Ethereum Classic Price 2020
The current price of the Ethereum Classic fluctuates around $4.48; the total market capitalization is $521,635,239 or 70,472 BTC, which makes ETC one of the 20 most popular digital currencies as of January 2020. The circulating supply is 116,313,299 ETC, while the maximum amount is 210,000,000 ETC. The daily trading volume is around $812,007,513 or 109,701 BTC. The most active exchange that trades Ethereum Classic is OKEx.
The all-time high of Ethereum Classic, $47.77, was reached on December 21, 2018 – during the most famous cryptocurrency bull-run of winter 2017. On the other hand, the all-time low of Ethereum Classic, $0.452446, occurred way back on July 25, 2016. Currently, the estimated ROI (return on investment) of ETC is 495.65%, which means that $100 worth of ETC bought at the time of the Ethereum Classic launch would yield around $495 of profit today.
Right after the hard fork diverged from Ethereum and left Ethereum Classic behind, the price of ETC was 60-70 cents. Following a DAO scandal, the price of ETH also fell down from $14 to $10. Nevertheless, ETC was soon listed on a popular Poloniex exchange, which led to an immediate increase in ETC price up to $1.4. At the time, the total market capitalization reached $250 million and thus exceeded that of Ethereum. After that, the price of ETC remained at the same level for a long time.
It took a year for Ethereum Classic to attract some attention again. Due to numerous problems that surrounded Ethereum at the time (increasing mining complexity, reducing network bandwidth, errors in launching smart contracts, etc.), the community turned to ETC. Miners dedicated their capacities to the old chain, while entrepreneurs made plans for launching various projects on Ethereum Classic blockchain.
This spark of activity brought the price of ETC up to $20 in June 2017, and the market capitalization exceeded $1 billion, making Ethereum Classic one of the top 10 cryptocurrencies at the time. Half a year later, ETC reached a historical peak of $46, after which the price of ETC entered a downtrend, which was common for the whole market at the time. Since the legendary winter of 2017-2018, Ethereum Classic has not experienced any significant price peaks.
After the 51% attacks experienced by Ethereum Classic at the beginning of 2019, the coin has experienced a 7% drop in its price. Even though the decrease was not drastic, the currency has not experienced significant ups since then.
Given the vulnerability of Ethereum Classic (ETC), many price predictions are not very promising. For instance, WalletInvestor does not consider ETC a good 1-year investment, claiming it could go as low as $0.48 in 2020. However, Ethereum Classic may become a profitable investment by 2025 and reach at least the $9.565 mark by 2025. Read the full guide here
What is Ethereum Classic (ETC)
Ethereum Classic is an open-source, decentralized digital currency that emerged in 2016 following the theft of 3.6 million Ether from The DAO, Ethereum venture capital fund. It was decided by the developers to create a hard fork based on Ethereum code in order to get the funds back through a new smart contract. Some community members rejected the hard fork, claiming that it is conceptually wrong to modify a blockchain and decided to keep the unforked version. Thus, Ethereum Classic was born. So, in fact, ETC is the original Ethereum, while ETH is the hard fork implemented in 2016.
Unsurprisingly, ETC shares technical similarities with Ethereum, particularly in the hash algorithm, and also supports smart contracts. While some advantages of ETC include more opportunities for mining and higher transaction speed, it is obviously less secure than ETH. The conservatism of Ethereum Classic led to several 51% (double-spending) attacks in January 2019. Despite losing funds, the ETC users did not express any public outrage, which means that the ideology of blockchain immutability is just as important to some community members as the functionality and security.
Ethereum Classic Wallet
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