Ethereum Classic price prediction – ETC will follow Ethereum soon?
Bitcoin is trading over $95k and gunning for the $100k level again. Meanwhile, Ethereum has broken out of a big range and moved closer to the $2000 level.
Following this, Ethereum Classic has also experienced bullish momentum. Let’s find out how high it can go in this Ethereum Classic price prediction.
Since its launch, Ethereum Classic etc-1.9%Ethereum Classic has seen an all-time high of $167.09 back in May 2021, and since then, the price has seen a decline of 89.8%. At the time of writing, it is now trading at $17.05, with a market cap of $2.58 billion and a 24-hour trading volume of $85.36 million.
In this article, we’ll discuss ETC price prediction by giving you its short-term and long-term price forecasts and exploring whether this token can continue its bullish run.
What is Ethereum Classic?
The original Ethereum (ETH) blockchain, known as ETC, went live in July 2015. Its primary role is that of a smart contract network, capable of hosting and facilitating decentralized applications (DApps). ETC is its native token.
ETC has worked to set itself apart from ETH since its inception, and over time, the two networks’ technical roadmaps have become increasingly divergent.
The way that ETC and ETH handle governance is one of their primary distinctions. With a core development team that decides on the platform’s future, ETH has a more centralized structure. ETC, on the other hand, takes a more decentralized approach to governance, with community members reaching consensus to make choices.
Their development roadmaps are another significant distinction between the two. Following The Merge in September 2022, ETH switched from a Proof-of-Work (POW) consensus mechanism to a Proof-of-Stake (PoS) algorithm. In contrast, ETC has prioritized upholding its original PoW algorithm and adhering to its decentralized tenets.
Now let’s discuss ETC price prediction for this year and in the coming years as well.
