ETCUSD Ethereum Classic Price Chart

Anyone with access to major cryptocurrency exchanges can purchase, store, and exchange Ethereum Classic tokens under the ticker symbol, ETC. It is available on the largest and most popular cryptocurrency exchanges, and it is also available on some of the more obscure exchanges. In each attack, millions of dollars worth of Ethereum Classic tokens have been stolen.

The live price of Ethereum Classic is $ 18.47 per (ETC / USD) today with a current market cap of $ 2.58B USD. We also gather additional information from different sources to make sure we cover all necessary data or events. Although Ethereum Classic supports smart contracts and supports dApps, the number of decentralized applications operating on its ecosystem is far lower than those on Ethereum. ETC is the native cryptocurrency of the Ethereum Classic ecosystem. It is used to pay fees for transactions and interactions with dApps running on the blockchain and for executing smart contracts. Ethereum Classic is a public, open-source, decentralized blockchain-based computing platform that can execute smart contracts.

Fees As Low As 0%

It’s also possible to trade them against other crypto coins on popular exchanges. Charts Explore more data on the digital asset markets with comprehensive graphs. Yes, Ethereum Classic is legal to purchase and own anywhere where cryptocurrency is legal. Popular exchanges will automatically detect your location and adjust their availability according to your region’s financial regulations.

The attacker exploited a flaw in The DAO’s code and made off with $50 million worth of ETH at the time. Exchanges will halt deposits and withdrawals of the tokens during security incidents, and traders can buy and sell the token on different exchanges at different prices. This is a way to make a profit from trading Ethereum Classic without taking the risk of speculation. Ethereum Classic generate tokens and handles transaction in a similar manner to Bitcoin. However, it has the additional feature of handling smart contracts, and this enables Ethereum Classic to be used as a development platform. While Ethereum Classic is undoubtedly the original blockchain, Ethereum is considered the most legitimate.

Trending Coins and Tokens

The current version of Ethereum uses this newer blockchain, and Ethereum classic uses the old version. To understand how Ethereum Classic works, you need to be familiar with smart contracts. In simple terms, smart contracts are self-executing computer programs that are stored on a blockchain and run according to predetermined conditions.

Also, the emission rate of ETC was modified such that the block reward reduces by 20% every 5 million block intervals. Unlike most cryptocurrencies, ETC did not emerge via a public sale or other means of crypto funding like an ICO. Instead, it was created due to a changing Ethereum landscape that birthed two independent blockchains.

The ETC price has generally followed the market trends that were set up by ETH as the second-biggest cryptocurrency in the world. ETC uses the Proof-of-Work consensus mechanism to mine new blocks. However, since the Ethereum Classic price is influenced by the asset being deflationary, the reduced rewards may not strongly impact the value. The cryptocurrency used by the Ethereum Classic ecosystem is specifically known as Ether.

As proof of work crypto coin, new ETC’s are generated through the mining process, so on each block, new assets are created. There are currently approx 71.5 M ETC coins left that aren’t in circulation yet from the maximum supply of 210.7 M. It has a circulating supply of 139.2 million ETC coins and is ranked #25, current Ethereum Classic market cap is $2.6 billion.

https://www.beaxy.com/ cap is calculated by multiplying the asset’s circulating supply with its current price. There are currently approx 71.5 M ETC coins left that aren’t in circulation yet. The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice.

The Enterprise Ethereum Alliance , which consists of JP Morgan, Credit Suisse, ING, Mastercard, Accenture, AMD, and more, also offers support. However, most of the interest from the EEA has shifted to Ethereum after the hard fork, leaving a relatively lower interest in developing Ethereum Classic. The Turing-complete programming language allows applications to run without third-party interference or the threat of censorship. The Ethereum Classic’s market is also EVM-compatible, which means LINK that dApps designed for Ethereum can also be deployed on this network. Select ETC and the desired fiat that you would like to convert to view the estimated live conversion price. OKX offers the ETC/USDT, ETC/USDC, ETC/BTC, ETC/ETH, and ETC/OKB trading pairs.

Ethereum Classic PRICE USD CHART

This text is informative in nature and should not be considered an investment recommendation. It does not express the personal opinion of the author or service. Any investment or trading is risky, and past returns are not a guarantee of future returns. The price of Ethereum Classic depends on a wide variety of specific factors that help form its market value. Ethereum Classic has a capped max supply, which means that no new coins will be minted once all of the supply is in circulation. This fixed supply means that ETC isn’t subject to inflation like fiat currencies and an increase in demand will drive up its price.

CryptoRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions. If you’re looking for a set of practical and insightful crypto market information and data, we have the analytics tools to suit your business needs. Ethereum Classic’s current share of the entire cryptocurrency market is 0.23%, with a market capitalization of $ 2.60 Billions.

