What currency is ETC? ETC currency future trend and prospect prediction
- WBOYOriginal
- 2024-08-01 16:48:02621browse
ETC is a cryptocurrency that was hard forked from the Ethereum blockchain in 2016. Its main features include: irreversible transactions, use of older versions of Ethereum technology, and a lower market capitalization than Ethereum coins. The future trend of ETC coins is difficult to predict and is affected by many factors, including market sentiment, technological development and competition.
What currency is ETC?
ETC (Ethereum Classic) is a cryptocurrency that was hard forked from the Ethereum blockchain in 2016. A hard fork is the process by which a blockchain splits into two independent networks.
The Birth of ETC Coin
In 2016, the Ethereum network suffered a hacker attack, resulting in the theft of 365,000 Ethereum. The Ethereum community decided to roll back the blockchain, thus reversing the theft. However, some community members opposed the rollback, arguing that it violated the blockchain’s principle of irreversibility.
Differing opinions led to a split in the Ethereum network, with the faction supporting rollback retaining the name Ethereum (ETH), while the faction supporting immutability created ETC.
Features of ETC Coin
ETC Coin has a similar technical foundation to ETH Coin, but there are also the following major differences:
- Irreversibility: Once the transaction of ETC Coin is confirmed, it cannot be reversed.
- Version Differences: ETC coin uses an older version of Ethereum technology, which means it is not compatible with newer features like smart contracts.
- Market Cap: The market cap of ETC coin is much lower than that of ETH coin. As of this writing, the market cap of ETC coins is $1.7 billion, while the market cap of ETH coins is $144 billion.
Forecast of the future trend and prospects of ETC coin
The future trend of ETC coin is difficult to predict because it is affected by many factors, including the overall trend of the cryptocurrency market, technological development and competition. Here are some factors that may affect the outlook for ETC coin:
- Cryptocurrency Market Sentiment: If cryptocurrency market sentiment is generally positive, ETC coin may benefit.
- Technological Innovation: ETC coin is under active development and future technological improvements may increase its value.
- Competition: ETC coin faces stiff competition from other cryptocurrencies, including ETH coin and emerging cryptocurrencies that are more focused on scalability.
It is important to note that the value of cryptocurrencies can fluctuate wildly and investors should remain cautious when investing in ETC coins or any other cryptocurrency.
Latest Price and Trends for Ethereum Classic
As of now, the price of Ethereum Classic (ETC) is $21.93 with a 24-hour trading volume of $1.193 billion.
Recent Changes
The price of ETC fell by 1.81% in the past 24 hours. This was largely due to a pullback in the broader cryptocurrency market, with major cryptocurrency Bitcoin (BTC) also falling.
Influencing Factors
Factors affecting ETC price fluctuations include:
- General sentiment across the cryptocurrency market
- Specific technical and fundamental news
- Changes in the regulatory environment
- Activity of speculators and traders
Future Outlook
In the short term, ETC prices are likely to continue to be affected by the volatility of the cryptocurrency market. However, in the long term, it may benefit from the potential application and adoption of blockchain technology.
It is recommended
- to conduct your own research before investing in any cryptocurrency.
- Manage risk carefully and only invest money you are willing to lose.
- Consider holding ETC for long-term appreciation rather than short-term trading.
Short-term outlook
ETC prices are expected to remain volatile in the short term, but may rebound as market sentiment improves.
Indicators
- Current price: 21.93 USD
- 24-hour trading volume: 1.193 billion USD
- Circulating market capitalization: 3.249 billion USD
- Circulating supply: 148.14 million
- Maximum supply: 210.7 million
- Total Supply: 148.14 million
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