Ethereum Classic

What is Ethereum Classic (ETC)?

Ethereum Classic (ETC) is a decentralized open-source blockchain system that emerged from the hard fork of Ethereum. It works more like Ethereum, allowing developers to build smart contracts and decentralized applications (Daaps) with a key difference: immutability. Once something is coded on the blockchain, it can’t be erased.

The project was established post-DAO hack in 2016. DAO (Decentralized Autonomous Organization) is a project on Ethereum that allows people to invest money in new ideas or startups. This project gathered 11 million ETH from 18,000 investors. The hacker exploited the flaw of DAO and withdrew 3.6 million ETH (around $50 million of ether).

This event started a debate in the Ethereum community about reversing the Ethereum blockchain to return the funds stolen but argued that the alteration of the blockchain is against the principles of blockchain. 

To resolve this issue, the miners came up with a hard fork where the Ethereum codebase was split into two blockchains: Ethereum and Ethereum Classic. Ethereum Classic (ETC) is the older version and the newer one was named Ethereum (ETH).

How does Ethereum Classic (ETC) work?

Ethereum Classic works similarly to Ethereum, allowing developers to create and run smart contracts. Unlike Ethereum, it does not use a proof-of-stake mechanism, which consumes more energy to process the transactions. Instead, it utilizes a proof-of-work consensus mechanism where miners are involved in processing the transaction to produce more blocks and earn rewards.

What is an Ethereum Classic (ETC) coin?

The ETC coin is the digital currency of the Ethereum Classic blockchain. The coin is used to power smart contracts, pay transaction fees, and reward miners for keeping the network secure. 

The coin was launched in July 2016 at a base price of around $0.932, and there will never be more than 210.7 million ETC coins.

As of 2024, ETC coin recorded an all-time high price of $176.16 on May 7, 2021, and an all-time low price of $0.4524 on July 25, 2016.

Where to buy Ethereum Classic (ETC) coins?

ETC coins are traded on 80+ crypto exchanges; some popular centralized exchanges supporting ETC coins include Binance, Coinbase, OKX, Bybit, Upbit, and HTX.

Popular decentralized exchanges supporting ETC coins include PancakeSwap, ApSwap, Biswap V2, and Nomiswap.

Wallets for ETC Coin

Security, ease of use, and transaction fees are the key factors to consider while selecting a wallet for ETC coins. 

Some of the best crypto wallets for ETC coins are MetaMask, Ledger Nano S, MyCypto, Trust Wallet, MyEtherWallet, and Exodus.

Ethereum Classic (ETC) Price Prediction 2024-2030

With the limited supply and increased adoption of Ethereum Classic, market experts predict that the price of ETC will significantly increase in the coming years.

As per Coinpedia, ETC was struggling to break the bear trend in the market until 2022, and between 2023 and 2024, the coin reversed the trend and is anticipated to reach a potentially high price of $55 and $12.65.

Ethereum Classic (ETC) Price Prediction 2025:

For 2025, the ETC price is anticipated to range between $60.12 and $41.76.

Ethereum Classic (ETC) Price Prediction 2026:

For 2026, the ETC price is anticipated to range between $64.80 and $48.12.

Ethereum Classic (ETC) Price Prediction 2027:

For 2027, the ETC price is anticipated to range between $77.51 and $52.68.

Ethereum Classic (ETC) Price Prediction 2028:

For 2028,  the ETC price is anticipated to range between $95.38 and $72.51.

Ethereum Classic (ETC) Price Prediction 2029:

For 2029,  the ETC price is anticipated to range between $117.63 and $94.46.

Ethereum Classic (ETC) Price Prediction 2030:

Finally, for 2030, the ETC price is anticipated to range between $158.76 and $108.2.