Perhaps most importantly, Ethereum is also working to become more eco-friendly. Crypto News Flash is your number one source for the latest news and information from the world of cryptocurrencies. What Did the Stock Market Do Today? If this is the case, ETC is in for a wild ride. But importantly, ETC is an altcoin that many investors may have forgotten about in recent weeks and months. Ethereum Classic prices are racing higher, leaving some investors to wonder where the appeal for ETC vs. ETH is coming from. However, as CoinDesk reported, there are genuine reasons that investors may be pouring into Ethereum Classic right now. But this late bloomer is quickly making up for lost time. 9 Things for DOGE Investors to Know, 7 Cryptocurrencies Under $2 That Could Be The Next Bitcoin, SHIB Coin Burn: 15 Things for Shiba Inu Investors to Know as 410 Trillion Tokens Are Torched. As Rearick wrote, investors are divided on ETC. As InvestorPlace contributor Robert Lakin wrote, an interest in decentralized finance (DeFi) and upcoming blockchain upgrades are also helping. Messari highlighted that Ethereum Classic could be an answer to inflationary pressures, because its ultimate supply is capped at 210.7 million coins. In what has come to be retailers vs big corporations, some assets are being artificially pumped with little real value by retail interest. Buterin said that blockchain upgrades will include a shift from proof-of-work to proof-of-stake. Ethereum Classic (ETC) pumps to reach new ATH – what’s pushing prices? While it might be currently less popular among investors than its flashier sibling, Ethereum Classic is still a … Cardano Should Outperform Ethereum by the End of the Year. Ethereum is a decentralized platform that enables anyone to build and implement decentralized applications (dApps). Why ETC prices are pumping remains unclear. With all of these updates in mind, it makes sense that Ethereum prices hit an all-time high above $3,500 yesterday. If you’re a first-time buyer of Ethereum, then it’s likely that you will need to use a traditional payment method. More so, because ETC is already listed in numerous top exchanges like Coinbase and Binance and will enjoy greater demand than DOGE. 7 Things to Consider When Buying ETH: 1. The platform is also open-source, which means anyone can examine its code, updates, and other details in the GitHub repository. All of them were regarded as underdogs in their respective classes. Ethereum Classic prices just hit a new all-time high above $93 according to CoinMarketCap. Another bullish argument is that Ethereum Classic is attracting Ethereum miners ahead of its transition to a proof-of-stake ETH 2.0 blockchain. At least three times, the network has suffered 51% attacks – where an attacker buys or rents enough hash power to manipulate transactions on the network. These capabilities are set to improve significantly following the upcoming Ethereum 2.0 update. Choose Your Deposit Method. 1125 N. Charles St, Baltimore, MD 21201. This caused the volume of ETH short positions to reach a new record. Legals Sarah Smith is the Editor of Today’s Market with InvestorPlace.com. Bullish pressure has seen ETC gain more than 200% in the last 7 days, but the prices could be artificially pumped. Article printed from InvestorPlace Media, https://investorplace.com/2021/05/ethereum-classic-prices-hit-record-high-why-some-are-opting-for-etc-over-eth/. In the last 7 days, ETC has outperformed a majority of top cryptocurrencies and ushered its way into the top 15-ranked coins. All rights reserved. Proof-of-stake will ultimately remove the need for ETH miners. Mining Rewards – Bitcoin vs Ethereum With prices pumping, more and more miners are likely to be lured into Ethereum Classic. This upgrade would push Ethereum’s capabilities closer to 100,000 transactions per second according to developers. None of the information shown constitutes an offer to buy or sell futures contracts, securities, options, CFDs, other derivatives or cryptocurrencies. Many investors are flocking to the No. Most retail traders will not care for any of these with such astronomical gains in such a short time. Why are some choosing ETC over ETH? Readers are requested to form their own opinions on the contents of this website and to seek professional and independent advice before making concrete investment decisions. At the time of press, the coin has retraced to $130 after coming under some selling pressure at the $175 high. Robinhood only supports trading of Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin and…Ethereum Classic, I think I now know where the DOGE money is going next https://t.co/wH72c7Hi6O, — Barry Silbert (@BarrySilbert) May 4, 2021. As Digital Currency Group CEO Barry Silbert noted in a tweet, Robinhood only supports, BTC, BCH, DOGE, ETH, LTC and ETC. With DOGE now slowing and ETC pumping, some are suggesting that retail investors are moving from DOGE and into ETC. However, the rally in ETC has some investors a little confused. ETC rally strength only exceeded by the rally into the end of May 2017. Polygon Price Predictions: Where Will Musk’s Message Take MATIC Next? The Ethereum fork has gained more than 250 percent with more than 40 percent coming in the last 24 hours. Read more! Guess who the underdog is? While Bitcoin, Ethereum and Dogecoin have been garnering much of the attention this year, Ethereum Classic operated under the radar. Ethereum Classic price is up 39% this week at the time of writing and is inching towards the 161.8% Fibonacci extension of the 2018 bear market. Ethereum Classic has the top ten rank in sight after a massive rally in the last 7 days. Ethereum Classic price has printed an all-time this week. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. As InvestorPlace Assistant News Writer Brenden Rearick wrote earlier this week, Ethereum Classic emerged in 2016, after a hack exposed risks in the blockchain. 