[ad_1]
Chart for ETC / USD (4H)
Since the cryptocurrency market was falling apart, there were some cryptocurrencies that stood out from the stable currencies. One of these cryptocurrencies was Ethereum Classic (ETC) and the other was ZCash (ZEC). Both of these currencies appeal to a similar demographic and both have fallen significantly in value during the bear market. However, there is much more. Both these cryptocurrencies have been around for a long time, but they have not been able to meet in the same way as the rest of the market. This means that for the main bagholders of Ethereum Classic (ETC) and ZCash (ZEC) who are waiting for the two cryptocurrencies to reach their true potential, it is too big a deal to fail.
Ethereum Classic (ETC) is one of the few blockchain in this market that has not only a loyal but also very well informed community. That said, a loyal community does not mean anything if the project is not going anywhere. The recent 51% attack on Ethereum Classic (ETC) was a serious failure of some of the teams that support Ethereum Classic (ETC). Maybe if the ETC Dev team was still around, it may not be successful. Current teams that support Ethereum Classic (ETC) including ETC Labs are focused on seeing Ethereum Classic (ETC) get more adoption, but so far their efforts to push for such adoption are not adequate. That said, Ethereum Classic (ETC) is the kind of blockchain that could succeed in becoming an important player in the IOT (Internet of Things) sector. This is why ETC Labs focuses on getting more Dapp developers on board to create innovative applications on the Ethereum Classic (ETC) blockchain.
Chart for ETCUSDShorts (1D)
With ETC Dev out of the field, we keep the principles and morals aside and talk about the future of this cryptocurrency. The only reason why DFG detected this blockchain is because they believed they could do something better with it. They were not so naive as to have ignored that Ethereum Classic (ETC) could very well be subject to a 51% attack under current conditions, considering that it was almost 93% of Nicehashable. So, could Ethereum Classic (ETC) be successful as a blockchain? We do not know yet, we do not know what plans DFG, DCG or IOHK have for Ethereum Classic (ETC) and if they succeed. The reaction of some of the prominent Ethereum Classic (ETC) characters to the attack was alarming and lacked the confidence that investors were looking for.
Even after the attack, there does not seem to be an effective coordination to move towards solutions. However, Ethereum Classic (ETC) has become too big to fail for some of these supporters. Even if they have no intention of extracting anything from the blockchain, they are still going to protect their investments and defend themselves against massive declines. If ETC Labs manages to drive Ethereum Classic (ETC) in the direction they are headed for, there is no doubt that Ethereum Classic (ETC) could become a serious competitor to Ethereum (ETH) in the future. This means that those who bought Ethereum Classic (ETC) today, thinking that cryptocurrency has just begun and has room for great growth, could win big results. The number of short films is about to witness a massive decline that will alleviate more than two years of sales pressure on cryptocurrency. Could it be a whale ploy just to collect cheap ETCs before future developments? We do not know, but at this point, considering the risk premium of ETC / USD, it is a sensible investment to make despite short-term shutdown beats.
Source link
