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Ethereum Classic Price Explodes to Four-Month High — Major Upgrade the Cause?


Ethereum Classic Price Explodes to Four-Month High — Major Upgrade the Cause?
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Ethereum Classic, the original chain of the Ethereum blockchain, has managed to make some impressive gains in this current positive market situation. The cryptocurrency jumped as much as 34 percent over the weekend, rocketing the cryptocurrency to a four-month high above $7.50.

Unlike Bitcoin’s recent rally, it is probably a lot easier to pinpoint why Ethereum Classic is rising as the blockchain will be implementing a new upgrade. Much like Ethereum is in the process of working towards its Casper update, Ethereum Classic is about to implement ECIP-1054, otherwise known as Atlantis.


While upgrades to blockchains come and go, it is interesting to note how the news of an intended upgrade has had a strong impact on the price. It is testament to a change in market sentiment across the whole of the cryptocurrency and blockchain ecosystem.

Bullish moves

Ethereum Classic managed to reach as high as $7.79, its best mark since November 16, 2018, over the weekend. It is now sitting closer to $7.46 having come back down slightly, but it is still up over eight percent in the last 24 hours, making it one of the top performing coins on Monday.

The bullish Sunday saw exchanges posting around $1.238 billion worth of volume for the 24-hour period of ETC. Most trades were concentrated in Tether, Bitcoin, and Ethereum markets. Hong Kong-based OKEx hosted almost 17-percent of ETC-enabled trades.

The next stage

Atlantis, as stated on GitHub, will be a protocol upgrade that will “enable the outstanding Ethereum Foundation Spurious Dragon and Byzantium network protocol upgrades on the Ethereum Classic network.” In other words, the blockchain will hard fork to create an upgraded chain.

Whenever it comes to a fork in a coin, though, it is important to note that the rally might not be sustainable, rather it could be that investors are buying up ETC in order to receive equal amounts of the forked cryptocurrency that comes from it.

The Bitcoin Cash price surged by $250 a week before its hard fork last year – only to crash soon after.

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Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?


Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?
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On a day where the markets are predominantly in the red, but only slightly, it is interesting to note that Binance Coin is surging. The exchange token is up fiver percent, but it is totally understandable as to why there is so much positivity around the company.

The biggests news, which comes off the back of its decentralized platform, Binance DEX, is that the Binance Chain mainnet has been launched and that they will be executing their Mainnet Swap on April 23rd.


This means that Binance Coin will be shifting away from Ethereum, leaving questions open as to what this means for Ethereum, which has been under the pump to stay relevant in today’s crypto and blockchain space. This move will result in a migration of $3 billion worth of BNB being moved away from the Ethereum blockchain and onto the new Binance chain.

A positive investment

All the good news emanating out of Binance has not only helped the coin to climb in price when the rest of the market settles down – it is helping it head towards a new all time high. Binance, like many altcoins, reached its ATH in January of 2018 in that parabolic stage.

Binance Coin hit $24 back then, and now, it is at $21 and rising with the thoughts being that when the mainnet move takes place, there could well be an even bigger surge. It is also interesting to note that just a few months ago, at the end of last year, it hit lows of $4.50.

Competing with Ethereum?

The mainnet move is obviously good news for Binance, as the markets are suggesting, but is it equally bad news for Ethereum, which was the holder of $3 billion thanks to the exchange. Many people have speculated that this new blockchain platform will pose competition to Ethereum, but ultimately it will help diversify Binance Coin’s use cases while also increasing its utility.

So perhaps rather than being a direct competition to ETH, it is only going to strengthen Binance Coin and in doing so perhaps spell out the future of cryptocurrencies as there is good reason to believe that this token, with its added utility and use cases, will be a viable token for the world going forward.

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