Bitcoin investor Lark Davis has called Cardano, Polkadot, Ethereum Classic, and Arbitrum the most overvalued cryptocurrencies in the top 100 coins list. Despite carrying multi billion dollar valuations, these projects still show weak network activity and low revenue.
According to Davis, these networks have good technology in some cases, but their ecosystems have failed to generate enough demand to justify their market caps.
Top Four Altcoins That Are OvervaluedAccording to Davis, these networks have good technology in some cases, but their ecosystems have failed to generate enough demand to justify their market caps.
Cardano Still Struggles to Attract UsersCardano topped Davis’ list, as he pointed out that the network processes around 30,000 transactions per day, has only 10,000 daily active addresses, and generates roughly $2,000 in daily application revenue despite maintaining a market cap of around $6 billion.
Token Terminal data shows that Cardano aonly generate only $1.9 million in revenue fees, far behind networks like Solana and Tron, which generate more than $603 million and $581 million in weekly revenue, respectively.
Davis questioned why Cardano continues to carry such a large valuation if network usage remains relatively low. Meanwhile, ADA is trading near $0.162, still almost 95% below its all-time high.
Polkadot’s Token Model Faces CriticismDavis believes Polkadot’s biggest issue is not its technology but its token utility. He noted that Polkadot’s main chain records only around 2,400 daily active users, while its TVL remains close to $40 million.
By comparison, many competing Layer-1 and Layer-2 networks process significantly more users and lock billions of dollars in DeFi.
According to Davis, governance, staking, and coretime sales have failed to create enough real demand for the DOT token.
As of now, DOT currently trades around $0.838, down nearly 98.5% from its all-time high.
Ethereum Classic and Arbitrum Also Make the ListDavis also criticized Ethereum Classic, saying the blockchain has become a “ghost town.” Despite maintaining a market capitalization above $1.1 billion, Ethereum Classic has only around 1,300 daily active addresses, approximately $150,000 in TVL, and roughly $72,000 in on-chain stablecoins.
As of now, ETC trades near $6.97, almost 96% below its record high.
Lastly, Davis aimed for Arbitrum (ARB). While he acknowledged that Arbitrum has strong blockchain technology, he argued that the ARB token does not capture enough value because the revenue generated by Offchain Labs does not directly benefit token holders.
Although Arbitrum serves around 2.2 million monthly active users and generates nearly $570,000 in monthly revenue, Davis believes the governance token itself has very limited use. ARB currently trades near $0.0866, down more than 96% from its all-time high.
While Davis believes these projects remain heavily overvalued, supporters argue that market value is not based only on current activity.
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The renowned American magazine Forbes has made inconsistent statements regarding cryptocurrencies. In a report published last year, Forbes labeled 20 altcoins, including XRP, Cardano (ADA), Litecoin (LTC), and Ethereum Classic (ETC), as “zombies.”
However, he now includes some altcoins, which he describes as zombie tokens, among the top 10 cryptocurrencies to invest in.
According to Forbes’ latest updates, XRP has been included in their list of the top 10 cryptocurrencies to invest in, ranking fourth after Bitcoin, Ethereum, and BNB.
Forbes states that the list was compiled based on criteria such as real-world use, market capitalization, and trading volume, and only assets with a market capitalization exceeding $5 billion were included.
Accordingly, the list includes projects such as Solana, TRON, Hyperliquid, Rain, UNUS SED LEO, and Zcash (ZEC), in addition to Bitcoin, Ethereum BNB, and XRP.
Bitcoin tops the list with its status as digital gold, while Ethereum comes in second thanks to its power in smart contracts and decentralized applications.
Forbes highlighted XRP’s role in international payments as one of its greatest strengths, noting that Ripple has forged partnerships with financial institutions, providing XRP with a practical use case that sets it apart from many other cryptocurrencies.
Conversely, it was also noted that XRP has disadvantages. The first of these was concerns about centralization, while the other was the large XRP holdings of Ripple co-founder Chris Larsen.
