Today's Hot Topics
Coin Market Cap

Ethereum Classic (ETC) Is The New Institutional Favorite After Bitcoin (BTC) And EOS (EOS)

Ethereum Classic (ETC) Is The New Institutional Favorite After Bitcoin (BTC) And EOS (EOS)
Analytics / Bitcoin / Breaking News / Cryptocoins / EOS / Ethereum Classic
Ethereum Classic Chart With Values Ethereum Classic (ETC) and Bitcoin (BTC) are often compared for their similarities in terms of immutability, decentralization, and limited supply. The total number of Bitcoin (BTC) that will ever be mined is 21,000,000. The total number of Ethereum Classic (ETC) that will ever be mined is 210,000,000 according to Ethereum Classic’s Monetary Policy. This means that both of these assets are likely to appreciate in value over time as mining difficulty increases and the number of coins that remain to be mined decreases. The demand will naturally rise as the supply decreases while the coins are mined. As a blockchain project with a solid tech, team and product that ranks #1 in terms of algo score and as a cryptocurrency with a limited supply, Ethereum Classic (ETC) seems to be the new institutional favorite after Bitcoin (BTC) and EOS (EOS). While institutional investors with limited knowledge of cryptocurrencies might feel safer investing in Bitcoin (BTC), those willing to take a little more risk to diversify their portfolio and invest in undervalued projects, Ethereum Classic (ETC) might be the best bet. Ethereum Classic Chart With Values Ethereum Classic (ETC) combines the benefits of being an underpriced asset as well as being a blue chip (top 20) cryptocurrency. In other words, Ethereum Classic (ETC) offers the most reward for the lowest risk. The cryptocurrency is also known for its ability to do well in bad times or in the event of a flash crash. This is natural to expect when you compare it to its forked version, Ethereum (ETH) which is over 36 times larger than Ethereum Classic (ETC) without having any significant technological edge or a specified total coin supply. This goes on to vindicate the fact that Ethereum Classic (ETC) is massively undervalued and why institutional investors are eager to invest in it. Ethereum Classic (ETC) is also actively finding its way on traditional markets. Recently, the Ethereum Classic Investment Trust (ETCG) was launched by Grayscale Investments after being approved by FINRA for a public quotation: OTCQX: ETCG. It currently trades at a price of $58.70 whereas ETC trades around $15. This difference shows the rising institutional interest in Ethereum Classic (ETC) and also shows the price traditional investors are willing to pay to guarantee a safe investment in this cryptocurrency without having to worry about the risks of holding the actual ETC coins. Another factor that traditional investors want to safeguard against is manipulation. When an asset is being pulled down despite it being a brilliant project and being massively undervalued only to go up soon afterwards, that is manipulation. As the chart for ETC/USD above shows, an attempt was made to push Ethereum Classic (ETC) off the cliff by dragging the price below the bullish channel, however, the price climbed back into the bullish channel. The price is currently again out of the bullish channel but it is very likely that this has to do with the recent Ethereum (ETH) flash crash which took a toll on the whole market as most cryptocurrencies are either traded against Bitcoin (BTC) or Ethereum (ETH) on most exchanges. Ethereum Classic Chart With Values Currently, Ethereum Classic (ETC) is trading in a falling wedge against Ethereum (ETH). It is likely that Ethereum Classic (ETC) will break out of this falling wedge towards new highs at the same time at which it rises against Bitcoin (BTC) to complete its cycle for the year. Recently, Mike Novogratz and Bloomberg partnered up to launch the Bloomberg Galaxy Crypto Index (BGCI) which is an index of ten cryptocurrencies that will help investors to better understand market trends. Ethereum Classic (ETC) was listed as one of those ten coins. Ethereum Classic (ETC) is also rumored to be added to Coinbase this year which could be the final push it needs to position itself as the original Ethereum.

You can share this post!

Markets Take Upswing This Afternoon

Looking For A New Place To Invest Your Ripple XRP? Try The Property Ladder