Ethereum Classic Hits Market Cap of $3.74 Billion (ETC)

Ethereum Classic (ETC) traded down 0.8% against the dollar during the 24-hour period ending at 13:00 PM E.T. on September 23rd. Over the last week, Ethereum Classic has traded down 23.3% against the dollar. One Ethereum Classic coin can now be bought for about $27.80 or 0.00147658 BTC on popular cryptocurrency exchanges. Ethereum Classic has a market capitalization of $3.74 billion and $708.59 million worth of Ethereum Classic was traded on exchanges in the last 24 hours.

Here’s how other cryptocurrencies have performed over the last 24 hours:

  • Bitcoin (BTC) traded 1.8% higher against the dollar and now trades at $18,827.24 or 1.00000000 BTC.
  • Dogecoin (DOGE) traded up 1.9% against the dollar and now trades at $0.0618 or 0.00000328 BTC.
  • UNUS SED LEO (LEO) traded 13.2% higher against the dollar and now trades at $4.11 or 0.00021868 BTC.
  • Litecoin (LTC) traded up 1.3% against the dollar and now trades at $53.46 or 0.00283950 BTC.
  • Monero (XMR) traded 1.8% higher against the dollar and now trades at $139.66 or 0.00741798 BTC.
  • Bitcoin Cash (BCH) traded flat against the dollar and now trades at $114.08 or 0.00605931 BTC.
  • Bitcoin Cash (BCH) traded 1% higher against the dollar and now trades at $113.97 or 0.00606121 BTC.
  • COUTION LIVE (CTL) traded down 4.7% against the dollar and now trades at $0.20 or 0.00000981 BTC.
  • DEI (DEI) traded down 1.4% against the dollar and now trades at $0.18 or 0.00000969 BTC.
  • Pax Dollar (USDP) traded 0.1% higher against the dollar and now trades at $1.00 or 0.00005311 BTC.

Ethereum Classic Profile

Ethereum Classic (ETC) is a proof-of-work (PoW) coin that uses the EtcHash hashing algorithm. It was first traded on July 23rd, 2016. Ethereum Classic’s total supply is 134,564,227 coins. Ethereum Classic’s official Twitter account is @eth_classic and its Facebook page is accessible here. The official message board for Ethereum Classic is forum.ethereumclassic.org. The Reddit community for Ethereum Classic is /r/EthereumClassic and the currency’s Github account can be viewed here. Ethereum Classic’s official website is www.ethereumclassic.org.

According to CryptoCompare, “Ethereum Classic is an attempt at keeping the Ethereum blockchain unaltered by the part of the community that opposed the hard fork and the return of The DAO funds. It started trading on Poloniex and is getting more and more traction.The Ethereum Classic mission statement is:”We believe in decentralized, censorship-resistant, permissionless blockchains. We believe in the original vision of Ethereum as a world computer you can't shut down, running irreversible smart contracts. We believe in a strong separation of concerns, where system forks are only possible in order to correct actual platform bugs, not to bail out failed contracts and special interests. We believe in censorship-resistant platform that can be actually trusted – by anyone.”Our block explorer data: total coins supply, total network hash rate, last block number and total difficulty are freely provided by https://gastracker.io/In 2017, the Die Hard fork was implemented in ETC, removing the Ethereum difficulty bomb. Currently, there are no plans to move to Proof of Stake like Ethereum, although developers at the IOHK institute are developing a new PoS protocol for Ethereum Classic.Ethereum Classic has undergone a network upgrade code-named Magneto. Magneto is inclusive of the Ethereum Berlin upgrade which contains a series of EIPs optimizing gas and transactions which have implied security enhancements important for the network.After a series of 51% attacks on the Ethereum Classic network in 2020, a change to the underlying Ethash mining algorithm was considered by the community to prevent being a minority proof-of-work chain in the Ethash mining algorithm where Ethereum is dominating the hashrate. This modified Ethash is also referred to as EtcHash or Thanos upgrade.Etchash is a heavyweight PoW algorithm used by Ethereum Classic. It uses the DAG file that is loaded into GPU memory at the moment of miner launch. An epoch change takes place every 60000 blocks and leads to an increase in size of the DAG file by 8 MB.”

Buying and Selling Ethereum Classic

It is usually not presently possible to purchase alternative cryptocurrencies such as Ethereum Classic directly using U.S. dollars. Investors seeking to trade Ethereum Classic should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Gemini, GDAX or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase Ethereum Classic using one of the exchanges listed above.

Receive News & Updates for Ethereum Classic Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for Ethereum Classic and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.