“…Unlike Bitcoin and other cryptocurrencies obtained through mining, XRP tokens enter circulation the moment Ripple decides to sell coins. Therefore, there are concerns about the centralized structure controlling the XRP supply.”
Ripple co-founder Chris Larsen, with a net worth ranging from $1 to $7.6 billion, owns a significant portion of XRP.
2- There are concerns about centralization due to Ripple’s control over the XRP supply.
XRP, with a market capitalization of $67 billion, is currently trading at around $1.07.
*This is not investment advice.
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What defines the top crypto picks 2025? For some investors, it’s the reliability of a proven chain like Ethereum Classic ($ETC). For others, it’s the speed and scalability promised by platforms such as Avalanche ($AVAX). Builders may look to Chainlink ($LINK) for its oracle dominance, while visionaries inspired by decentralization and inclusivity might gravitate toward World Liberty Financial ($WLF). Each of these projects has strengths, communities, and market niches, but the one commanding the loudest attention right now is BlockchainFX ($BFX).
Unlike the others, BlockchainFX isn’t just carving out a niche; it’s attempting to rewrite the playbook entirely. As the first true crypto trading super app, it bridges DeFi and TradFi by providing seamless access to over 500 assets in one place. Already raising $7.24M+ from over 9,000 participants, the BlockchainFX presale is nearing completion, with early investors securing tokens at $0.023 before the price doubles to $0.05 at launch. Alongside established names like Ethereum Classic, Avalanche, Chainlink, and ambitious newcomers like World Liberty Financial, BlockchainFX stands out not just as a token but as a trading ecosystem designed to unify the markets.
1. BlockchainFX ($BFX): The First True Crypto Trading Super App Table of Contents
1. BlockchainFX ($BFX): The First True Crypto Trading Super AppFirst True Crypto Trading Super App – Trade 500+ Assets Seamlessly2. Ethereum Classic ($ETC): The Original Ethereum Chain That Preserves Immutability3. Avalanche ($AVAX): High-Speed Layer 1 Competing for DeFi and Enterprise Adoption4. Chainlink ($LINK): The Oracle Powering Smart Contracts With Real-World Data5. World Liberty Financial ($WLF): A Newcomer Aiming for Global Financial InclusivityTop Crypto Picks 2025 SummarisedFind Out More Information Here:Frequently Asked QuestionsCan BlockchainFX replace multiple trading apps?How do BlockchainFX staking rewards compare to DeFi protocols?What makes the BlockchainFX Visa card unique?What happens after the presale ends?Why do some believe BFX could reach $1? BlockchainFX is positioning itself as the world’s first crypto-native super app that merges DeFi and TradFi. It enables users to trade 500+ assets across crypto, stocks, ETFs, forex, commodities, futures, options, and bonds, all through a single, seamless interface. For investors, this isn’t just convenience; it’s a structural transformation. Instead of spreading capital across several platforms, users can act instantly when opportunities arise in fast-moving global markets.
The platform also delivers rewards that matter. Up to 70% of trading fees are redistributed daily to the community in both BFX and USDT, creating a steady stream of passive income. Unlike traditional staking programs that only return native tokens, BlockchainFX adds stability by paying in USDT alongside BFX. Accessibility is another cornerstone: the presale accepts ETH, BTC, BNB, SOL, USDT, and more, ensuring that investors across regions can easily participate.
Beyond trading, BlockchainFX emphasizes real-world adoption. Its upcoming global VISA card will allow users to spend rewards and tokens at millions of merchants worldwide. Presale buyers also receive Advanced NFT rewards, boosting the value of early participation. With $7.24M raised from 9,000+ participants, BlockchainFX has already proven strong demand and community confidence.
First True Crypto Trading Super App – Trade 500+ Assets Seamlessly One of BlockchainFX’s most powerful features is its ability to enable instant swaps across asset classes. Imagine selling meme coins during market turbulence, reallocating into gold or oil, and diversifying into ETFs, all in seconds, without leaving the platform. For active traders, this eliminates costly inefficiencies; for long-term investors, it ensures that portfolios remain optimized in real-time.
