Does Ethereum Classic Hit Crypto-investors Jackpot?
Ethereum Classic (ETC) shares its origin story with Ether brought to life by Vitalik Buterin. ETC has been structured as a smart contract that permits developers to construct decentralized applications (Dapps). For Ethereum Network, ETC was designed as the native token for the platform and served as a transaction coin for miners.
Since its inception, ETC has commercialized itself as a distinctive native currency that doesn’t resemble the Ethereum token ‘Ether.’ As of April 2021, ETC is trading at the price value of $33.65, predicted by some analysts. It has gained popularity as its views of decentralization align with the core principles of cryptocurrencies.
What Is Ethereum Classic (ETC)?
The foundation of ETC was designed to be a platform for blockchain-based intelligent contracts when operating on the blockchain. But what is the peculiarity of a smart contract? A smart contract becomes a self-operating computer program that automatically executes precisely as programmed without the possibility of downtime, third-party interference, or censorship.
ETC can facilitate the exchange of money, property shares, or anything worthy of being valued. ETC is the result of a hard fork on the Ethereum blockchain.
The token runs on the same protocol and performs functions like Ether. The only distinguishing factor is that ETC uses the Proof Of Work (PoW) consensus, whereas Ether has pivoted to proof-of-stake (PoS).
History of Ethereum Classic Price
Following a hack generated in 2016, $15 million funds were stolen from the Ethereum network. After this misfortune, the blockchain was split to avoid hacker’s transactions and return the stolen funds to the ETC investors. This resulted in the creation of two currencies: Ethereum and Ethereum Classic. This is how ETC was born into the crypto market to safeguard its integrity.
Is ETC a Good Asset for Investment?
ETC has proven its standing in the crypto network with the backing of prominent investors such as Grayscale Investment Trust’s Barry Silbert. ETC is a valuable investment for blockchain partisans and to expand an investor’s portfolio during financial woes.
Recently, Phoenix and Aghata, the newest forks of ETC, have further accelerated the token to be more interoperable with Ether. Another differentiating factor about ETC is that it follows the ‘Code of Law’ ideology. This illustrates the token as a self-produced Dapp.
CoinMarketCap has ranked the token 51. Remarkable Ethereum Classic Price Forecast predicts that by the end of 2021, the token might have a $15 price value.
ETC Price Prediction
ETC started this year off with a price value of $5.70. By the end of this year, the selected ETC price predictions predict that the token may reach a $15 price value. ETC has a market capitalization value of $800 million.
Predicting a different viewpoint, Cryptonewsz’s Ethereum Classic Price Forecast is that by the end of 2021, the token will be at a price value of $5.63.
Whereas, having a positive approach to the token’s acceleration and success, TradingBeasts Ethereum Classic Price Forecast proposes the price value of $5.63 by the end of this year.
Keeping up with the confidence in the growth of ETC, Cryptonewsz Ethereum Classic Price Forecast is hinting that the token might trade at $12.18 by the end of 2021.
Coinpedia has titled the token as a reliable crypto asset. Coinpedia’s Ethereum Classic Price Forecast foretells that the token can reach a market value of $17 by the end of 2021 and is confident that it will reach the target of $45 in the coming year.
Ethereum Classic Price Forecast for 2025 by Cryptonewsz states that the token will be trading at a market value of $25.41. These Ethereum Classic Price Forecast predictions by analysts showcase a positive consensus of the token in the crypto market.
The overall marketing cap of ETC is lower than other cryptocurrencies like BTC and Binance coin, which makes it an accessible asset to invest in. It has garnered many loyal users from its pre-fork days. Now, the token will only accelerate further in terms of its price value if ETC meets the commitment of becoming interoperable with Ether and other blockchains.
This interoperable intention will enhance ETC’s security status twofold amongst investors.
The concrete plans laid out for the token and the Ethereum Classic Price Forecast predictions make the token a valuable asset in the crypto market.