1125 N. Charles St, Baltimore, MD 21201. That reflects price gains of more than 50% over the last 24 hours. Despite the drop, positive sentiment remains high. But ETH is not alone in its record rally. Current levels of Ethereum energy consumption have prompted investors to find other alternatives. Comparatively, the amount sent on Bitcoin and Ethereum was only $34 billion and $16 billion, respectively, making the value sent across Dogecoin 70% higher than Bitcoin and 260% higher than Ethereum. This fight against inflation is a key driver of interest in cryptocurrencies, meaning the Messari theory does make sense. The content of this website solely reflects the subjective and personal opinion of the authors. Some have gone as far as arguing that Ethereum Classic is a scam being driven by a few Bitcoin maximalists targeting Ethereum. 3 Big Stories to Catch Up On. In fact, the altcoin gained just 26% in 2020, a year that saw exponential gains for other cryptocurrencies. Ethereum, Dogecoin, Ethereum Classic, and many other cryptocurrencies reach their all-time high prices. Robinhood investors have shown a pattern in their investment choices, moving from Tesla to GameStop and in recent weeks, Dogecoin. Why ETH miners can mine ETC is because it was once one unified project. In comparison, DOGE has gained roughly 100 percent in the last 7 days and a little under 3 percent in the last 24 hours. Cardano (ADA) whales spike by 1,231% as the network finds real-world usage, Terra Virtua welcomes marketing veteran Pierre Dadd as new Marketing Director, Ripple partners with Egypt’s largest bank for cross-border remittances, Bitcoin sheds 15% to hit 3-month low as China sends new warning against crypto. On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article. Copyright © Crypto-news-flash.com uses Cookies to ensure the best experience for you. quotes delayed at least 15 minutes, all others at least 20 minutes. renDOGE (RENDOGE), a one-for-one representation of Dogecoin (DOGE) on Ethereum’s (ETH) blockchain — soared to an all-time high of nearly $0.46 on Monday. Ethereum Classic Overview. Data protection policy. On top of switching from a computational effort model, with the upcoming July upgrade, Ethereum will lower rewards to miners. All rights reserved. Grayscale has gone all-in on the altcoin with a stake of over 160,000 ETC. Risk warning and disclaimer: The contents of this website are intended solely for the entertainment and information of readers and do not provide investment advice or a recommendation within the context of the Securities Trading Act. Since earlier this week, Ethereum Classic prices have also been climbing. Ethereum Classic (ETC) has in the last 24 hours reached a new all-time high as it crept above $175. On to Our Ethereum Classic Price Prediction . Only a year ago, crypto was a niche hobby and not a lot of people were aware of crypto trading. Today, the altcoin is trending on Twitter and setting a new record high of its own above $93. 2 cryptocurrency as an alternative to Bitcoin (CCC:BTC-USD). John Kiguru is an astute writer with a great love for cryptocurrency and its underlining technology. The Ethereum network is capable of approximately 15 transactions per second. To disorganize the project which was growing in popularity back in 2016, some Bitcoin evangelists are said to have been pushing to legitimize Ethereum Classic to keep Ethereum down. So where do Ethereum Classic prices go next? Over the years, Ethereum Classic has suffered major security concerns. However, there have been numerous speculations, one of which involves the Dogecoin community. Nasdaq 2021 InvestorPlace Media, LLC. Ethereum is a public chain so that anyone who wants to become an ETH miner can freely join the network. So why are some investors opting for ETC instead of ETH? Copyright © 2021 InvestorPlace Media, LLC. With its rally today, it has already surpassed a handful of year-end targets. This has prompted some on social media to speculate that investors see it as a cheaper version of Ethereum. And where are Ethereum Classic prices headed next? On the other hand, Ethereum has become much larger in terms of market capitalization, and is considered more efficient. You alone bear the risk for your investment decisions. Are Dogecoin Smart Contracts Coming? In 2016, Ethereum Classic was formed as a result of a hack on Ethereum. In a wild week for altcoins, both Ethereum (CCC:ETH-USD) and Ethereum Classic (CCC:ETC-USD) are setting new all-time highs. If you continue to use this site we will assume that you are happy with it! Ethereum Classic Prices Hit Record High: Why Some Are Opting for ETC Over ETH, 7 Short Tokens Soar as Investors Aim to Cash In on the Carnage >>> READ MORE, Ethereum will soon have a sharding feature, ultimately remove the need for ETH miners, after a hack exposed risks in the blockchain, could be an answer to inflationary pressures, Louis Navellier and the InvestorPlace Research Staff. Ethereum Classic’s price seemingly shot up out of nowhere. Both Ethereum and Ethereum Classic offer smart contracts, but since the split, Ethereum has been more robust and its popularity has seen it become the second-largest cryptocurrency in the world. For those who do not know, Ethereum classic is actually the original Ethereum blockchain. The current Etheruem blockchain is actually a fork of Ethereum classic. Some analysts still see prices above $100 in store by December, and Wall Street may soon be revising its forecasts. Contact us This will basically help split its database into mini-blockchains, addressing congestion that users have complained about. Any opinions provided, including e-mails, live chat, SMS or other forms of communication across social media networks do not constitute a suitable basis for an investment decision. The information found on this site does not contain any information or messages, but is intended solely for information and personal use. Fans of Ethereum Classic prefer its commitment to the original technology. Ethereum Classic (ETC) Price Predictions Are on the Rise. About us Ethereum (ETH) reached an all-time high of over $3,500 on May 4, adding to the billionaire status achieved by Vitalik Buterin. With fears of inflation swirling, be sure to keep this story on your radar. These attacks have seen investors and developers prefer the more stable and secure Ethereum. All day he is exploring new digital innovations to bring his audience the latest developments. As Ethereum co-founder Vitalik Buterin recently shared, Ethereum will soon have a sharding feature. To start, Ethereum has been on a tear in recent weeks.

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