And the upside potential is striking. With a presale entry at $0.023 and a mapped launch price of $0.05, early buyers already secure a 117% return at listing. But the story doesn’t end there. Analysts and community sentiment suggest that $1 could be reached in the near term, representing more than a 40x opportunity from current presale pricing. Add the BLOCK30 bonus code, which gives investors 30% more tokens, and BlockchainFX cements itself as the most compelling option among the top crypto picks 2025.
2. Ethereum Classic ($ETC): The Original Ethereum Chain That Preserves Immutability Ethereum Classic holds its place as the original Ethereum blockchain, committed to the principle of immutability. It continues to support smart contracts and decentralized applications, appealing to developers and investors who prefer a consistent, unaltered framework. ETC benefits from its legacy and proof-of-work security, giving it a stable presence in the market.
However, Ethereum Classic’s adoption lags behind Ethereum itself. Developer activity is lower, and its ecosystem has not grown at the same pace as newer competitors. Still, ETC serves as a lower-cost alternative and a symbolic reminder of blockchain’s early ideals, which gives it a dedicated, if niche, community of supporters.
3. Avalanche ($AVAX): High-Speed Layer 1 Competing for DeFi and Enterprise Adoption Avalanche has earned attention for its speed and scalability. Its consensus mechanism enables near-instant finality with low transaction costs, making it highly attractive for DeFi platforms, NFT marketplaces, and enterprise applications. The network’s interoperability with Ethereum through the Avalanche Bridge further enhances its appeal.
Yet Avalanche operates in a crowded field, competing directly with Solana, Cardano, and other Layer 1 networks. While AVAX has established a loyal user base, its long-term outlook depends on whether it can sustain momentum and attract developers at scale. For investors, Avalanche represents a strong technical play, though not one with the multi-market integration that defines BlockchainFX.
4. Chainlink ($LINK): The Oracle Powering Smart Contracts With Real-World Data Chainlink stands as the leading decentralized oracle network, delivering secure off-chain data to smart contracts. It underpins much of the DeFi ecosystem, providing reliable feeds for prices, weather, and other real-world inputs. Without Chainlink, many decentralized applications would lack the essential data needed to operate effectively.
As the adoption of smart contracts accelerates, Chainlink’s importance will only increase. Its dominance in the oracle space provides LINK with long-term staying power. However, it remains a specialized project rather than a full-spectrum trading solution. BlockchainFX, by contrast, goes beyond infrastructure to deliver direct financial rewards and multi-asset trading access.
5. World Liberty Financial ($WLF): A Newcomer Aiming for Global Financial Inclusivity World Liberty Financial is an ambitious new entrant focused on financial inclusivity. Its goal is to extend blockchain-based financial tools to underserved regions, lowering barriers to access and empowering communities. By promoting decentralization and equality, WLF appeals to investors who want exposure to projects with a social impact mission.
However, as a young project, WLF carries significant risk. Its ability to deliver depends on adoption, partnerships, and effective scaling beyond crypto-native audiences. While it has promise, it’s still in its early stages. For investors seeking immediate traction, BlockchainFX offers a clearer roadmap with proven presale results.
Top Crypto Picks 2025 Summarised Ethereum Classic, Avalanche, Chainlink, and World Liberty Financial each provide unique contributions to the crypto ecosystem. They represent blockchain’s diversity, immutability, scalability, oracle reliability, and inclusivity. For investors, each may fit a different portfolio strategy, depending on appetite for risk and vision for the future.
But when viewed side by side, BlockchainFX ($BFX) delivers the strongest case. With $7.24M raised from over 9,000 participants, it combines a powerful trading platform, daily staking rewards, NFT incentives, and Visa card integration. At a $0.023 presale price with a launch set at $0.05, and credible potential to climb toward $1, BFX provides investors with both near-term upside and long-term growth. It is not just one of the top crypto picks for 2025; it may become the standard by which others are measured.
Join the BlockchainFX presale today at just $0.023 per token before the price doubles at launch. Use code BLOCK30 to get 30% more tokens, available only for a limited time.
