Ethereum Classic Joins the Crypto Price Surge

It’s one heck of a time to own Ethereum Classic (ETC), isn’t it? The currency is now booming in price after suffering a 51 percent attack three months …

It’s one heck of a time to own Ethereum Classic (ETC), isn’t it? The currency is now booming in price after suffering a 51 percent attack three months ago in January.

Ethereum Classic: The “Forgotten” Crypto?

The currency is presently up by more than 35 percent and is trading for over ten dollars. Some analysts believe that this is just a strong case of FOMO (fear of missing out), while others go so far as to suggest that the crypto winter is officially over. After all, bitcoin recently spiked beyond the $5,000 mark, while other currencies including Litecoin, Ethereum and EOS are all up with it.

Others are concerned this might be a traditional case of the old pump-and-dump. Jehan Chu – managing partner at Kenetic – thinks there may be more to the story than meets the eye. Discussing Ethereum Classic, he mentions:

The recent price surge across a range of left-behind tokens such as Ethereum Classic demonstrates that the smaller crypto markets are still emotionally driven. The fervor and froth whipped up in these communities quickly become significant price waves. On the other hand, when these waves crash, they’ll inevitably leave some bodies on the rocks.

He later added:

It’s no secret that ETC technical development lags behind many other protocols, but perhaps the price move may reignite interest beyond token speculation into real long-term project growth.

In the back of every trader’s mind is likely the occurrence of the 51 percent attack last January. The event occurred through hackers that had rolled back transactions on Gate.io and ultimately stole approximately 54,000 ETC tokens.

Gate.io later released the following statement:

All the transactions were confirmed normally on the ETC blockchain and became invalid after the blockchain rollback… We suggest all platforms to block the transactions from the attacker’s [listed] accounts. Gate.io’s censor successfully blocked attacker’s transactions at the beginning and submitted them to the manual exam. Unfortunately, during the 51 percent attack, all the transactions looked valid and confirmed well on the blockchain. The examiner passed the transactions. It caused about 40K ETC loss due to this attack. Gate.io will take all the loss for the users.

ETC Finds a New Home Through Circle-Owned Poloniex

Two days ago, on April 9, ETC was released for lending on the Circle-owned exchange Poloniex. Users of the exchange could ultimately lend their Ethereum Classic funds out to other individuals and gain interest on what was being borrowed.

The addition of ETC came at a time when Poloniex was undergoing serious changes. Among these changes were a “major systems upgrade” that allegedly improved wallet functionality and performance and enhanced transaction speeds. In addition, fees were subsequently lowered, and the exchange began listing Grin, later contributing funds to the Grin General Fund.

Tags: Ethereum Classic, Jehan Chu, poloniex

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HIVE Blockchain Technologies (HIVE) Stock Price Down 10%

It engages in the mining and sale of digital currencies, such as Ethereum, Ethereum Classic, and ZCash. The company was formerly known as Leeta …

HIVE Blockchain Technologies logoHIVE Blockchain Technologies Ltd (CVE:HIVE) dropped 10% during trading on Thursday . The stock traded as low as C$0.70 and last traded at C$0.72. Approximately 712,004 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 1,170,138 shares. The stock had previously closed at C$0.80.

The company has a debt-to-equity ratio of 3.09, a quick ratio of 1.20 and a current ratio of 3.22. The stock has a market cap of $251.21 million and a P/E ratio of -3.32.

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About HIVE Blockchain Technologies (CVE:HIVE)

HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. It engages in the mining and sale of digital currencies, such as Ethereum, Ethereum Classic, and ZCash. The company was formerly known as Leeta Gold Corp. and changed its name to HIVE Blockchain Technologies Ltd. in September 2017.

Read More: Quiet Period Expirations

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Ethereum (ETH) Eyes Recovery After A Massive Decline

Ethereum (ETH) has currently reached oversold conditions on shorter time frames. This means that the price could bounce up short term to retest the …

Ethereum (ETH) has currently reached oversold conditions on shorter time frames. This means that the price could bounce up short term to retest the resistance at $187 or possibly extend a rally towards $200 now that fewer people expect it. However, the price still remains overbought on larger time frames and we still believe that it is far from its true bottom yet. That being said, sharp pullbacks like these are followed by some correction to the upside. The Fear and Greed Index has also risen by two points today which means that investors are eager to buy the pullback which could push the price higher in the near future. Traders who have been shorting all the way from $187 would be best advised to lock in some profits here.

