Ethereum Classic (ETC) is now on the right course after taking a major drop in the last month. Over the better part of the last month of February, the ETC dipped to trade as low as $15.44. This was quite a discouragement for the users, especially considering that the coin was created to try and refund the users of DAO who lost their cash after the network was hacked resulting to a loss of about $50 million.
Ethereum Classic (ETC) was formed after a hard fork of the Ethereum network after the Hack that happened when DAO was using the Ethereum infrastructure. Ever since the development team of the forked Ethereum Classic, have been on their toes to do everything possible to try and “code the stolen funds back to the users”.
Despite the recent drop in value, the ETC crypto coin still has quite a promising future. Before the drop in price, the crypto coin had registered a value of over $40.
Comparing Ethereum Classic (ETC) to Ethereum (ETH)
The Ethereum (ETH), which is the newer version crypto coin, has greatly gained reputation among the cryptocurrency world. The Ethereum is currently rated second to Bitcoin, which was the first cryptocurrency to be developed, in terms of the market cap.
The value of Ethereum is far much that of the Ethereum Classic. The Ethereum Classic seems to be heavily hit by the hard fork that resulted in the formation of the Ethereum. After the formation of Ethereum, all previous transactions were simply done away with and users were kind of starting afresh.
Most Ethereum users choose to choose Ethereum (ETH) to Ethereum Classic (ETC). The Ethereum Classic was therefore left struggling to regain its glory.
Ethereum Classic (ETC) market Overview
Currently, the Market Cap of the Ethereum Classic (ETC) is $2,054,468,529 USD, which is an equivalent of 227,322 BTC, with a 24 hour trading volume of $307,240,000 USD (33,995 BTC).
With the current market cap, the Ethereum Classic crypto coin is rated at number 16. This shows that with a slight improvement in value, this coin will become among the top 10 cryptocurrencies. Again, considering that the blockchain network that this crypto coin uses is similar to that of the more successful Etherum (ETH), the ETC is just a slleping giant.
The Ethereum Classic (ETC) price is expected to hit $40 at the beginning of the Q2, 2018. Therefore, this is a great chance to purchase the crypto coin for investors. And the price is not only expected to hit $40, but to also move higher.