Ethereum, Ethereum Classic and Monero Crash as Bitcoin Surges
As Bitcoin price continues to enjoy an upward thrust, Ethereum, Ethereum Classic and Monero continue to struggle. Bitcoin is heading towards clear blue skies. A 12.5 percent appreciation of the digital asset over a period of one week is no joke. While it is good news for Bitcoin, the same can’t be said for other promising cryptocurrencies. Ethereum. Ethereum has been having its fair share of problems even before the increase of Bitcoin price. Under sustained attack, transactions on the Ethereum network almost came to a standstill, with each transaction taking hours if not days for....
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Ethereum classic (ETC) has seen a rally in the last 24 hours, in a massive reversal of fortunes. Ethereum classic is a result of the forking of the Ethereum which, ironically, comes from a decision by the Ethereum foundation to fork Ethereum to try to restore the money lost in the DAO hacking incident earlier on. In a message released by the promoters of Ethereum Classic they made their intentions clear: they do not accept the fork which was made to reimburse DAO investors. They say: “The Ethereum Foundation responded to the DAO debacle in the worst way possible. Special interests....
The digital currency ether classic (ETC) surged more than 30% on 29th December, reaching its highest price in over four months. ETC, the signature token of smart contract-based platform Ethereum Classic, rose to as much as $1.46 during the session, a 31.5% increase from the currency’s opening price of $1.11, CoinMarketCap data reveals. Ethereum itself grew by as much as 13.7% today. Ethereum classic also benefited from a sharp increase in transaction activity, as 24-hour trading volume climbed above $7.6m, after falling below $500,000 at some points over the last week. Several market....
Ethereum Classic is preparing another hard fork. It was announced in statements published last week that the project’s development and mining community is committing to a change in its monetary policy by December of this year. Essentially a move to a new protocol, all current Ethereum Classic users and miners should have upgraded their software by then. If everyone does not upgrade their software, the project can split into two incompatible networks, blockchains and currencies. Of course, that is exactly how Ethereum Classic itself broke away from the Ethereum Foundation’s Ethereum last....
Ethereum Classic is all set to get a hard fork of its own soon to counter the sustained DOS attack. Ethereum Classic is on its way to get a hard fork in the next two days. Ethereum recently split into two blockchains following a hard fork introduced by the Ethereum development team a few months ago. The hard fork resulted in two versions — Ethereum (ETH) and Ethereum Classic (ETC). While Ethereum continued to operate on the new fork, a portion of the cryptocurrency community decided to continue with the original Ethereum blockchain, calling it Ethereum Classic. Ethereum recently came under....
Ethereum Classic is an altcoin that has seen tremendous growth this year. It has ridden the bull along with other top coins. And it doesn’t look like the coin is stopping yet. The coin was trading for as low as $7 at the beginning of 2021. But with April came an uptrend in the price […]