At -29% Ethereum Classic the biggest loser this past week – sentiments turn bullish
Ethereum blockchain’s continuation, Ethereum classic has been in the headlines in the crypto world for a fair amount of time now. It preserves the untampered history which is free from external interferences and is subjective to tampering of transactions.
ETC is a decentralized platform running on smart contracts, basically Dapps. These are programmed without downtown possibilities, censorship, fraud or third-party interference.
The cryptocurrency markets, as usual, have been on a bearish trend this past week, ETC being hit the hardest over the past 7 days with a 22% decline. ETC is currently ranked at 17th with a market cap is around $2.9bn and a 24-hour-volume of $705,084,000.
Osumah, a Twitter user comments:
‘It’s painful to see classic price drop dramatically”
The biggest markets of ETC are Bithumb and OKEx with 18.28% and 16.46% volume. It did reach a positive peak value of $39.01 USD on February 24, at 22:08:34 UTC but it is now on a negative trend.
Lately, there have been a lot of speculations about ETC, especially the Callisto airdrop, and the Crypto Twitter tweeting up a storm about ETC.
Marina Beetle, a market observer stated:
“Some have dubbed ETC a shitcoin, as if we’ve existed this long to just be another pump and dump. We haven’t, we aren’t, and we won’t be if I have anything to say about it.”
There will probably be no single winner. Every blockchain still needs to improve their usability and ETC has made great strides regarding the same. They have various well-working wallets: Emerald Wallet [CEW], a simple DNS-like system [via CEW], mobile wallets and a lot more yet to be released.
Anthony, a coder, Project Manager and a blockchain enthusiast quoted:
“We’re very anti-pump and dump, want to know why ETC’s price doesn’t rise endlessly like other coins? Because when you join our forums you may very well find that many in the community won’t promise you the moon, and we’re aware of our flaws and working hard to fix them. We think this will make ETC much more widely used in the long term, at the cost of short term lambo-moon pipe dreams.”
Richard Thingsen, a cryptocurrency investor from Shillong says,
“I’m here to make money, not worship the tech team, don’t care about ETC’s flaws, need people to believe in the tech so that investors will start diversifying their assets here. It definitely has hope, looks like ETC has bottomed out and its only up from here. All depends on BTC market”
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