Ethereum Classic is like the acoustic guitar of the rock world, a world dominated by electric guitars and synthesizers, yet when it’s there, the acoustic guitar plays a poignant part in any performance.
What exactly is Ethereum Classic?
According to the Ethereum Classic website:
“Ethereum classic is a decentralised platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version, preserving untampered history: free from external interference and subjective tampering of transactions.”
As a spin-off of Ethereum, Ethereum Classic hopes the latch onto the founding principles of Ethereum and cryptocurrency in general. As a currency, Ethereum Classic does have a good grip on the market and is a very popular currency. At present, it is ranked 17th on CoinMarketCap.com.
So how is Ethereum Classic doing today?
Very well, obviously the markets in general have had a great morning, but Ethereum Classic is standing out with what seems to be, a cracking performance. At the time of writing, Ethereum Classic is valued at $17.77, up 5.11%. This comes off the back of a very confident performance throughout April.
SInce the 6th of April, Ethereum Classic has gained almost $5.00, in that time it has seen very little in the way of troughs, generally, Ethereum Classic has seen a super positive trajectory. If this carries on, Ethereum Classic may very well reach $20.00.
What would this mean?
It means quite a lot actually. Let’s remember that Ethereum Classic had a very rare peak after the main rush of the cryptocurrency boom at the start of the year had ended. The boom did encourage Ethereum Classic to peak, but, it peaked again soon after, a rare occurrence given that post-boom, the majority of currencies continued to sink right through until the start of April. This second peak saw Ethereum Classic hit $43.00. A reach to $20.00 means that the currency is, pretty much, half way through it’s recovery.
Ethereum Classic is starting to show very bold signs that it could be subject to another surge. $20.00 may seem a while off but, given the current trend, the market is likely to help Ethereum Classic over that mark. If it breaches the mark and stays above that mark, a full recovery up to $40.00 could be on the cards. Yes, it may be a while away, but the possibility is there.