Find Out More Information Here: Website: https://blockchainfx.com/
X: https://x.com/BlockchainFX.com
Telegram Chat: https://t.me/blockchainfx_chat
Frequently Asked Questions Can BlockchainFX replace multiple trading apps? Yes. It allows users to trade 500+ assets across crypto, forex, stocks, commodities, and more, all in one place.
How do BlockchainFX staking rewards compare to DeFi protocols? BlockchainFX redistributes up to 70% of fees daily in BFX and USDT, combining stability with upside.
What makes the BlockchainFX Visa card unique? It links directly to the BlockchainFX ecosystem, enabling users to spend rewards and tokens at any location where Visa is accepted.
What happens after the presale ends? Tokens remain claimable, and the roadmap includes exchange listings, Visa rollout, and governance features.
Why do some believe BFX could reach $1? Because of its rapid presale adoption, unified cross-asset platform, and clear demand for integrated crypto-traditional finance trading.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Ethereum Classic (ETC) price trades in green above $20 at the time of writing on Friday, breaking above the falling wedge pattern, signalling a potential bullish move ahead. The positive move is further supported by rising trading volume, increasing bullish bets, and higher Open Interest (OI), which induces growing investor interest in ETC. Adding to this, the technical analysis suggests further gains if ETC confirms a successful breakout from the falling wedge pattern.
On-chain and derivatives data show bullish biasEthereum Classic ecosystem’s trading volume (the aggregate trading volume generated by all exchange applications on the chain) rose from 78.39 million on Saturday to 228.72 million on Friday, the highest volume since mid-September, according to Santiment data. This volume rise indicates a surge in traders’ interest and liquidity in the ETC chain, boosting its bullish outlook.
ETC trading volume chart. Source: Santiment
On the derivatives side, Futures’ Open Interest (OI) in Ethereum Classic at exchanges currently reads $70.22 million, as of Friday, and has been consistently rising since early October. Rising OI represents new or additional money entering the market and new buying, which could fuel the current ETC price rally.
CoinGlass’s ETC long-to-short ratio stands at 1.04 on Friday, the highest level over a month. This ratio, above one, reflects bullish sentiment in the markets, as more traders are betting on the asset price to rise.
ETC long-to-short ratio chart. Source: Coinglass
Ethereum Classic Price Forecast: ETC breaking above the falling wedge patternEthereum Classic price is breaking above the falling wedge pattern (drawn by joining multiple highs and lows since early August) on Friday, trading above $20. A successful breakout of this formation favors the bulls.
If ETC breaks above this pattern and closes above the 200-day Exponential Moving Average (EMA) at $20.03, could extend the rally toward the daily resistance level at $21.38. A successful close above the latter would extend gains toward the September 13 high of $22.52.
The Relative Strength Index (RSI) read 54 on the daily chart, moving above the neutral level of 50, indicating bullish momentum gaining traction. The Moving Average Convergence Divergence (MACD) indicators also showed a bullish crossover last week, which remains in effect, supporting the bullish view.
ETC/USDT daily chart
However, if ETC fails to break above the upper trendline boundary of the falling wedge pattern and corrects, it could extend the decline toward the September 25 low of $17.56.
In a report published last year, the well-known American magazine Forbes described 20 altcoins as zombies, including XRP, Cardano (ADA), Litecoin (LTC) and Ethereum Classic (ETC).
Forbes claimed that these altcoins failed to meet traditional metrics of success, exhibiting minimal utility and user adoption.
XRP and Ripple Experienced Major Changes! Ripple and XRP topped Forbes' list of “zombie blockchain” projects despite having billion-dollar valuations in early 2024. Forbes claimed that Ripple and XRP had little real-world use.
However, Forbes has undergone a major shift. At this point, Forbes has significantly shifted its stance on XRP and Ripple.
Forbes recently called Ripple's transformation a “$180 billion reinvention” driven by acquisitions, regulatory clarity, and growing institutional interest in XRP.
