Yesterday’s High Under the Microscope: Ethereum Classic Investment Trust (ETCG)

Ethereum Classic Investment Trust (ETCG)’s highest trade price for the day was $7.6, while the lowest trade price was $7.25. Change is the space …

Ethereum Classic Investment Trust (ETCG)’s highest trade price for the day was $7.6, while the lowest trade price was $7.25. Change is the space between the current price and the previous day’s settlement price. Change describing and measures data over a given time period. A negative change is indicative of a declining performance while a positive change means performance has improved.

The formula for finding change is by subtracting the previous time period from the most recent time period. If a company trades at $20 at the end of the first quarter and $40 at the end of the second quarter, the change $40 minus $20, or $20. Here we find the change to be positive, but by how much?

The price went up from $20 to $40, so it doubled. In this example, the company’s stock price grew 100% in the first quarter. Investors like change. Change allows investors to make a profit. In volatile markets, there are many opportunities for investors to make up for losses.

Prices are based on the change in price of assets. Value is based on changing prices. “Calls” make a bet that the price of the asset will increase, while “puts” bet that the price of the asset will go decrease. More volatility means that there is more likely a chance for investors to make a profit. Ethereum Classic Investment Trust (ETCG)’s share price changed $+0.41, with a percent change of +1.33%%.

Volume is the number of shares traded specific period of time. Every buyer has a seller, and each transaction adds to the total count of the volume. When a buyer and a seller agree on a transaction at a certain price, it is considered to be one transaction.

For example, if only ten transactions occur in a trading day, the volume for the day is ten. Volume is used to measure the relative worth of a market move. When the markets make a strong price movement, the strength of that movement depends on the volume over that period. The higher the volume means the more significant the move. Volume levels give clues about where to find the best entry and exit points.

Ethereum Classic Investment Trust (ETCG) experienced a volume of 4700.

Volume is an important measure of strength for traders and technical analysts because volume is the number of contracts traded. The market needs to produce a buyer and a seller for any trade to occur. The market price is when buyers and sellers meet. When buyers and sellers become very active at a certain price, this means that there is high volume. Bar charts are used to quickly determine the level of volume and identify trends in volume.

A 52-week high/low is the highest and lowest share price that a stock has traded at during the previous year. Investors and traders consider the 52-week high or low as a crucial factor in determining a given stock’s current value while also predicting future price movements. When a commodity trades within its 52-week price range (the range that exists between the 52-week low and the 52-week high), investors usually show more interest as the price nears either the high or the low.

One of the more popular strategies used by traders is to buy when the price eclipses its 52-week high or to sell when the price drops below its 52-week low. The rationale involved with this strategy says that if the price breaks out either above or below the 52-week range, there is momentum enough to continue the price fluctuation in a positive direction.

Ethereum Classic Investment Trust (ETCG)’s high over the last year was $69.89 while its low was $4.655.

Barchart Opinions show investors what a variety of popular trading systems are suggesting. These Opinions take up to 2 years’ worth of historical data and runs the prices through thirteen technical indicators.

After each calculation, a buy, sell or hold value for each study is assigned, depending on where the price is in reference to the interpretation of the study. Today’s opinion, the overall signal based on where the price lies in reference to the common interpretation of all 13 studies, for Ethereum Classic Investment Trust (ETCG)’s is Falling. Their opinion strength, a long-term measurement of signal strength vs. the historical strength, is 0.1.

Opinion strength ranges from Maximum, Strong, Average, Weak, Minimum. A stronger strength is less volatile and a hold signal does not have any strength. The Opinion Direction, a three-day measurement of the movement of the signal, an indication of whether the most recent price movement is going along with the signal. Strongest, Strengthening, Average, Weakening, or Weakest.

A buy or sell signal with a “strongest” direction means the signal is becoming stronger. A hold signal direction indicates where the signal is heading (towards a buy or sell): Bullish, Rising, Steady, Falling, or Bearish. Ethereum Classic Investment Trust (ETCG)’s direction is Hold. Ethereum Classic Investment Trust (ETCG)’s Previous Opinion, he overall signal from yesterday, based on where the price lies in reference to the common interpretation of all 13 studies was -81.10.

Disclaimer: Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.

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Crypto Daily Exclusive! An Interview With ECC Director Anthony Lusardi

“In April 2017, Grayscale Investments, a digital currency asset management firm and a wholly-owned subsidiary of the Digital Currency Group, …

We are pleased to bring you an exclusive interview with the Director of the Ethereum Classic Cooperative – Anthony Lusardi. Brian Wilson, the presenter of The Daily 2 series at Crypto Daily discusses a range of topics with Anthony in our latest extended video.

