obtain Ethereum Classic (ETC) Continue to surpass cryptocurrency peers Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), they all have a large market value.
what happened: According to CoinMarketCap data, ETC has soared by 160.83% in the past 7 days, while BTC and ETH have risen by 3.54% and 26.80% respectively in the same period.
As of press time on Wednesday night, ETC rose 16.85% within 24 hours to $90.06. BTC rose by 4.46% to $57,201.19, and ETH rose by 3.71% to $3,484.
The trading price of ETC is 10.43% lower than the all-time high of $1
Due to widespread disagreements in the community, Ethereum Classic was born after the Ethereum blockchain forked in 2016.
You can also take a look: Kramer owns “a large amount” of Ethereum and says he “does not sell”
Barry Silbert, CEO of Digital Currency Group, which owns Grayscale, is a well-known supporter of ETC.
Ethereum Classic pointed out on Wednesday, Grayscale Ethereum Classic Trust (OTC:ETCG) Assets under management exceed US$1 billion.
Coingtrats is under ~$1B$ETC management @Grayscale! https://t.co/2GqLX1kFmD
-Ethereum Classic (@eth_classic) May 5, 2021
ETCG closed up 27.76% on Wednesday to $67.15.
Why is it important: ETC has attracted the attention of social media investors. As of press time, the cryptocurrency code is displayed in the Stocktwits list of the top ten trending streams.
Although ETC is not actually classified as an “Ethereum Killer”, ETC has risen, for example, polka dot (point), Solana (SOL), and Cardano (Have).
Denis Vinokourov, head of research at Synergia Capital, said that the rise in ETC “seems to be dominated by “cheaper” Ethereum games and retail volumes, which has pushed DOGE to a high level,” CoinDesk reported that the rise in ETC was due to Signs of a bubble in the cryptocurrency market.
You can also take a look: Ethereum Classic continues to soar in the past week, outperforming Dogecoin
The growth driven by ETC retail is similar to Dogecoin (DOGE), has soared 13,604.64% since the beginning of the year. However, even if DOGE’s weekly income is 102.68%, it is weaker than ETC’s income. As of press time, DOGE shares rose 6.63% to $0.63.
continue reading: Bitcoin Bull Novogratz says Dogecoin rally is the “middle finger” of the system
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