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Ethereum Classic ETC Still Trading Within Range Despite High Volatility And Recent Attack

24 january 2019, 22:17 by John Kiguru

Ethereum Classic ETC Still Trading Within Range Despite High Volatility And Recent Attack

Ethereum Classic has shown great maturity in recent days. Despite the Ethereum Classic blockchain being attacked and high price volatility, Ethereum Classic ETC has maintained steady prices.

At the time of press, Ethereum Classic is recording marginal changes which have been the trend for the larger market in the past 48 hours. Although the marginal change is in red, Ethereum Classic remains a fundamental project and the token, a favorite for most traders.

Part of the reason that has ensured price stability in recent days, is the announcement that Ethereum Classic was setting up a core development team. This team will be in charge of basic projects such as decentralization, blockchain services, and mining. This team is expected to be highly experienced and could be crucial in preventing future blockchain attacks.

The crypto community is positive that 2019 will be a great year for most projects but there might be an exception for this.

Arthur Hayes, BitMEX CEO, has recently stated that projects with small or weak blockchains and a low user base will find it hard to stay green in 2019.

For Ethereum Classic, despite the recent incidents, its blockchain project is strong and has been since it was created in 2016. Its user base has also been growing over the years. The recent attack has only seen the project stand stronger than before.

Ethereum Classic holds an all-time high of over $40 and with prices at the time of press standing at 4.25, shows how much potential and room for improvement the coin has. So far into the year 2019, the coin has set a year high of $5.50 and a low of $4.15. This price range is admirable given recent events and goes to show how mature and stable Ethereum Classic has become in recent months. In the short-term, the coin will likely continue to experience stalemate but a catalyst could easily instigate a rally and see it hit over $7.00.

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