Ethereum Classic [ETC] has turned out to be one of the major coins that has been on a continuous growth in the market. At press time, the coin surpassed Tron [TRX] and Monero [XMR] in terms of rank on CoinMarketCap. Ethereum Classic [ETC] is reigning on the 11th position with a market cap of $2 billion.
The “Original Ethereum” has been brimming with positive announcement since the beginning of this month. The market speculates that the reason for the momentous rise of the coin can be correlated to all the recent announcements. Ethereum Classic [ETC] was recently listed on Robinhood and became the sixth coin to be listed on the platform. Moreover, Coinbase, one of the biggest exchange platform, is all set to accept inbound transfers of ETC on 7th August.
At press time, Ethereum Classic [ETC] was trading at $19.39 and has seen a significant hike of more than 11% in the past 24 hours.In addition, since the past week, the price of ETC has been steadily pumping with the price around $16.90 on 1st August and today it has hiked up to $19.39. There has been an increase of more than $3 and speculation suggests that it would hike to $20 in a short while. Currency365, a Twitterati commented:
“Can we break $20 already ready for the party to begin.”
ETC first took over Monero [XMR]’s position as it was earlier trading on the 12th position. XMR is trading at the 13th position with a price of $113 and a market cap of $1.8 billion.
Tron [TRX] which has been fluctuating between the 11th and 10th position for a long time has a new competitor in the market at present. At the time of writing, TRX was trading at $0.02 with a market capitalization of $1.9 billion. The currency has seen a drop of 3.97% in the last 24 hours.
Twitter user, Ogre_blind said:
“The uncrowned king of crypto!”
The market is also speculating a further rise in ETC’s market capitalization such that it overtakes IOTA [MIOTA] which is currently trading in the 10th position in the market. At press time, MIOTA was trading at $0.77 with a market cap of $2.1 billion. The currency has seen a fall of 14.97% in the last 24 hours.
Twitterati, Stevanlohj commented:
“EthereumClassic soon to take IOTA marketcap position. ETC has better node software anyways.”
Ethereum Classic has also made several other announcements such as software updates as well as community developments. The Ethereum Classic development team has welcomed three new members to their core team. The ETC development team has also released updates for their ongoing projects, Emerald-Js and the Classic Geth project.
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