Ethereum Classic (ETC) Reviews for April 2024

Ethereum Classic (ETC) has risen in price over the past day by a third after the announcement of the imminent hard fork. This allowed the asset to take 16th place in the CoinGecko ranking. ETC is trading above $ 60, however this is well below the May high when the price was above $ 107. Ethereum Classic technology coordinator Stevan Lohja on Tuesday announced an upcoming hard fork to implement the latest version of the project. The update, which the community has dubbed "Magneto", will include four Ethereum or EIP improvement proposals that appeared in the Ethereum Berlin update earlier this year. These offers are aimed at increasing the level of security and reducing commission costs by storing addresses and keys in the same place.

Beta testing of ETC's Morder and Kotti testnets began on June 2 and 9. On the mainnet, the hard fork should be activated on July 21, 2021. Stevan Lohja recommended that users update their nodes' software to a version compatible with Magneto. If users do not manage nodes or services, but use Ethereum Classic through third-party applications, they need to make sure that these applications support the Magneto update. Recall that at the end of last year, the ETC Labs development team began working on creating a "bridge" between the Ethereum Classic and Ethereum blockchains. It will allow DAI stablecoin swaps between these networks, which is used in many decentralized finance (DeFi) applications.

Ethereum Classic (ETC) set a new all-time high around $ 167 on Thursday. Since April 26, when the ETC rally began, the cryptocurrency has risen in price almost 6 times, and since the beginning of the year - 30. Ethereum Classic shows the best daily and weekly dynamics in the top twenty of CoinGecko. The growth of ETC is taking place against the background of the general rise in the crypto market. So, Ethereum yesterday updated its all-time high just below $ 3.6 thousand. Dogecoin on Wednesday rose in price to a new high of $ 0.69. Ethereum Classic appeared on July 20, 2016 as a result of a hard fork of the Ethereum network. This happened after the infamous attack on the DAO project, when 3.6 million ETH worth $ 50 million at the exchange rate at that time were stolen. Most of the developers and other ecosystem participants supported the option of changing the transaction history in order to eliminate the consequences of the hack. However, this approach was not shared by all - opponents of the proposal preferred to stay in the "classic" version of the Ethereum blockchain.

Coinbase cryptocurrency exchange has published an analysis of two recent attacks on the Ethereum Classic network. This topic still excites the markets. The exchange estimated that the damage from these events to other trading platforms was about $ 9 million. At the same time, Coinbase itself was not the target of hackers, and the assets of its clients were not affected.

Crypto exchange OKEx may exclude Ethereum Classic from the listing after the 51% attack, which was recorded in early August.

Crypto exchange Coinbase has increased the confirmation time for Ethereum Classic deposits to two weeks. Now the exchange is waiting for almost 81 thousand confirmations to deposit at Coinbase and Coinbase Pro. The cryptocurrency community has already criticized the exchange for excessive security measures.

ETC hasn’t shown any significant movement in the last 6 months. All indicators are pointing to a large ETC pump, and this coincides with the potential for an ETH pump as well. Both ETH and ETC generally move in tandem, so it’s critical to watch both of these projects. Although ETC doesn’t have the awareness, community, or lasting power that ETH does, it’s nonetheless a hedge against such an obvious bet. If you load up on ETC here, you’ll be ahead of the herd in profiting a large amount off of this next pump coin. There aren’t many chances to make huge profits at the moment, but ETC is looking like the prime choice.

Remember when ETC was trading around 11$ when it first landed on Coinbase? Once the bull kicks off for ETH we’re going to be a follow up run on ETC. We always see these correlations, such as BCH and BTC. It’s always a very smart plan to hold a hedged bet on the competitior of ETH, which is ETC. The moment ETC decides to go, it’s going to blast off because the main market for this coin is the Korean market. Last year, they pumped this coin with billions of dollars in a few hours. Don’t get caught without atleast a decent bag of ETC

I agree with the below posters that ETC is in a great looking position. ETC has been a good buy for months now, especially after their run in with the 51% attack. This is still a top coin thats completely recongizable, so it's a good moment to get in and just wait. Patience will always pay when it comes to these types of coins, and it has yet to see a big move in the green direction.

ETC is a huge buy- just look at the weekly chart. Anyone can spot the point where ETC has historically jumped up, and we're nearly at that level. Trading ETC could net some serious gains, even though ETC has been going sideways for some time now.

In the last week, ETC has been up nearly 25% even with the sudden crash from BTC and the rest of the market. It seems that most have forgotten about the 51% attack that was performed on the ETC blockchain some months ago. Then again, crypto forgets these events fairly quickly. The roll out of ETC Labs was also a big confidence boost for the whole project, so this may be the result of that.

Classic reminds light story on the previous cycle. The same unnecessary asset to anyone. It is the same fork by analogy of the cue ball and light. What a light, what a classic, pampanuli up to $ 50 (in different cycles). I think Light will dump to a certain point and will also be in oblivion for a long time, until at the end of the next cycle you suddenly get pampanut, like Light in due time.