Ethereum Classic is the legacy chain of the Ethereum Blockchain. It was created to prevent you from countering the DAO hack. ETC is more or less similar to ETH with a key change, the ETC blockchain is not only able to record the value of the transaction, but also has the ability to execute transactions autonomously. It executes smart contracts, which means that when the conditions of the transaction are met, the transaction is immediately completed, but if the transaction is not completed in the allotted time, a penalty or fine/commission is imposed.
Pumps and landfills in previous months
- Pump: May 20 to May 25 – Price rises from $19 to $25.5
- Dump: June 6 to June 16 – Price drops from $23.3 to $13.5
- Pump: July 16 to July 20 – Price goes up from $14.67 to $24.66
Reasons for pumps and landfills
- Some whales had released a huge block of their shares on the market that led to bullish performances.
- The decline near June 10 is attributed to the implementation of Magneto Upgrade which supposedly would have made blockchain more secure and faster, along with a reduction in GAS fees, however, backfired and ETC lost 65% of value from the upgrade.
- The recent pump from July 16 to now is because ETC has announced that it will move its EVM (Ethereum Virtual Machine) from Proof of Work to Proof of Stake. (Note: ETC was the 2nd largest token based on the Proof-of-Work concept, the largest is BTC!)
ETC
Price Prediction: How to invest in ETC?
Here are some of the best crypto exchanges that offer ETC for trading:
- Binance 2. Kraken 3. Bitflyer
Steps to follow to invest in ETC
Step 1: To invest in ETC first you need to find an exchange that offers ETC Coin for Trade
Step 2: Create an account with Exchange
Step 3: Verify your identity
Step 4: Fund your wallet
Step 5: Make your purchase