Ethereum Classic has a litany of supporters … and opponents. There are few platforms of intelligent contracts in function that have been so ridiculed by some and so stubbornly supported by others. This leads to some interesting conversations when considering the future value of Ethereum Classic.
So what do we think? If you buy Ethereum Classic today, will you be able to sell it for later? Let's take a look at some of the fundamental traits of Ethereum Classic, so let's try to determine how it positions itself for future success in today's market.
The Argument For Ethereum Classic
Crypto exchange Coinbase has just added support for Ethereum Classic. This is the biggest news that ETC has benefited at any time recently. Coinbase is a solid basis for any currency listed on it. Until recently, only Bitcoin, Bitcoin Cash, Litecoin and Ethereum were on Coinbase. And all of these remained very relevant in the crypto universe.
Coinbase is still the first place a new investor in cryptocurrency will probably buy coins. It is an important initiative for America and a growing number of other markets. Coinbase has made significant investments to expand operations and services in recent months to ensure it is at the center of the industry for some time to come. Ethereum Classic benefits immensely from the association with the Coinbase brand.
The list of Coinbase could prove to be a point of reference for the developers of Ethereum Classic. More technologies, Dapps and smart contracts are built on the Ethereum Classic blockchain, plus they claim that ETC has an intrinsic value. Currently, the development on Ethereum Classic is modest, but growing. If this activity persists, and a large rally for scrambled prices will occur everywhere, the prices of Ethereum Classic would surely be brought to new levels.
At the beginning of January of this year, ETC was trading at around $ 45. Today we are much closer to $ 9. At the very least, a significant market recovery would probably see the ETC equaling the previous highs. The new development (and the list of Coinbase) that has occurred in the meantime could see ETCs exceed the previous highs, and perhaps even exceed $ 100 in value. A lot must be good for this price action to be discounted, but it is not outside the realm of the possible.
The discussion against Ethereum Classic
Of course, the prices of Ethereum Classic may not go to the moon. The reasons for this are many. Ethereum Classic is just a platform of intelligent contract among many. This field has become much more crowded in recent months. EOS, NEO, Stellar Lumens, ICON, IOTA, Cardano – all these platforms are witnessing an intense development by extremely talented people. The list of Coinbase will not be enough on its own; Ethereum Classic must outperform these competitors if it wants to see long-term success.
The biggest competition of Ethereum Classic, of course, is the Ethereum itself. Much of what is good in Ethereum Classic comes from the code it takes from its mother blockchain. Moreover, Ethereum Classic is faster and cheaper to use than Ethereum in particular because it is not as popular. Ethereum is constantly pushed to the limit and no other blockchain has ongoing development activities. In a world where Ethereum achieves its goals and roars in a new race to the market, Ethereum Classic could be left in the dust.
Is now a good time to buy Ethereum Classic?
Only you can determine which possibility seems more realistic. But, in all probability, there are more options on the table, and the fate of Ethereum Classic will not be sealed for a long time to come anyway. In the meantime, there will be many fluctuations in value that the active trader can exploit. If you believe in the history of Ethereum Classic, for short, medium or long term, you may be able to get big profits from owning it.
The choice depends on you. At the very least, Ethereum Classic is a promising smart contract blockchain, one particularly advantaged by its inclusion in major trading platforms. Ethereum Classic will surely benefit from any changes at the sector level that will lead to new gains in space. It may even have enough interest and activity to begin to stand out in new ways, in the midst of this crowded cryptic industry. So if ETC is headed for $ 1000 or $ 0, we will pay close attention and perhaps we should do it too.
(* The information contained in this article should not be considered as investment advice.)