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Ethereum Classic (ETC) has joined the ranks of the altcoins with impressive growth ticks today. Per data from CoinMarketCap, the cryptocurrency is changing hands at $21.60 in what can be considered one of the biggest price uptrends over the past month.
The Ethereum Classic uptick is a somewhat surprising one, considering the fact that the broader crypto ecosystem is down by 0.48% to $1.23 trillion. Ethereum Classic is one of the legacy digital currencies in the Web3.0 world, and its community and backers are some of the most committed in the world.
As a fork of Ethereum, Ethereum Classic once rode on positive bullish sentiment from the Ethereum ecosystem; however, in recent months, Ethereum Classic has been anchoring its growth based on its own core fundamentals.
Ethereum Classic is bullish on two key metrics, including its daily growth rate, which is up by 2.23% and its total trading volume, which shot up by more than 121% to $366.3 million. The trading volume is indicative of legitimate fuel for the protocol, which can notably sustain growth moving forward.
Gamza KhanzadaevCombating its industry woes
Ethereum Classic has a number of ecosystem woes it is notably recovering from as it looks to regain its pace among the most elite digital currencies.
The crypto network once had a falling out with Cardano founder Charles Hoskinson, a clash that impacted the outlook of the ETC token as one without the backing of top leaders in the industry. Thus far this year, Ethereum Classic has recorded bouts of impressive price action, and from current growth, it is evident that some form of sustained bullish momentum might be underway.
The cryptocurrency has soared by 40% YTD and is showing signs that it will be building on this momentum.
Alex Dovbnya
Arman Shirinyan
Dan Burgin
Vladislav Sopov