The 1H chart for ETH/USD shows that the majority expected the price to break to the upside which it did but it was a fake out. It was soon followed by a break below the ascending triangle that inflicted maximum pain on overly bullish traders who entered aggressive long positions despite the price being massively overbought on most time frames. The Bollinger bands on the hourly chart now point to a swift recovery to the upside towards the end of the week. The S&P 500 has also been stalling a move to the downside and has still some room to move up. This is why we expect ETH/USD to rally higher from here in the days ahead. The price may find it difficult to breach the previous resistance around $187 but considering that the RSI has now cooled off significantly on the daily time frame, the probability of a move towards $200 has increased.

Lest we forget, the big picture remains intact and it points to a sharp decline long term. Ethereum (ETH) has yet to bottom and any short term moves to the upside are fueled by greedy bulls who want to enter aggressive longs before the next bull run. As we have seen in the past, this does not end well for retail traders and a lot of neophyte traders are going to get hurt while Bitcoin (BTC) trades between $3,000 and $6,000. ETH/USD is currently trading below its 200 day exponential moving average. As long as it trades below that level, there is no bullish case and the price will have to decline at least towards the trend line support if not lower.

The Stochastic RSI on the daily time frame shows that we could see a plot twist where the bulls take over again to push the price towards $200. Traders who are trying to short Ethereum (ETH) must account for this possibility as its probability has increased now that the price has cooled off a bit. That being said, the long term outlook remains unchanged and ETH/USD will have to decline to a double digit price in the weeks and months ahead to find its true bottom.

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Ethereum (ETH) Price Analysis: Ethereum’s Price on a Standstill With Break-in Bulls Reign

Ethereum is a public, open-sourced blockchain based platform, which features smart contracts. Ethereum is a platform that hosts its cryptocurrency …

Ethereum is a public, open-sourced blockchain based platform, which features smart contracts. Ethereum is a platform that hosts its cryptocurrency called the Ether (ETH). Ethereum platform mainly served the users to build programs without the involvement of middlemen. It used central servers to store information that makes them less exposed to abuses of those intermediaries and authorities. It is the second largest cryptocurrency in the market with the market capitalization of 45 billion dollars. The Ethereum core facilitates the building of decentralized applications on top of the Ethereum blockchain such as on-chain digital assets (ERC-20 tokens), non-fungible assets, decentralized exchanges, DAOs, and smart contracts. These smart contracts are essentially the prominent feature of Ethereum.

Current Performance

Ethereum

EthereumETH coins are being traded at 171.90 USD on April 11 at 12:24 UTC for its relative MCap trading at USD 18,154,551,455. Based on stats, Ethereum is the 2nd largest currency in the crypto market after Bitcoin. This is also evaluated based on the circulating supply of 105,610,809 ETH coins and its corresponding 24h volume worth of $7,969,924,114. Coinmarketcap assesses the proximate return on investment for this cryptocurrency to be 5,968.57%.

Market Expansion

According to Coinmarketcap, Ethereum had been trading at USD 14 billion and for 135.39 USD one month earlier on March 11. The overall market has been growing gradually throughout. Ethereum spiked significantly when the crypto market boomed at the beginning of April. The values jumped from USD 14,940,577,410 trading at 141.64 USD on April 02 at 05:44 UTC to USD 18,769,586,776 trading at 177.89 USD per token on April 04 at 02:44 UTC. The values hiked by 25.63% and 25.59% in 02 days. The market capitalization peaked crossing USD 19 billion between April 08 and 11. The current values have deflated from the peak with an insignificant difference.

Price Predictions for ETH

Ethereum’s market looks appealing with a major hike in prices. Based on the analysis, crypto experts estimate Ethereum would be trading close to 1400 USD around the end of 2019 and increase to an all-time high of 15000 USD in early November 2020. However, they expect a downtrend period from December 2020 to June 2022, with the prices decreasing to 4600 USD and a bottom of 950 USD. However, they forecast this to be a brief deterioration and that the prices would increase again by five year investment period.

