Ethereum Classic (ETC) and Bitcoin (BTC) are often compared for their similarities in terms of immutability, decentralization, and limited supply. The total number of Bitcoin (BTC) that will ever be mined is 21,000,000. The total number of Ethereum Classic (ETC) that will ever be mined is 210,000,000 according to Ethereum Classic’s Monetary Policy. This means that both of these assets are likely to appreciate in value over time as mining difficulty increases and the number of coins that remain to be mined decreases. The demand will naturally rise as the supply decreases while the coins are mined.
Ethereum Classic (ETC) combines the benefits of being an underpriced asset as well as being a blue chip (top 20) cryptocurrency. In other words, Ethereum Classic (ETC) offers the most reward for the lowest risk. The cryptocurrency is also known for its ability to do well in bad times or in the event of a flash crash. This is natural to expect when you compare it to its forked version, Ethereum (ETH) which is over 36 times larger than Ethereum Classic (ETC) without having any significant technological edge or a specified total coin supply. This goes on to vindicate the fact that Ethereum Classic (ETC) is massively undervalued and why institutional investors are eager to invest in it.
As a blockchain project with a solid tech, team and product that ranks #1 in terms of algo score and as a cryptocurrency with a limited supply, Ethereum Classic (ETC) seems to be the new institutional favorite after Bitcoin (BTC) and EOS (EOS). While institutional investors with limited knowledge of cryptocurrencies might feel safer investing in Bitcoin (BTC), those willing to take a little more risk to diversify their portfolio and invest in undervalued projects, Ethereum Classic (ETC) might be the best bet.
Ethereum Classic (ETC) is also actively finding its way on traditional markets. Recently, the Ethereum Classic Investment Trust (ETCG) was launched by Grayscale Investments after being approved by FINRA for a public quotation: OTCQX: ETCG. It currently trades at a price of $58.70 whereas ETC trades around $15. This difference shows the rising institutional interest in Ethereum Classic (ETC) and also shows the price traditional investors are willing to pay to guarantee a safe investment in this cryptocurrency without having to worry about the risks of holding the actual ETC coins. Another factor that traditional investors want to safeguard against is manipulation. When an asset is being pulled down despite it being a brilliant project and being massively undervalued only to go up soon afterwards, that is manipulation. As the chart for ETC/USD above shows, an attempt was made to push Ethereum Classic (ETC) off the cliff by dragging the price below the bullish channel, however, the price climbed back into the bullish channel. The price is currently again out of the bullish channel but it is very likely that this has to do with the recent Ethereum (ETH) flash crash which took a toll on the whole market as most cryptocurrencies are either traded against Bitcoin (BTC) or Ethereum (ETH) on most exchanges. As of now, Ethereum Classic (ETC) is up 6.14% and is moving back into the bullish channel.
Ethereum Classic (ETC) combines the benefits of being an underpriced asset as well as being a blue chip (top 20) cryptocurrency. In other words, Ethereum Classic (ETC) offers the most reward for the lowest risk. The cryptocurrency is also known for its ability to do well in bad times or in the event of a flash crash. This is natural to expect when you compare it to its forked version, Ethereum (ETH) which is over 36 times larger than Ethereum Classic (ETC) without having any significant technological edge or a specified total coin supply. This goes on to vindicate the fact that Ethereum Classic (ETC) is massively undervalued and why institutional investors are eager to invest in it.
As a blockchain project with a solid tech, team and product that ranks #1 in terms of algo score and as a cryptocurrency with a limited supply, Ethereum Classic (ETC) seems to be the new institutional favorite after Bitcoin (BTC) and EOS (EOS). While institutional investors with limited knowledge of cryptocurrencies might feel safer investing in Bitcoin (BTC), those willing to take a little more risk to diversify their portfolio and invest in undervalued projects, Ethereum Classic (ETC) might be the best bet.
Ethereum Classic (ETC) is also actively finding its way on traditional markets. Recently, the Ethereum Classic Investment Trust (ETCG) was launched by Grayscale Investments after being approved by FINRA for a public quotation: OTCQX: ETCG. It currently trades at a price of $58.70 whereas ETC trades around $15. This difference shows the rising institutional interest in Ethereum Classic (ETC) and also shows the price traditional investors are willing to pay to guarantee a safe investment in this cryptocurrency without having to worry about the risks of holding the actual ETC coins. Another factor that traditional investors want to safeguard against is manipulation. When an asset is being pulled down despite it being a brilliant project and being massively undervalued only to go up soon afterwards, that is manipulation. As the chart for ETC/USD above shows, an attempt was made to push Ethereum Classic (ETC) off the cliff by dragging the price below the bullish channel, however, the price climbed back into the bullish channel. The price is currently again out of the bullish channel but it is very likely that this has to do with the recent Ethereum (ETH) flash crash which took a toll on the whole market as most cryptocurrencies are either traded against Bitcoin (BTC) or Ethereum (ETH) on most exchanges. As of now, Ethereum Classic (ETC) is up 6.14% and is moving back into the bullish channel.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.