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It is evident that the momentum of today's cryptocurrency market may not necessarily give the desired results of the people. Most of the major markets remain in red, mainly because they are based primarily on the momentum of Bitcoin. L & # 39; One exception in the top 20 right now is Ethereum Classic. This altcoin it is increasing both in USD and BTC, which is quite interesting to keep an eye on.
The classic price of Ethereum at the $ 5 level
Similar to most of the altcoins, it has been a very brutal year for Ethereum Classic in the price department. Despite having hit $ 36 at some point, the currency has fallen below $ 5 in recent weeks. Now it seems that the trend is reversing the route even if slightly, since the price of $ 5 has been exceeded in the last hours. The main goal now is to ensure that this gain remains active and potentially increases even more in the process.
In the last 24 hours, there has been a noticeable increase in value of 2.5% in USD for the price of Ethereum Classic. It is this gain that allows the altcoin to exceed $ 5 again. At the same time, this gain in USD would not even be possible if ETC had not regained some losses in the BTC department. This current upward trend of 7.5% in that department is the most important statistic to keep an eye on moving forward. If this gain remains in place, things can become very interesting going forward.
On social media, there seems to be a real positive buzz around Ethereum Classic right now. For once, it also seems to be less on price, and more on the progress of the ecosystem as a whole. A new introduction to the Emerald SDK has been released today. Efforts like these can attract many more blockchain developers on ETC, rather than on Ethereum itself. A friendly competition in this respect is always advantageous.
ICYMI: The #EmeraldSDK it encapsulates all the essential tools and functionalities of Emerald in a single interface, without worrying about the configuration of the instruments.#BUIDL over it $ ETC today!
Introduction to the Emerald SDK – by @stevanlohja#EthereumClassic #ClassicIsCominghttps://t.co/RMWhT1Ts24
– Ethereum Classic (@eth_classic) 3 December 2018
A similar sentiment is echoed by Socialstriker. Rather than simply looking at the price of Ethereum Classic, it is essential to see the big picture. The network offers efficient transfers of value and can be a rather effective means of exchange also in an IoT-oriented optics. There are numerous options waiting to be explored in this department, although with sufficient external developers, real progress can not be made.
@ETC enables highly efficient value transfers, focuses on IoT applications and runs a mathematically verified Ethereum virtual machine. This means this #ETC it is great in what it proposes to do: to be a highly efficient means of exchange that connects the devices of the world.
– socialstriker (@socialstriker) 3 December 2018
As usually happens when the rises increase in value in blue, arbitrage opportunities will become evident. In the case of Ethereum Classic, there is a chance of succulent loops arbitrage to exploit. Considering that a potential profit of up to 75% can be compensated in rapid succession, options like these must be embraced first of all with open arms.
Hurry! 75.48% arbitrage loop in #OKEx through #Huobi.
If you buy #ETC in the BTC market by OKEx and convert it into AST in Huobi and sell it #OKEx.– KoinKnight (@KoinKnight) 3 December 2018
Considering that most of the major cryptocurrencies continue to struggle in the first place, it is very likely that there will be further pressure on the USD aspect of the price of Ethereum Classic. In the BTC department, the current gains will have to be sustained or even expanded to maintain this value of $ 5. It will be a rather interesting day in this regard, even if the potential outcome remains unclear at this time.
Disclaimer: this is not about trading or investment advice. The article above is for entertainment and training purposes only. Please do your own research before buying or investing in any cryptocurrency.
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