Last week, stong interest from financial institutions and big investors made Ethereum Classic (ETC) saw an increase of more than ten percent. The existence and the growth of the coin to this level is actually surprising due to the fact that pessimists doubted that the coin would survive after its disreputable hard fork.
Until the recent decline and selloff in the crypto market, altcoins saw a week of massive gains. Ethereum Classic (ETC) was one of the top gainers, with an increase of more than twenty percent in less than twenty-four hours. The reason for the upsurge was that the digital currency saw an array of top announcements from prominent financial investors.
Ethereum Classic (ETC) Secures Strategic Partnerships And Attract Large Financial Institutions
Over the past month, Ethereum Classic (ETC) has secured interest from a least two financial companies; this promises to expose the digital currency to both institutional investors and consumers. The first positive news for the digital currency came on the 28th of August, as Kingdom Trust announced they were launching a custodian platform insured by Lloyds of London.
The custody platform included a few digital currencies, and Ethereum Classic (ETC) made it to the list of featured digital currencies. The next big news for the coin came on the 30th of August when Balance – a crypto firm based in Canada – announced that they were launching a digital currency custody platform.
According to the report, the platform would feature military-grade security and it would offer a digital currency management solution and secure offline storage. Institutional investors are the major targets of the firm, such as hedge funds, family offices, and depository banks. Ethereum Classic (ETC) is among the eight digital currencies that would be supported on the platform.
Ethereum Classic (ETC) Price Today – ETC / USD
The value of the coin has not been spared by the recent dip in the crypto market. However, the digital currency is very much on the radars of exchanges, financial firms, and other interested investors. The digital currency still has the potential to surge higher in the near future as more developments and positive news are still flowing in its direction