to have a neutral effect on the crypto prices overall. Yet since there has been a movement in Ethereum Classic rates and BTC rates, it will be interesting to see what effect they both have together of the market prices.

On the other hand, the Ethereum Classic team recently shared a quote by Sir Winston Churchill that reads as-

“A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.”

Looking at the latest Ethereum Classic’s market performance, the crypto has claimed the spot of 18th rank in the crypto market with the trading price of 4.42 U.S. Dollars. The market cap of Ethereum Classic is approximately 476 Million U.S Dollars. The current trading volume is 175 Million U.S. Dollars. This reflects that Ethereum Classic is gaining good attention from crypto investors and traders since it is performing much better than many other cryptocurrencies currently.

Market experts are seeing the cryptocurrency as ‘consistent with a frame.’ The active areas where the cryptocurrency is gaining exchanges are from Japan, South Korea, and other parts of Asia. Such bullish trends if stay constant then there awaits a bright future for the cryptocurrency.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

Related Articles

Back to top button