“Ripple, a blockchain payments company that hasn't really done much business for a long time, is finally on its way to a legitimate, multi-billion dollar crypto empire after escaping an SEC lawsuit,” the report said.
According to Forbes, Ripple has now become part of the rapidly growing digital asset treasury trend, as several top companies have recently announced treasury plans for XRP.
The most notable of these companies was Evernorth, which aims to raise more than $1 billion in funding.
Forbes also noted that XRP has gained 366% in value over the past year, bringing its market capitalization to over $150 billion. It also noted that the renewed demand for XRP isn't solely due to speculation.
Forbes attributed the transformation of XRP and Ripple to regulatory clarity, institutional adoption, and a $125 million SEC settlement. It also described Ripple as a consolidated financial services conglomerate, rather than a struggling payment token issuer.
*This is not investment advice.
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Ethereum Classic (CRYPTO: ETC) is falling Tuesday afternoon, swept up in a market-wide crypto correction. Here’s what investors need to know.
$ETC is sinking Tuesday. See the full story here. The crypto-specific catalyst was Bitcoin (CRYPTO: BTC) sinking over 5% to $101,000, triggering a cascade of over $1 billion in liquidations. This directly impacted Ethereum (CRYPTO: ETH), which fell around 6% Tuesday afternoon following a near 8% drop Monday.
Ethereum Classic's decline is directly tied to this. As the original 2016 hard fork of Ethereum, Ethereum Classic’s price is highly correlated with it. When the market-leading Ethereum faces massive liquidations, the selling pressure and panic cascade to related, smaller-cap assets such as Ethereum Classic, which investors deem a riskier, higher-beta play on the same ecosystem.
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Ethereum Classic (ETC) has been volatile for a cryptocurrency based on immutable ledger history. Ali Martinez recently issued a modest long-term projection for ETC, predicting that the asset may go up to $5. ETC, currently trading in the mid-teens, is under significant scrutiny due to this prediction. Technical signs and the project’s fundamentals reveal the difficult truth behind this unfavorable projection.
Reality of the Technical Downtrend Martinez’s forecast, which is often based on cyclical analysis and historical data, calls for ETC to be trapped in a multi-year bearish move. Based on an accompanying chart analysis, the $5 mark is not an arbitrary figure, but a crucial misunderstanding of good firm, long-term support levels going back several cycles. The predicted move indicates that ETC’s relief rallies have flatly failed to form higher highs, which is characteristic of a deepening bear market structure
This is a very technical outlook, implying that the path of least resistance to ETC is down due to persistent selling pressure and a lack of new capital inflows to break out of its long-term resistance. If key support levels for the psychological support of the currency, such as those recently tested, fail, then a snowball effect could be quite rapid and cause the decline to reach the $5 target. For traders, this level is a massive historical opportunity zone, but to current holders it is a lengthy, prolonged period of repression.
Proof of Work and Essential Fundamentals Ethereum classic’s original position as the legacy proof of Work (PoW) smart contract platform is both its trademark and its failure. Following the successful ‘Merge’ by Ethereum to Proof-of-Stake (PoS), ETC became the residence of the PoW miners and purists who support the ‘Code Is Law’ philosophy. This conviction offers an intrinsic value, yet it has a difficult time competing with the ecosystem innovation visible on PoS chains.
ETC’s network and ecosystem growth is far behind its competitors. GaFin’s relationship with Undead Blocks to improve Web3 gaming via integrated rewards network shows how Web3 is quickly going into gaming and real-world assets. ETC does not produce engagement of developers and dApp deployments. The coin has a supply cap (210.7 million coins) and the reward will drop periodically in the blocks, but the coin lacks value except for speculative trading and PoW mining’s contribution to the coin; this causes it to be more sensitive to unfavorable market cycles.
Understanding the Broader Crypto Market Weakness The prevailing macro environment is the key element driving a significant drop in prices. The crypto market has been reliant on massive corrections all year. As of mid-November 2025, a large selloff of cryptocurrencies has caused more than $1 trillion to be wiped off the global market cap with Bitcoin and Ethereum continuing their sharp losses in the face of “extreme fear” sentiment.
