Ethereum Classic (ETC), 28th crypto per market cap, has just recorded a +10% price increase in the last 24 hours.
Ethereum Classic and changes in the price of ETC
In the last 24 hours, the crypto born from the Ethereum hard fork, Ethereum Classic (ETC) has recorded a price increase of 10%, worth, at the time of writing, $42.42.
Since March 19th, the price of ETC has been growing, despite a small downward fluctuation recorded just yesterday 7 April 2022, which however was immediately resumed with the pump of the last 24 hours.
Yes, because the 28th crypto per market cap, in the last three months, has swung around the price of $30.6, leveling up in the last three weeks and touching its maximum price of all of 2022 at $50, exactly at the end of March.
ETC has a total market capitalization of over $5 billion and a dominance in the crypto market of just 0.28%.
The latest from Ethereum’s famous hard fork
The changes in the price of Ethereum Classic, in fact, do not reflect the changes associated with the project, since, looking at the official Twitter channel, the latest news on ETC dates back to early March 2022.
This was the special introduction of the fiat-to-ETC function of NOWPayments, which allows companies to charge their customers the sums to be received in fiat currencies, obtaining, instead, their payments in ETC.
Payment gateway @NOWPayments_io just
unveiled a new way for buyers and sellers to accept both $ETC ⇆ fiat money as a form of payment.#ETCArmy #EthereumClassic #EthClassic #ClassicIsComing https://t.co/YY5hxcoULk
— Ethereum Classic (@eth_classic) March 4, 2022
“Payment gateway @ NOWPayments_I have just unveiled a new way for buyers and sellers to accept both $ETC fiat ⇆ money as a form of payment.”
Therefore, the price of ETC is following the general trend of the main cryptos. And in fact, looking at ETH, for example, its latest uptrend started from the day of March 15th, priced at $2,529, reaching $3,529 last April 5th.
At the time of writing, Ethereum is worth $3,257.
Price Forecast for ETC: $33,000 by 2029
In September 2021, Donald Mcintyre of Etherplan released his price forecast for Ethereum Classic, stating that the price of ETC could rise to $33,000 in 2029. Nothing to do with the current $42 and his $50 ATH 2022.
Ethereum Classic is the original protocol of Ethereum, from which the fork currently called Ethereum (ETH) was born in 2016, as a reaction to a hacker attack.
Although ETH is the quintessential crypto of smart-contracts , the one that created the Non-Fungible Tokens and DeFi, Mcintyre argues that as ETC is detected by the market, developers will want to use it to discover its use cases. Something that still doesn’t seem to have happened.