In today’s crypto news, we are going to provide an Ethereum Classic price prediction and offer an analysis of the Ethereum Classic live price. While ETC price isn’t at its best, there are still a lot of good things going on in the Ethereum Classic network. Following the 50% price consolidation attack on Ethereum Classic, many people predicted that Ethereum Classic (ETC) would be wiped out of existence. Months after the attack, how is Ethereum Classic doing?
Ethereum Classic Price Prediction: Ethereum Classic Stands Tall After Network Consolidation Attack
A 50% network consolidation attack happens when a single miner or mining pool has control of more than 50% of the total hash power on a blockchain. This gives the party involved power to manipulate the network and make changes including activating double spend and making away with funds. The latest attack on the Ethereum Classic network was a big blow and it affected the already weak Ethereum Classic price. No matter, Ethereum Classic price prediction is positive long-term. This is because the network has strong fundamentals backing it.
Ethereum Classic (ETC) Price Today – ETC / USD
For starters, the Ethereum Classic network is still the to-go blockchain for those who want a DAO framework. This decentralization Autonomous Organizations framework allows dApps to receive funding. While the DAO framework has many advantages, it also has some disadvantages as well. On the 17th of June 2016, hackers were able to exploit a vulnerability on the framework making away with about 33% of the total funds.
The fact of the matter is that even if Ethereum Classic has been underestimated when compared to its hard fork, Ethereum, it is still a solid project. It has overcome many challenges over time and is still standing tall. Those within the Ethereum Classic community are those who believe in the network and not just those who are interested in profiting from the Ethereum Classic price.
Ethereum Classic Price Prediction: South Korea Has A Thing For Ethereum Classic (ETC)
Ethereum Classic is growing in adoption in Japan and South Korea. Big time digital asset investors within both countries have been investing in Ethereum Classic because they believe it is going to stand the test of time. Many exchanges within these regions have Ethereum Classic listed making it easy for a digital asset investor to purchase the token.
Another cool thing about Ethereum Classic is that the Ethereum Classic live price is affordable compared to Ethereum. You can buy and hodl many units of Ethereum Classic (ETC) with the amount you’ll use to buy one Ethereum (ETH). Just like almost every other cryptocurrency on the crypto news today, Ethereum Classic is gearing up for a bull run as the bears have run out of steam and would soon pave a way for the bulls to take over the market.
At the time of writing, the Ethereum Classic price was $4.68. This shows that it is correcting lower against the USD by 1.94%. Against BTC, it is down by 0.11%. The trading volume over a 24 hour according to coinmarketcap.com is $204,652,937 while the market capitalization is $511,713,571.
What do you think about the crypto news today and particularly the Ethereum Classic price prediction? Share your thoughts in the comment section.