Altcoins with limited utility or institutional support have the highest likelihood of falling during risk aversion. ETC is prone to market contagion due to its market structure and lack of liquidity compared to top-tier assets. As recently reported on the huge market losses this month, as investors rush to stable assets or run from loss, smaller cap tokens such as ETC face capitulation selling and a sub $10 price goal appear to be alarmingly realistic.
Conclusion The movement is unable to believe that Ethereum Classic will reach $5 again, but it is not hyperbole. This anticipated prognosis is based on both technical limitations, but also the most fundamental issues of having a pure PoW legacy chain in a rapidly evolving and PoS-dominated world. Long-term believers may consider $5 to be the holy grail of accumulation, but the journey to $5 is a difficult and painful one. Technical indicators are pointing to the abysmal future for ETC: the historical price floor may get reached.
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Cardano (ADA) is getting the “2020 blastoff” treatment again — at least if you ask Quantum Ascend, a technical analyst on X who says the chart is starting to rhyme with the setup that preceded ADA’s last major run.
In a Dec. 13 video shared on X, Quantum Ascend (@quantum_ascend) told followers he’s been working through a longer-term weekly count and thinks the market may be grinding toward the end of a drawn-out corrective structure. The punchline: a “conservative” target zone around $4.88–$5.50, and a “primary” bull-run target of $10.40.
“Cardano Mirroring 2020 Blastoff Moment,” his post read, before laying out the two tiers: “Conservative: $4.88-$5.50” and “Primary: $10.40.”
The Framework Behind The Cardano Price Prediction The framework he’s leaning on isn’t a clean five-wave impulse, he said. Instead, he framed it as something slower and messier — “more of like a large time-based macro correction here on the D-wave,” he said, describing what he believes is a triangle structure developing on the weekly chart.
Cardano price analysis | Source: X @quantum_ascend “We’re creating a triangle structure,” he said. “So I am going to be looking for the E-wave. That’s what ends up coming next.”
A big part of the argument is confluence. Quantum Ascend walked through multiple measurements and trendlines, pointing to price zones where different tools cluster. One reference point was a prior A-to-B drawdown range that, in his view, still hasn’t been fully “closed out,” with a key level “up there at the $5.50 mark.”
Then he zoomed out to the bigger structure, highlighting how an upper trendline from a C-to-D drawdown “converges with the 3.618 [Fibonacci extension] up here,” which he suggested adds weight to the $10 area. “So some confluence for that $10 area,” he said, pointing at the chart level he called out around $10.62.
He also reached for a relative-performance comparison — not to Ethereum itself, but to Ethereum Classic.
“I have another video from the past that compares Ethereum Classic to ADA,” he said. “And if it ends up doing a similar move to Ethereum Classic, that also puts us up into the $10 range.”
Still, the near-term “safe” target he kept circling back to was the $5 region. After walking through a more recent drawdown “going back to the top of the Trump pump to where we’re at now,” he said a “full extension gets us pretty close… around $4.88,” adding that the $5 zone shows “a lot of different signs of confluence.”
“For me, I’m going to say my conservative estimate for ADA is going to be that $5 range,” he said. Then he went straight to the headline number: “I think ADA gets up there around 10 bucks during this bull run.”
To make the comparison feel less abstract, Quantum Ascend argued the current chop looks structurally similar to a prior period before ADA’s last breakout — a fractal-style read. “You guys notice the similarities here?” he asked, describing how both moves get “stopped out a little bit above the 0.5,” roll over, then revisit the lower trendline before pushing back to the top of the range.
And then he widened the lens beyond Cardano, tossing in a fairly aggressive macro view that sits underneath the bullish alt targets. “I honestly, guys, across the board right now, I believe that these corrections are coming to an end,” he said. “I think we have a blow off top in stock markets, in crypto and all of that coming.”