Use Existing Crypto to Buy Ethereum Classic on KuCoin

It has its uses in the decentralized space, but it has also been at the center of security scandals and major hacks. For this reason, there is hesitance to build large applications with important financial data on the Ethereum Classic blockchain. Over the years, ETH has grown to become the biggest smart contract platform while ETC has struggled to keep pace. Nevertheless, the ETC crypto could still have value as a speculative digital asset, and could gain more utility if a larger number of projects decides to build on top of the Ethereum Classic platform.

Events like news, partnerships, new listings on exchanges, adoption by companies or users, upgrades and updates, and dev team activity can affect the price of ETC and other cryptos. The lack of these developments can also affect the price, usually pushing it downwards as sentiment around the project becomes negative. 97 percent of the community, including Vitalik Buterin, voted to restore the lost funds. Subsequently, Ethereum split into two with the majority creating the current Ethereum blockchain and the original version being Ethereum Classic. The network is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering with transactions. Its team believes in immutability and censorship resistance, and that’s why they’ve continued to support the original Ethereum blockchain despite the disastrous DAO hack in 2016.

When the split first happened, everyone who held ether at the time received the exact same amount of ethereum classic in their wallets for free. For more information on digital asset risk see FINRA, SEC, and CFPB public advisories. SoFi will apply a markup of up to 1.25% for each crypto transaction. Yes, ethereum classic is a minable coin and, using the Ethash hashing algorithm, you can check, the list of minable coins here. Compared to other crypto coins which started the same year as Ethereum Classic it has above-average trading volume, average volume for the other 96 coins started in 2016 is $8M while ETC has $433M. Publicly circulating amount of specific cryptocurrency coins/tokens that were mined or issued to date, and are not locked/staked .

Wood was responsible for writing the code of the Ethereum blockchain, and the product became very successful immediately after its launch. The project was so successful, in fact, that it attracted bad actors, including a hacker that compromised the network in 2016 and stole roughly $50 million worth of cryptocurrency. A group of hackers took the majority control of the Ethereum Classic blockchain in January 2019. The group, however, returned the funds to the Ethereum Classic community. In August 2020, the Ethereum Classic network fell victim to another 51% attack.

It enjoys EVM compatibility and utilizes a proof of work etc price chart mechanism to secure its network. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates. Ethereum Classic is a decentralized, open-source blockchain platform, as well as a cryptocurrency. It is smart contract compatible and allows developers to build dApps on its network. Ethereum Classic was created in 2016 as the result of a spinoff (a.k.a. a “hard fork”) of the original Ethereum network.

• Ethereum Classic integrated with Multichain, widely considered the leader in cross-chain routing protocols.
• It is still connected to the “brand” of Ethereum which is highly respected and heavily invested in by major players in the new and traditional financial industries.
• It can be sold short in the midst of network attacks in order to profit from price falls, and it can be bought long as the price recovers and the attackers sell their gains.
• To be able to trade stocks like this, create an account and apply for a stock listing.

You can also participate in mining Ethereum Classic and generating ETC rewards by helping validate transactions on the blockchain. You can receive a portion of the reward in ETC coins for your efforts and grow your portfolio. The network maintains the principle of ‘Code is Law,’ letting dApps operate just as they were programmed, in a censorship-free, zero downtime, decentralized and transparent ecosystem. In 2016, following the establishment of Ethereum’s smart contract functionality, a protocol named The DAO emerged as the first-ever decentralized autonomous organization.

July brought new dips and Ethereum Classic traded between $13 and $19 before ETC value fell to $10 in October 2017. November brought 145% of gains with a new high price for Ethereum Classic at the value of $32, and with record-breaking transaction volumes exceeding 44 million. Ethereum Classic continued this positive momentum, breaking the resistance at $40 and reaching a new high of $42.

ETC has a highest price of $176.16, which was reached on May 06, 2021 . FDMC is the Market Cap if the Maximum Supply of a coin/token was entirely in circulation. Coinpaprika.com needs to review the security of your connection before proceeding. The Ethereum Classic to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.

In spite of its close ties with , ETC’s price doesn’t necessarily show a lot of correlation with the price of ETH. Rather, the general crypto market conditions and specific events within the Ethereum Classic ecosystem influence the price. The creation of Ethereum Classic sparked debate within Ethereum’s development community, as it was developed in reaction to a massive DAO hack of the main Ethereum network. The DAO raised $150 million in ETH as an Ethereum-based venture fund in an Initial Coin Offering in April 2016. However, in June, an attacker exploited a bug in the DAO’s smart contracts and stole 3.6 million ETH.