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Ethereum Classic (ETC) is running on the protocol similar to that of Ethereum (ETH), but ETC presents some differences with respect to ETH. Both differ in their philosophy (eg ideology) but somehow it is possible that both these digital resources belong to the same ecosystem. Both currencies broke after the DAO attack, in which hackers almost stole $ 50 million in currency. But the question remains that; Will Ethereum (ETH) negative effect Ethereum Classic (ETC)? Just like BTC has an effect on BCH.
Well, at the moment the market is still falling and even Ethereum Classic (ETC) is facing the bear trend. But apart from the market, we have seen that the legacy of Bitcoin and Ethereum has almost begun to fade because of the technologies introduced and supplied by XRP (XRP), Stellar (XLM), IOTA (MIOTA) and other famous altcoins. Bitcoin is still the leader, but the way he was hit by the bear market, we can surely assume that the future of Bitcoin is in doubt, because the cryptocurrency industry has expanded widely and assets like XRP and XLM are a real threat to the Bitcoin legacy (BTC).
Ethereum Classic (ETC) is still doing very different things to stay on the market, but is the "Ethereum" tag infested with ETC? Well, the market currently decides that. This is because Ethereum (ETH) has been hypothesized as one of the endangered crypts in the next year. So, this could affect ETC in the coming days, we can not wait for it. But part of this ETC has expanded its ecosystem and is trying to improve every single day. If in the future ETC moves away from this Ethereum tag and becomes high, then it would be a great victory for Classic. ETC still has the opportunity to prove itself in the market, which it does not have and this makes ETC look like a completely different story from ETH.
Also, Ethereum (ETH) has been quiet for a while and has not brought anything big in the market. Considering that, Ethereum Classic (ETC) is one of the most recent resources in the Coinbase listings, which is a good sign for ETC, but has not grown much since the announcement of the Coinbase listing. The sour market may be one of the reasons, but moving forward with this list is a good sign for ETC and will help the currency to stabilize itself on the market with great certainty. Examining the current circumstances Coinbase provided fresh Ethereum Classic (ETC) air in this serious market condition. Although the currency is falling but the list of Coinbase in the near future will support ETC, helping it to stabilize.
Another important thing for Ethereum Classic that they have recently explained is the sidechain Gravity (GRAV) and Orbita. These sidechains will further explore the ETC ecosystem and help Ethereum Classic grow its adoption. The Ethereum Classic team still has a lot of work to do before ETC becomes a resource with favorable use cases, which will make the ETC network completely reconcilable with IoT. If this were to happen soon, this would increase the entire Ethereum Classic (ETC) system.
At the time of writing this article, the market position is not good enough and is similar to how it has been in the last two weeks. Currently, Ethereum Classic (ETC) is down -9% and has fallen to -30% in the last seven days. It trades around $ 5.25 and has a market capitalization of $ 558 million. Well, we can only wait for the market to stabilize and I hope that 2019 will bring good things for ETC and for the market.
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