But he also stressed he’s not married to a long-duration “supercycle” narrative. “I am not a long-term bull,” he said. “I am not [predicting a] Bitcoin super cycle to $400K.” His current bitcoin top, he added, is $155,000 — and he expects alts to “severely outperform” in the final leg before “it’s all over.”
On the math side, Quantum Ascend framed $10.40 as big, but not absurd in a market that has already produced outsized multiples. “If we were to get that 1040, 25X, right?” he said, comparing it to prior cycles where ADA saw moves he pegged at “168X” and “75X.”
“So we’re just talking about a 25er,” he added. “Not that crazy when you put it into perspective.”
At press time, ADA traded at $0.4022.
ADA trades below key resistance, 1-week chart | Source: ADAUSDT on TradingView.com Featured image created with DALL.E, chart from TradingView.com
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The crypto market is mainly red on the last day of the week, according to CoinStats.
ETC chart by CoinStatsETC/USDThe rate of Ethereum Classic (ETC) has risen by 3.15% over the last day.
Image by TradingViewOn the hourly chart, the price of ETC keeps looking bullish. If bulls' pressure continues and the daily bar closes near the resistance, the growth may continue to the $13 area.
Image by TradingViewOn the bigger time frame, the rate of ETC is also controlled by buyers. If the candle closes around the current prices or above, traders may witness a test of the $13-$13.50 range next week.
Image by TradingViewFrom the midterm point of view, the price of the altcoin has once again bounced off the support at $11.47.
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If the weekly bar closes far from that mark, there is a chance to see a local rise to the $13-$14 zone by the end of the month.
Ethereum Classic is trading at $12.84 at press time.
TLDR: Prosecutors identified £4,012.21 in Ethereum Classic cryptocurrency linked to drug trafficking. Craig Costello generated £1.6m in illegal profits from international cocaine distribution ring. Five-bedroom property sold and vehicles liquidated as part of proceeds of crime application. Confiscation order delayed due to ongoing divorce settlement over £107,722.80 property equity. Craig Costello, a convicted drug trafficker from Teesside, awaits the final seizure of his assets following his involvement in a global cocaine distribution network.
Prosecutors have identified £137,577 in available cash and assets for confiscation. The seizure includes cryptocurrency holdings, property proceeds, and bank deposits accumulated during his criminal activities between 2015 and 2016.
Criminal Operation and Conviction Costello operated alongside three business partners in managing the Teesside branch of an international drugs ring.
John Watson, Steven Beazley, and Dave Wright formed the local team under Stockton drugs baron Jon Moorby. The operation functioned under the direction of Merseyside gangster Lance Kennedy, who orchestrated approximately £17m in cocaine imports.
The criminal enterprise utilized chartered helicopters to transport class A drugs across the Channel. Couriers then moved the cocaine from Kent to Merseyside before distributing it across the north east.
Cleveland police conducted extensive surveillance operations to gather evidence against the group during the two-year period.
All four members received convictions for conspiracy to supply class A drugs in 2021. Costello fled to the Middle East before the jury delivered its verdict.
Authorities apprehended him in Amsterdam while driving and returned him to the UK. He subsequently served a nine-year-seven-month sentence at HMP Kirklevington before his release in August under the 40% scheme.
Asset Recovery and Financial Investigation Financial investigators determined Costello generated £1.6m in illegal profits through his trafficking activities.
The proceeds of crime application has identified specific transactions linked to drug sales. Prosecutors traced a £16,815 payment into his bank account alongside an additional £3,175 deposit.
Authorities discovered £4,012.21 worth of Ethereum Classic cryptocurrency registered in Costello’s name. Court documents confirm this digital currency originated from drug trafficking proceeds.
His five-bedroom property on Chesterfield Drive in Marton was sold while he remained incarcerated. Several quad bikes and vehicles were also confiscated and liquidated.
The final confiscation amount remains unsettled due to ongoing property settlement disputes. Victoria Costello initiated divorce proceedings after her husband’s imprisonment.
She claims entitlement to a portion of the house equity, totaling £107,722.80. The Crown Prosecution Service has suspended divorce proceedings until financial matters reach resolution.
