Do you know, Ethereum Classic is one of the top 20 cryptocurrencies in the world, with high potential to grow, it is compared amongst the other hard forks.
So, if you are looking to invest in this coin? Then hope you know about ETC. If No, Read this detailed prediction and forecast about ETC.
Guess what? After reading this article you will have considerable knowledge of ETC. And you will be able to decide how to invest? and when to invest?
Ethereum Classic Price Today
Currently, Ethereum Classic is trading at $ 4.94 with a market cap of $ 562.92 M. It ranks 15th on Coinmarketcap.
What is Ethereum Classic?
Ethereum Classic is the original Ethereum token, built on the smart contracts system, which came into existence in 2015. It helps the developers to run the application easily, with increased security.
Do you know the controversy surrounding the Ethereum DAO hack?. In June 2016, there was a hack that saw an exploit in the DAO smart contract exploited, enabling the hacker to steal 3.6 million ETH from the fund, worth around $55 million during that time.
Withdrawing funds from the DAO locked for 28 days, due to a clause in the DAO smart contract. The Ethereum community was given time to consider whether the blockchain should be forked to roll back the hack, returning the funds to the DAO.
To make a hard fork a decision was taken. But only a few members of the Ethereum community refused to support the new blockchain. They argued that code is the law, and the hack should remain. Finally, in July 2016, there was the execution of a hard fork, where the chains were split into Ethereum and Ethereum classic and since then they are working individually.
In 2018, Ethereum Classic (ETC), along with the rest of the cryptocurrency industry, suffered heavy losses, losing more than 90 percent of its value and reaching its lowest value in over 19 months.
ETC is a result of a hard fork from the original Ethereum and is one of the best performing digital assets till now. Although in 2018 it’s value fell down by around 90 %, we expect it to slowly revive back to its original position.
In March 2017 for the first time, ETH Classic made strong growth against USD, which lasted till June, where ETH Classic reached a peak value of more than $20.
After this, the price slowed down by the end of September. The overall trend in 2017 of the general cryptocurrency market, saw Ethereum Classic with an all-time high of over $45 by January 2018.
But to surprise, in 2018 the great crypto market crash occurred, the value of ETC continued to the dropdown. During this time, Ethereum Classic came as low as $3.33, losing more than 90 percent of its value. In November and December of 2018 Etc coin saw the worst months so far, leading to loss of more than 60 percent in just a month, completing the double top reversal.
The market has considerable hope on Ethereum Classic (ETC) and its potential to grow in the upcoming years. Let us see at what various experts have got to say about ETC and its price.
According to Bein Crypto’s ethereum classic news by the end of 2020, ETC will have 10X more than what it is now and may even go the $50 or $100 by 2020 and in next 5 years, it will go around $200, which might give a tough competition to its parent, Ethereum.
Another famous price prediction site WalletInvestor is very confident on ETC and predicts it by the end of 2020, Ethereum Classic might come down to as low as $0.272.
Digital Coin Price predicts Ethereum Classic might reach $6.56, by the end of 2020.
Trading Beasts also gave a traditional forecast, where it says by 2020 ends, ETC might go high as $27.15 and as low as $18.46.
Ethereum Classic Price Prediction 2020
Currently, major updates of Ethereum Classic is developing embed SVM, which would allow EVM (Ethereum Virtual Machine) and SpitnikVM for embedded applications. Another is of upgrading the ETC JIT compiler, which helps in translating byte code to the native code and will decrease the time of program implementation by 3x to 4X.
Moreover, It looks like ETC developers have plans of EVM backend objective for LLVM. With all these updates, ETC may reach $10 by the end of 2020.
However, some Analysts say that ETC tends to take a bearish turn and reach
0.437 USD with a decrease of 91.0688 %.
As per the ETC roadmap, By 2020 they have planned hybrid consensus research and mesh networks into their system. These will help ETC to make it one of the best cryptocurrencies in the world.
Also, Ethereum Classic might improve its scalability, along with interoperability with other blockchains, which is certainly a great step to attain greater heights. Meanwhile, ETC will get more partnerships due to the upgrades, which might increase its value to $79.393.
Ethereum Classic Price Prediction 5 years
In the next 5 years’ time, Ethereum Classic might reach higher heights and milestones. It may be regarded as one of the top 10 cryptocurrencies in the world. Also, it might give a tough competition to the leading cryptocurrencies. Ethereum Classic would be benefited in adoption all across the world and in partnerships also across the globe. By the end of 2023, ETC might reach $114.842.
Our Price Prediction
Metronome (MET) released an update after the 51% attack on the ETC network, that it would be developing contracts for deploying on the Ethereum Classic (ETC) network to secure transactions.
Also, an ETC development team will be working on core ETC projects, wherein it would provide tools for decentralized applications development and supporting its blockchain services. These all developments gave ETC reasons to rise up from the ashes, and maintain its stability. By the end of 2020, ETC might reach around $35, which would give it a great boost.
Ethereum Classic Successfully Completes Agharta Hard Fork on 12th January 2020
Ethereum Classic successfully completed the “Agharta” hard fork at block number 9,573,000 at 06:26 UTC on Sunday. Agharta took place on 12 January 2020. The hard fork consists of the following features: EIP 145 [Bitwise shifting instructions] which the EVM is currently lacking and EIP 1014 [Skinny CREATE2 opcode] which would be significant for “state-channel use cases that involve counterfactual interactions with contracts.” The final feature will be EIP 1052 [EXTCODEHASH opcode].
Ethereum Classic Labs Partner With iZbreaker
iZbreaker is an invite-only, secure, blockchain-based community which connects people with a three-degree network of friends of friends. This community is now in partnership with Ethereum Classic labs. The ETC labs will provide resources that help them build iZbreaker.
Ethereum Classic Introduces Studio Program
The Ethereum Classic announces the launch of a new studio program which assists new projects to launch on the platform. ETC will also provide tech support to the companies who seek consultation for new projects.
Ethereum Classic Devs Building a ‘Chainhopping’ Bridge Between ETH and ETC
- ETC Labs, the San Francisco-based incubator for the Ethereum Classic (ETC), has announced a partnership with Metronome to build a “ChainHop” Interoperability between Ethereum and Ethereum Classic blockchains.
- Per the announcement, blockchain interoperability—also referred to as “chainhopping”—is a property of a blockchain asset meaning that it can be transferred between separate blockchains. In this case, the cryptocurrency Metronome (MET) will be transferable between the ETH and ETC blockchains.
Atlantis Hard Fork for Ethereum Classic Scheduled for September
- The developers of Ethereum Classic announced a release date of the system-wide upgrade, or hard fork, for the Ethereum Classic blockchain.
- The targeted block number for the so-called Atlantis activation is 8,772,000, which is expected to hit at roughly 12:00 UTC on Sept. 17.
- Currently, the Atlantis hard fork is undergoing testing to weed out any bugs before the fork will be rolled out in September.