Ethereum Classic Price ETC Price Index, Live Chart and USD Converter

The current circulating supply for Ethereum Classic is 139,797,976 ETC. Ethereum Classic ETC currently has a market cap of $2,650,353,646. In the last 24 hours, the price of Ethereum Classic has changed by 3.49%. To view the price of Ethereum Classic in the currency of your choice, select a base currency at the top of the page.

Update with regards to NFT work, it is moving along, don’t give up on the space. https://www.beaxy.com/ cap is calculated by multiplying the asset’s circulating supply with its current price. This is a statistical representation of the maximum market cap, assuming the maximum number of 210 Million ETC tokens are in circulation today. Depending on how the emission schedule of ETC tokens are designed, it might take multiple years before FDV is realized.

Learn more about Ethereum Classic (ETC)

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Most Ethereum users moved on to the new hard fork, leaving Ethereum Classic with a significantly smaller community. Essentially, ETC can be used by Ethereum Classic users to pay the gas price for conducting transactions on the network. It was created in 2016, due to a difference in ideological and technical opinion within the Ethereum community, which came as a result of the infamous DAO attack. The original Ethereum blockchain was split into two with Ethereum Classic being the original and Ethereum being the newer blockchain.

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The attacker exploited a flaw in The DAO’s code and made off with $50 million worth of ETH at the time. However, you need to be aware that Ethereum Classic is currently the underdog to Etheruem, so its future might not be as shiny. There is a community that loves the blockchain and has a genuine belief that it can one day evolve into something even better than Ethereum, even despite its history of hacks. There is something noteworthy about staying strong after such a massive attack and theft; however, that just showcases the user’s confidence within the blockchain despite the fact. Sentiment analysis measures opinion data and categorizes it as positive, negative, or neutral. This technique studies the overall sentiment in the market, revealing how investors and traders feel about certain crypto.

Such an upbeat mood not only sends the price of market leaders higher but increases investor confidence in buying altcoins such as ETC. A few minutes after your trade goes through successfully, your trading account will be funded with the new Ethereum Classic coins you have purchased. You can choose to hold them on KuCoin, or you can transfer them to your external wallet for additional security. Also known as Ether, ETC is mined to generate rewards for nodes within the network that validate transactions in the blockchain. 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. Regulations of the cryptocurrency market also develop on a regular basis, and this has the potential to change Ethereum Classic’s level of operation in the future.

This led to the genesis of Ethereum Classic, with ETC as its native token. Although ETH and ETC initially shared several similarities, the two networks have grown far apart regarding technological features. Ethereum Classic has a fixed maximum supply of 210.7 million coins and a circulating supply of over 135 million as of June 2022. On the other hand, Ethereum’s ETH has a total supply of over 121 million at the time of writing. The ETC price action could trend higher as the Ethereum Classic ecosystem grows in the future and more dApp developers build and deploy their applications on it.

It has ethereum classic price chart volume of 210,700,000 ETC coins and a max. These costs are commonly referred to as gas fees, and they are paid to miners who use advanced computers to solve “proof-of-work” problems to help validate the network. The Ethereum Classic blockchain issues new ETC to the circulating supply to reward miners for adding new transactions to the blockchain. Ethereum Classic further distanced itself from Ethereum over time, as it put a hard cap on ETC’s maximum supply and adopted a Bitcoin-like deflationary monetary policy by introducing a regular reduction in block rewards. It aims to be the go-to platform for smart contract development which helps developers create unstoppable applications. Most of the original Ethereum technological features and architecture were preserved in Ethereum Classic .

Consumers and businesses can conduct and make payments using ETC coins. The cryptocurrency allows for a decentralized, highly secure digital transfer of payments with very low transaction fees. While Ethereum and Ethereum Classic, at one point in time, were based on the same code, Ethereum Classic has taken a different path ever since.

As long as the community supports the open-source blockchain, it could grow. However, it is unlikely that the Ethereum Classic ecosystem could ever compete with Ethereum, which remains the largest ecosystem hosting dApps. No part of the content we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for you to rely on for any purpose. Any use or reliance on our content is solely at your own risk and discretion.

It is easy to create new applications on the Ethereum Classic platform. Ethereum Classic’s current share of the entire cryptocurrency market is 0.25%, with a market capitalization of $ 2.64 Billions. The widely-recognized Ethereum blockchain launched by Vitalik Buterin and Gavin Wood in July 2015, raised $150 million through an Initial Coin Offering conducted by ‘The DAO’, in April 2016. However, a hacker stole $3.6 million three months later, by exploiting a bug in one of The DAO’s smart contracts. Ethereum Classic is a decentralized smart contract-enabled network that aims to become a global payment system. Originating from the Ethereum network, Ethereum Classic uses BTC the proof-of-work consensus mechanism and supports decentralized applications.

This BNB could increase the on-chain activity of the blockchain, drive the Ethereum Classic price higher, and make ETC more valuable to invest in and hold. You can also use your existing cryptocurrencies to buy ETC on the KuCoin exchange. Transfer the funds from your digital wallet and into your KuCoin trading account to use them.

• ETC, the native coin of Ethereum Classic, is used to pay for using its computational resources.
• Additionally, it can be used to pay for fees, particularly when executing smart contract-enabled applications or transferring Ethereum Classic-based tokens.
• The price of Ethereum Classic has been through lows and highs in the 5 years since its creation through an Ethereum hard fork.
• The bridging solution will enable interoperability for the Ethereum Classic network.
• In the last 24 hours, the price of Ethereum Classic has changed by 3.49%.

Reward amounts will be determined based on the type and relevance of the information provided. Unlike Ethereum, Ethereum Classic has no plans to convert to the proof-of-stake mining algorithm. However, developers are working towards improving the scaling solutions that can be implemented. One must-have ETC in the linked hardware wallet to facilitate the swap. Live Ethereum Classic price updates and the latest Ethereum Classic news. The price of Ethereum Classic has experienced significant changes, going from lows of $0.61 to highs of $47, and its movement has often been characterized by surges and crashes.

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. Another main concern of Ethereum Classic lies with its drawbacks in terms of scalability. On average, the network can manage 15 transactions per second, far less than centralized payment networks, such as Visa, or even other decentralized blockchain networks. Although Ethereum Classic has had software upgrades, its payment system scalability remains to be one of its most challenging struggles going forward, thus, its use cases remain limited. Ethereum Classic and Ethereum remain similar in terms of their basic functionalities. For example, developers can make use of the open-source code to develop and run decentralized applications and ERC-20 tokens can also be created for use on such applications.

The Ethereum Classic network has suffered multiple majority attacks or 51% attacks since its launch, which resulted in the creation of the Ethereum network from a hard fork in the first place. Meanwhile, Ethereum’s blockchain is considered one of the most secure ones in the market, having experienced no attacks to date. However, it has gotten a reputation as the lesser legitimate option of the two networks.