- Ethereum Classic has had an excellent performance in the last 7 days presenting a growth of 82% with daily gains of almost 17%.
- Specialists and indicators consider that ETC will continue to grow and that the rally may be greater when Ethereum 2.0 is launched.
Although the market trend is bearish, cryptocurrencies have had great days with significant increases, some greater than 10% in the last 24 hours, and with Ethereum (ETH) getting closer to leaving PoW (Proof of Work) behind. , the spotlight was put on Ethereum Classic (ETC), which will maintain the classic mining system.
At the time of writing this article, Ethereum Classic hovers around $25.80, with a daily gain of almost 17%. The note was given its market capitalization: it returned to exceed $3 billion dollars. Now it climbed to 22nd place among the most powerful cryptocurrencies.
Ethereum Classic shows remarkable growth
If you analyze the performance of ETC for the last 7 days their number is remarkable: it increased by 82%, being the second largest growing within the top 100, only behind Lido DAO (LDO), which grew by 149%. How did Bitcoin and its brother Ethereum fare? 18% and 46%, respectively.
Last week, Ethereum Classic was in the $14 range and now, with this huge jump, it earned more than $1 billion in just two days. Will it continue this way for the next few weeks? Its floor during the bear market was $12.60; the maximum in the last year settled at 77.07, while the historical one was at 176.16 in May 2021.
Is it a surprise that the altcoin is rising? No. The rest of the cryptocurrencies have been trending higher for the past few days, many above digital gold. What was a surprise is its superlative performance above ETH.
ETC will continue to rise
Specialists and indicators consider that ETC will continue to grow and that the rally may be greater when Ethereum 2.0 is launched. Everything seems to indicate that it will become the No. 1 cryptocurrency for miners. The last three days he only registered greens and is on his way to a fourth.
If it stays above $25 dollars, analysts consider that it could rise to 30 at the end of the week. If the following forecast materializes, will grow 100%.
“Its 100-day moving average is just below $27, so a crossover to $30 would put it above this level, as well as above its year-to-date moving average. This will consolidate their uptrend over the next week.” described News BTC and added “LSelling pressure remains important as investors are taking profits. However, support is forming at $25 which gives it a soft landing if it is unable to break the resistance at $27. Also, if Ethereum’s rally continues, support will continue to pour into Ethereum Classic, driving its price even higher.”.
Ethereum Classic, excuse the redundancy, is one of the classics of the cryptocurrency market and promises to be back. This was released on July 30, 2015 and maintains the original story. Ethereum was created in 2016, with a change of status, after being hacked. Will you enjoy a new spring?
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