Ethereum Classic (ETC) Tops 1-Day Trading Volume of $49.66 Million

Ethereum Classic (ETC) traded up 10.3% against the US dollar during the 1 day period ending at 9:00 AM ET on August 20th. Over the last seven days, Ethereum Classic has traded up 7.5% against the US dollar. Ethereum Classic has a total market capitalization of $1.06 billion and approximately $49.66 million worth of Ethereum Classic was traded on exchanges in the last day. One Ethereum Classic coin can now be purchased for about $6.74 or 0.00009367 BTC on major exchanges.

Here is how related cryptocurrencies have performed over the last day:

• Arweave (AR) traded up 8% against the dollar and now trades at $1.91 or 0.00002666 BTC.
• Bitcoin (BTC) traded 10.8% higher against the dollar and now trades at $71,937.47 or 1.00000000 BTC.
• Dogecoin (DOGE) traded up 9.6% against the dollar and now trades at $0.0773 or 0.00000107 BTC.
• Zcash (ZEC) traded up 11.4% against the dollar and now trades at $570.39 or 0.00792894 BTC.
• UNUS SED LEO (LEO) traded 2.2% higher against the dollar and now trades at $9.26 or 0.00012874 BTC.
• Monero (XMR) traded up 0.8% against the dollar and now trades at $417.47 or 0.00580320 BTC.
• Bitcoin Cash (BCH) traded 5.9% higher against the dollar and now trades at $216.66 or 0.00301175 BTC.
• Litecoin (LTC) traded up 5.6% against the dollar and now trades at $47.41 or 0.00065900 BTC.
• NyanCoin (NYAN) traded down 2.2% against the dollar and now trades at $2.40 or 0.00008809 BTC.
• Bitcoin SV (BSV) traded 9.6% higher against the dollar and now trades at $15.84 or 0.00022025 BTC.

Ethereum Classic Coin Profile

Ethereum Classic (ETC) is a proof-of-work (PoW) coin that uses the EtcHash hashing algorithm. Its genesis date was July 30th, 2015. Ethereum Classic’s total supply is 210,700,000 coins and its circulating supply is 157,903,152 coins. Ethereum Classic’s official message board is ethereumclassic.org/news. Ethereum Classic’s official Twitter account is @eth_classic and its Facebook page is accessible here. The Reddit community for Ethereum Classic is https://reddit.com/r/ethereumclassic and the currency’s Github account can be viewed here. The official website for Ethereum Classic is 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. Telegram, Discord”

Buying and Selling Ethereum Classic

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

ETC/USD price chart by TradingView