For most of crypto enthusiasts, their eyes are glued on market reactions after new announcements. Well it is different for Ethereum Classic (ETC). Putting the conflicts between ETC and Ethereum (ETH) aside, experts predicts ETC price will hit the $75 by end of first quarter. A lot is expected on the ETC ecosystem that might turn it to a gold mine faster than expected.
Why Ethereum Classic (ETC)?
To put you up to speed with keen Ethereum Classic enthusiasts, ETC is the original Ethereum blockchain. Participants who were not happy with the goings on left immediately after the Decentralized Autonomous Organization (DAO) hack of 2016. However the platform has stayed steadfast and held on to its immutable nature. The DAO attack where more than 50 million worth of Ethereum’s tokens were stolen leading to a fall-out is still fresh and a lot of convincing is need to restore investor confidence.
The stolen tokens have since been recovered, the rift still remains and seems to widen. Members were divided because of the existing vulnerabilities while other remained out of trust on the system. According to their website Ethereum classic (ETC) is fully decentralized, immutable and unstoppable which is a plus when compared to Ethereum.
Ethereum Classic Trending News
Currently, ETC is set to test new price heights. The coin is now trading at $36.71 (12.31%) a plus from the previous $13.97 early February. With the much hypedlaunch of Callisto airdrop in March 5th, this will be looking up for the token. With the current trends, experts predict that ETC will be trading at $75 by early April.
Having set a base above the $35 threshold, achieving accelerated growth trends is now a reality. The hype around the Callisto is the current catalyst and more investors are keeping their tabs close expecting a boom.
How will Callisto Impact on Ethereum Classic (ETC)?
Many investors and enthusiasts tend to think that Callisto is a fork. This is not true. This is an independent project aimed at enhancing the Ethereum Classic scalability. This will enable implementation of various cross-chain services and functionalities.
The goo attribute of Callisto is the air-drop function; it will enable all ETC holders to get equal amount of Callisto (native Callisto tokens CLO) tokens in all Ethereum Classic supported wallets including MyEtherwallet and ClassicEtherWallet. The Air-drop feature will greatly influence the coin and drive it towards $75 if the current cryptocurrency landscape remains stable.
According to OKEx exchange, Ethereum Classic is the ETC/BTC pair leads in terms of volumes. This implication is that investors are keen on the latest developments around the token; an uptick that may continue for better part of the first trading quarter.
Why Add Ethereum Classic (ETC) to Your Portfolio?
Many investors are more informed that three years ago on what to look for in a cryptocurrency and it seems there is a lot of interest on ETC and the Callisto launch. This will create an ideal environment for institutions and investors of repute to buy ETC coins through Ethereum Classic Investment Trust. This will be a boost for the entire platform users and participants.
High net worth individual investors are also eyeing the coin. Currently the coin helps in diversifying investor exposure that will benefit them with high returns which is the essence of any digital currency. With major digital currencies and Altcoins, you put your stakes there are future gains and profits.
Ethereum Classic (ETC) is still young in the market and you cannot compare it with Ethereum (ETCH) in terms of uptake and traction. However, if the current price surge holds any water and the current excitement and hype, hitting the $75 mark should come faster than anticipated.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.