ETC is Having A Great Outlook this Month, Here Are Some of the Reasons. Ethereum Classic News, ETC Price Chart. Wednesday, August 22
Important Ethereum Classic News
Ethereum Classic Might Be the Main Ethereum Contender
Since April 2017, Ethereum (ETH) has performed better than Ethereum Classic, the sister blockchain from which it was forked, but recent indicators show that the trend is reversing.
With the recent announcement by Coinbase that it would list Ethereum Classic, the price of the coin saw a spike although this was not sustained after the actual listing pointing to the suspicion that interest is still low among investors since the coin market has been bearish due to the correction. Another reason may be that whales are manipulating the market to get the price low enough for maximum profit.
Recent analysis shows that Ethereum Classic has reached the end of its correction against the USD and a breakout imminent. This cannot be said for Ethereum which is still realistically under a lot of bearish pressure. If this trend is sustained, it is likely that one of the coin to watch in the future is ETC.
Bittrex Plans Adding ETC/USD Trading Pair
Bittrex known as the 34 th in the list of virtual currencies has announced plans to add Ethereum Classic to its trading pairs. The announcement released on August 17 via a post said “Today’s announcement is another exciting step toward further adoption of blockchain technology, which is truly revolutionary. In addition to broader acceptance, expanding fiat markets to the top digital currencies on our trading platform will help limit the dominance and influence of any one token over other blockchain projects – a necessary evolution if we’re going to unleash blockchain’s potential benefits for consumers and businesses.”
ETC is Having A Great Outlook this Month, Here Are Some of the Reasons
Before the massive sell-off of August, Ethereum Classic peaked at $20. The news that are behind this modest success are the Coinbase listing, Grayscale investing having $90 million in ETC and Bittrex addidition of ETC/USD trading pair.
Although the effect of these had been minimal, they are an indication that Ethereum Classic has great potentials in the coin market.
ETC/USD Price Chart, Wednesday August 22nd:
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