We would like to thank Anthony Lusardi for giving us the time to complete this interview and of course for the incredible insight given throughout!

Who is Anthony Lusardi?

Anthony is the Director of the Ethereum Classic Cooperative (ECC):

“Anthony has been contributing to the ETC community since the start. He will continue to support the community in a fair and open way, providing support to users and the ETC ecosystem. He wears many hats and is always available to help users and developers navigate ETC.”

For those who don’t know, the ECC is the team that works alongside Grayscale Investments and other contributors to the Ethereum Classic network. According to their website:

“In April 2017, Grayscale Investments, a digital currency asset management firm and a wholly-owned subsidiary of the Digital Currency Group, launched the Ethereum Classic Investment Trust (“ETC Trust”). Grayscale held the view that the market was underappreciating the value in Ethereum Classic as a global digital currency and smart contract payment platform that could power the Internet of Things. Through a traditional investment vehicle, the ETC Trust allows investors to gain exposure to ETC’s disruptive potential and invest in its growth and development.”

Moreover:

“The ECC is the entity overseeing the use of capital it receives from Grayscale Investments as well as other individuals or entities who contribute to Ethereum Classic through its funding platform. The ECC testifies to and is aware of the responsibility which it has to prudently deploy capital into the Ethereum Classic ecosystem.”

In our latest interview, Anthony talks all things Ethereum Classic and provides some exciting insight into the future of the ETC project, the work that is done by the ECC and blockchain technologies in general. Please take the time to watch the video and leave any questions you have in the comments below!

https://ethereumclassic.org

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Ethereum Classic 51% Attackers Return $100000 to Crypto Exchange Gate.io

Ethereum Classic 51% Attackers Return $100,000 to Crypto Exchange … Those responsible for the recent 51% attack on Ethereum Classic (ETC) … After the attack, the cryptocurrency’s price dropped from about $5 to a $4.3 low.

Those responsible for the recent 51% attack on Ethereum Classic (ETC) have reportedly returned $100,000 worth of stolen funds to an affected cryptocurrency exchange, Gate.io, after the firm tried to contact the attacker.

According to a recently published post Gate.io hadn’t heard back from the attackers until now. Since some of the stolen funds were returned, the exchange now believes the hacker may have been a white hat hacker, and not someone trying to profit off of the move.

We still don’t know the reason. If the attacker didn’t run it for profit, he might be a white hacker who wanted to remind people the risks in blockchain consensus and hashing power security

Gate.io noted, however, that its analysis found ETC’s blockchain is still vulnerable to attacks and, as such, has raised the number of confirmations on its platform to 4,000. It has also launched a “strict 51% detect for enhanced protection.”

It advised other crypto exchanges to adopt similar measures to protect themselves against similar attacks in the future. As CryptoGlobe covered, the exchange revealed earlier that it was affected by the 51% attack on Ethereum Classic, as it had to cover nearly $200,000 worth of losses after 40,000 ETC tokens were taken from its wallets.

While initially the development team behind ETC claimed the 51% appeared to not be an actual attack, it soon recognized it was. A private ETC mining pool has recently been found to be accumulating hashpower since the attack, which could mean it’s planning to do the same thing.

According to https://t.co/VDB3r2cPo6, the attacker of ETC 51% attack has returned ETC worth $100,000. Thanks to the ETC community’s efforts over the past week, this is a perfect ending.@eth_classic@ClassicIsComing

report: https://t.co/CMEdw6hZVspic.twitter.com/nO3bVj5IFJ

— SlowMist (@SlowMist_Team) January 12, 2019

Meanwhile Grayscale Investments, the organization behind the Ethereum Classic Investment Trust (ETCG), informed some of the investors that contacted them about the incident that ETCG’s funds are “not at direct risk.”

This, as according to Vertcoin developer Gert-Jaap Glasergen, 51% attacks can only double spend the attacker’s own coins, not someone else’s. The risk, as such, is for those who accept ETC – or another attacked cryptocurrency – for goods and services, like cryptocurrency exchanges.

At press time, ETC is trading at about $4.55 after falling 2.3% in the last 24-hour period. After the attack, the cryptocurrency’s price dropped from about $5 to a $4.3 low.