Conclusion

The market, on the whole, is under the bulls rule and hence in favor of both long term and short term investment plans. This cryptocurrency is stable with its long years of involvement in the crypto market. Hence, Ethereum will return high profits for long term investments.

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Ethereum Classic (ETC) Price Hits $6.89 on Top Exchanges

Ethereum Classic (CURRENCY:ETC) traded down 2.4% against the US dollar during the one day period ending at 22:00 PM Eastern on April 10th.

Ethereum Classic logoEthereum Classic (CURRENCY:ETC) traded down 2.4% against the US dollar during the one day period ending at 22:00 PM Eastern on April 10th. Ethereum Classic has a total market cap of $755.10 million and approximately $521.16 million worth of Ethereum Classic was traded on exchanges in the last day. Over the last seven days, Ethereum Classic has traded 23% higher against the US dollar. One Ethereum Classic coin can currently be purchased for $6.89 or 0.00130014 BTC on popular cryptocurrency exchanges including LiteBit.eu, BTC Trade UA, Crex24 and OKEx.

Here is how other cryptocurrencies have performed over the last day:

  • Ethereum (ETH) traded 2.3% lower against the dollar and now trades at $175.14 or 0.03305907 BTC.
  • Bitcoiin (B2G) traded up 13.2% against the dollar and now trades at $0.29 or 0.00005443 BTC.
  • Callisto Network (CLO) traded down 0.2% against the dollar and now trades at $0.0038 or 0.00000072 BTC.
  • Musicoin (MUSIC) traded 0.2% lower against the dollar and now trades at $0.0010 or 0.00000019 BTC.
  • Bowhead (AHT) traded flat against the dollar and now trades at $0.0244 or 0.00000377 BTC.
  • Ellaism (ELLA) traded down 15.1% against the dollar and now trades at $0.0100 or 0.00000189 BTC.
  • Akroma (AKA) traded 12.8% higher against the dollar and now trades at $0.0077 or 0.00000146 BTC.
  • Elementrem (ELE) traded flat against the dollar and now trades at $0.0047 or 0.00000120 BTC.
  • DaxxCoin (DAXX) traded flat against the dollar and now trades at $0.0001 or 0.00000003 BTC.
  • WhaleCoin (WHL) traded flat against the dollar and now trades at $0.0007 or 0.00000019 BTC.

Ethereum Classic Coin Profile

Ethereum Classic is a proof-of-work (PoW) coin that uses the Ethash hashing algorithm. It was first traded on July 23rd, 2016. Ethereum Classic’s total supply is 109,630,241 coins. The Reddit community for Ethereum Classic is /r/EthereumClassic and the currency’s Github account can be viewed here. Ethereum Classic’s official Twitter account is @eth_classic and its Facebook page is accessible here. The official website for Ethereum Classic is ethereumclassic.org. Ethereum Classic’s official message board is forum.ethereumclassic.org.

Ethereum Classic Coin Trading

Ethereum Classic can be purchased on these cryptocurrency exchanges: Bitfinex, BTC-Alpha, Coinut, HitBTC, Upbit, Bittrex, Gatehub, OKEx, QBTC, LiteBit.eu, ChaoEX, Cryptomate, Binance, Korbit, Crex24, BTC Markets, LBank, Exmo, Coinone, C-CEX, Kraken, BtcTrade.im, Exrates, Bibox, Kucoin, Koineks, Bitsane, Coinsuper, OKCoin International, Bit-Z, Bithumb, Huobi, Coinroom, Gate.io, Coinbase Pro, FCoin, EXX, BitForex, Cryptopia, BigONE, CoinEx, CPDAX, Poloniex, Indodax, Ovis, CoinTiger, C2CX, Liquid, Bitbns, Coinhub, RightBTC, ZB.COM, YoBit, CoinBene, BCEX, BTC Trade UA, Instant Bitex, Stocks.Exchange, CoinEgg, CoinExchange, Coinnest, ABCC and HBUS. It is usually not possible to purchase alternative cryptocurrencies such as Ethereum Classic directly using U.S. dollars. Investors seeking to acquire Ethereum Classic should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Ethereum Classic using one of the exchanges listed above.

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