Real-Time ETC Price Analysis
Ethereum Classic's current price is $16.57**, with a 24-hour trading volume of **$27,466,411. The price has:
- Decreased by 3.06% in the last 24 hours
- Increased by 2.95% over the past 7 days
Key metrics:
- Market Cap: $2,527,414,777 (Ranked #40)
- Max Supply: 210,700,000 ETC
- Circulating Supply: 152,570,465 ETC
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Historical Context:
Today’s price is 90.60% below its all-time high but 3,561.33% above its lowest recorded value.
What Is Ethereum Classic (ETC)?
ETC is the native cryptocurrency of the Ethereum Classic blockchain, one of the longest-running smart contract platforms. Launched in 2015 as the original Ethereum chain, it split in 2016 due to ideological differences after the DAO hack.
Core Principles:
- "Code is Law": Contracts execute as programmed, immutable.
- Decentralization: No protocol alterations post-deployment.
The Ethereum Classic Hard Fork Explained
Origins of the Split
- 2015: Ethereum Classic began as the original Ethereum blockchain.
- 2016: The DAO hack exploited a vulnerability, stealing 3.6M ETH. A controversial hard fork reversed the hack, creating Ethereum (ETH). ETC continued the unaltered chain.
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Post-Fork Developments
- ETC Price: Peaked at $176.16 in May 2021.
- Supply Cap: 210,700,000 ETC (deflationary model).
Key Features of Ethereum Classic
- Smart Contracts: Immutable and censorship-resistant.
- Consensus: Proof-of-Work (PoW), unlike ETH’s planned Proof-of-Stake.
- Tokenomics: Fixed supply with periodic miner reward reductions.
Comparison to ETH:
| Feature | ETC | ETH |
|---|---|---|
| Governance | Immutable code | Protocol upgrades |
| Supply | Capped (210.7M) | No hard cap |
| Consensus | PoW | Transitioning to PoS |
Frequently Asked Questions (FAQs)
1. What was Ethereum Classic’s highest price?
ETC peaked at $176.16 on May 6, 2021.
2. Where can I buy ETC securely?
Top exchanges include Binance, KuCoin, and Kraken.
3. How does ETC’s supply differ from ETH?
ETC has a fixed max supply (210.7M), while ETH’s supply is uncapped.
4. What wallets support ETC?
Hardware wallets like Ledger and Trezor offer optimal security.
5. Why did Ethereum Classic split from ETH?
The split occurred after the DAO hack, with ETC rejecting the reversal of transactions.
Final Thoughts
Ethereum Classic remains a niche but resilient blockchain, appealing to proponents of decentralization and immutable contracts. While its market performance trails ETH, its deflationary model and PoW mechanism offer unique value propositions.
Stay Updated: Monitor ETC’s price trends and network developments for informed investment decisions.