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Grayscale Investments Assures Its Investors Ethereum Classic Trust Funds Not At Risk Directly

Earlier this week BitcoinExhangeGuide reported a story about the 18th largest cryptocurrency, Ethereum Classic appeared to have become the latest …
Grayscale Investments Assures Its Investors Ethereum Classic Trust Funds Not At Risk Directly

Earlier this week BitcoinExhangeGuide reported a story about the 18th largest cryptocurrency, Ethereum Classic appeared to have become the latest blockchain network to succumb to a 51 percent attack, wherein a malicious miner accrues a majority of the network hashpower and uses it to rewrite recent blockchain data.

Coinbase announced that it had identified multiple instances where the attacker exploited that majority hashrate to execute double spend attacks, which are generally directed against cryptocurrency exchanges. The engineers of Coinbase later reported that the attackers had successfully executed “repeated deep reorganizations of the Ethereum Classic blockchain, most of which contained double spends.” Altogether, the firm said, “value of the double spends that we have observed thus far is 219,500 ETC.

Funds safe at Grayscale Investment

In the wake of the attack Grayscale Investments who also created the Ethereum Classic Investment Trust (ETCG), sent an email to its investors explaining the details of the attack. The email read:

“The greatest risk this poses is to the integrity of the Ethereum Classic Network, as people may be less inclined to accept ETC given the increased double-spend risk. However, the coins within the ETC Trust are not at direct risk of theft or double-spending.”

At the end of 2018, the trust had confirmed that they have about $25 million under their management. It was launched in 2017 as a private placement. Currently only verified investors can buy its shares from Grayscale and are contractually bound to hold it for at least a year.

The email further explained the attack by saying:

“Double spending can only be done by the original sender of the coins — so an attacker can only double spend his own coins, not someone else’s. So, the main risk of 51 percent attacks and blockchain reorgs is with people [who] accept the blockchain’s asset; and mostly when they do so in large amounts in exchange for virtual goods or services that are non-reversible.”

The managing director of Grayscale, Michael Sonnenshein, had earlier said:

“As often occurs following developments in the digital asset ecosystem, Grayscale received inquiries from a few investors about the recent 51 percent attack on the ETC network. We provided investors who contacted us with publicly-available information explaining how these attacks occur. These types of network attacks and their implications are also described in the disclosure documents we provide all investors.”

It appears that Grayscale wants to distance themselves from the incident. Yaz Khoury of the Ethereum Classic Cooperative said: “other than provide financial help and advice to the Cooperative, they’re very hands-off in how we manage to help the ETC community and ecosystem.”

Ethereum Classic Investment Trust Funds Are ‘Not at Direct Risk’ Says Grayscale Investments

Grayscale Investments, the organization behind the Ethereum Classic Investment Trust (ETCG), a financial product that tracks the price of Ethereum …

Grayscale Investments, the organization behind the Ethereum Classic Investment Trust (ETCG), a financial product that tracks the price of Ethereum Classic (ETC), has recently told a “few” investors that the funds in the product aren’t at risk.

Grayscale reportedly responded to client emails that expressed concern over their investments, in light of the recent 51% attack on ETC. According to CoinDesk the firm responded to its investors through an email, that wasn’t sent to all those who put money in the fund.

In the email, product development and research associate at Grayscale Matt Beck reportedly went into how 51% attacks work, and noted that the ETC Trust funds are “not at direct risk of theft or double-spending.” He was quoted as saying:

The greatest risk this poses is to the integrity of the Ethereum Classic Network, as people may be less inclined to accept ETC given the increased double-spend risk. However, the coins within the ETC Trust are not at direct risk of theft or double-spending.

Beck went on to quote Vertcoin developer Gert-Jaap Glasergen, who had in the past noted double spending attacks can only be done with the attacker’s own coins, not with someone else’s, which means the real risk is for those who accept ETC for goods or services, like exchanges.

As CryptoGlobe covered, cryptocurrency exchange Gate.io had to endure an over $200,000 loss because of the attack,  as at the time it occurred the transactions seemed to be legitimate and were confirmed on the cryptocurrency’s blockchain.

Michael Sonnenshein, a managing director at Grayscale, told CoinDesk that the firm did receive inquiries from “a few investors” about the 51% attack on ETC’s network, and that in response it sent investors “publicly-available information explaining how these attacks occur.”

As of December 31, the Ethereum Classic Investment Trust had about $24.9 million under management. Grayscale manages these funds for a fee, allowing institutional investors to gain exposure to the cryptocurrency ecosystem without having to manage the cryptos themselves. ETCG’s price tracks that of ETC.

It’s worth noting that both CoinDesk and Grayscale Investments are owned by the Digital Currency Group (DCG), whose owners’ tweets on ETC have in the past reportedly raised concerns.

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