Last week the strong interest of financial companies saw a + 10% increase in ETCs. This is surprising given that the cynics doubted that he would survive after his infamous pitchfork.
Until the recent encryption was sold out, the altcoins had a week of earnings. ETC has driven many of the top 20 coins with price increases. Because? He saw a series of important announcements by large financial institutions.
However, skeptics will say that ETC has been the subject of pumps and landfills in the past. But this does not seem to be the case this time. Interest is assured by at least two finance companies this month. This promises to expose Ethereum Classic to both consumers and institutional investors.
The first positive news came on August 28th. Kingdom Trust announced that they were launching an assured custody platform of Lloyds of London. It would respond to a few cryptographic resources. One of the crypto coins on the list was Ethereum Classic.
Next was Balance, August 30th. The Canadian company announced that they were launching an encryption platform. It would represent security of military rank. The housing will offer a secure offline storage solution and digital asset management solution. The main objective is institutional investors. As deposit banks, family offices and hedge funds. It would support eight cryptographic coins and ETC was one of them.
Both of these developments highlight how ETC is still within the crypto community. Not surprisingly, last week saw a 10% increase. This gain pushed its price to $ 14; before going down again to $ 11.25 after the market lost profits on the back of soured Bitcoin news.
Ethereum Classic's trading volume is also helping earnings. At $ 214.19 million, this is very high compared to many other altcoins that are on the market today.
It remains to be seen how these developments will have an impact on the long-term price of the ETC. As we have learned, its difficult predictive encryption markets. But what we are sure of is that ETC is very much alive and present on the radar of financial companies, trading platforms and those interested in the general objective of Ethereum.
It is still too early to make any forecasts on ETC prices. But it seems like things are coming together for the platform.
Basil has three years of freelance experience in writing disruptive technologies. It focuses on latest news and pieces of education; helping to spread the Gospel of Blockchain. He hopes to have his blockchain company one day; help the world through its innovative log technology