Durham Crown Court will issue the confiscation order next year. Costello’s former associates paid back less than £300,000 from £4m in combined profits.
Ethereum Classic declined sharply over the past 24 hours, closing with a loss of nearly 9%. The drop reflects growing downside pressure, with market positioning skewed heavily in favor of bearish traders.
The recent cascade followed a noticeable contraction in liquidity.
Roughly 9% of liquidity exited the Ethereum Classic [ETC] perpetual market, leaving open interest at approximately $90.12 million. When weighed against Funding Rate data, the remaining capital appears largely aligned with short sellers.
At the time of writing, the Open Interest–Weighted Funding Rate has turned negative, printing -0.0282—one of its steepest negative readings since October 2025, a period that also coincided with a comparable price decline.
Source: CoinGlass A negative funding rate indicates that short traders are paying long traders, signaling dominant bearish sentiment and a willingness by shorts to maintain their positions.
Liquidation data further underscores this imbalance. Long positions have absorbed the bulk of recent liquidations, while short sellers remain comparatively insulated. This disparity highlights the strength of bearish conviction and suggests that price action currently tilts in favor of sellers.
Market structure sends mixed signals Despite the bearish derivatives backdrop, the price structure presents a more nuanced picture across timeframes.
On the daily chart, ETC trades within a descending channel, defined by diagonal resistance and support trendlines. While descending channels often carry bearish implications, they can also precede bullish breakouts if price closes decisively above the upper resistance boundary.
Source: TradingView At press time, the price hovered near the midpoint of the channel. A sustained move above the $9.94 resistance level would strengthen the case for a short-term recovery.
However, the broader monthly timeframe paints a more cautious outlook.
Over the long term, ETC continues to trend lower. The structure resembles a large consolidation pattern defined by horizontal support and descending resistance.
Typically, such formations resolve with a breakout near the confluence of support and resistance.
In this instance, price has already broken below key support and now approaches a lower structural level. A breakdown beneath this zone would push ETC to a new all-time low on its Binance monthly chart.
Conversely, if the lower support holds, a rebound scenario remains viable.
Source: TradingView Short-term bounce possible? Momentum indicators suggest the possibility of temporary relief.
The Moving Average Convergence Divergence (MACD) showed the blue MACD line trending upward toward the orange signal line. The histogram has also begun printing green bars with increasing intensity, signaling strengthening bullish momentum in the short term.
Similarly, the Aroon Indicator reflects improving upside pressure. The Aroon Up (orange) remains above the Aroon Down (blue), aligning with the constructive signals seen on the MACD.
If momentum continued to build, ETC could experience a short-term rebound in the coming sessions.
However, unless price reclaims and sustains levels above $9.94, the broader bearish structure remains intact.
Source: TradingView In summary, derivatives positioning heavily favors bears, and long-term structure still leans bearish.
While technical indicators point to the possibility of a near-term bounce, the broader trend suggests that investors should remain cautious, as downside risks have not yet fully dissipated.
Final Summary Ethereum Classic (ETC) dropped nearly 9% – as Open Interest fell to $90.12M, Funding Rate turned negative at -0.0282. A move above $9.94 may decide whether ETC stabilizes.
Ethereum Classic has joined the list of cryptocurrencies posting double-digit gains, pushing its price to about $9.03 at press time.
The asset’s renewed momentum has drawn fresh market attention and redirected capital allocation toward the altcoin. Broader market analysis suggests the upside trend may persist, although its continuation depends on whether investor demand and capital inflows remain strong.
For now, sentiment across several indicators suggests that traders remain optimistic as the rally unfolds.
Investor appetite strengthens Investor appetite for Ethereum Classic [ETC] has increased sharply, according to sentiment data from CoinMarketCap.
The indicator, which aggregates community votes to track whether traders are bullish or bearish, showed that 100% of roughly 4.3 million participants expected further upside for ETC.
Google search data also pointed to a gradual rise in public interest.
Source: CoinMarketCap Data from Google Trends showed that search interest for Ethereum Classic’s ticker has increased by 10 points, rising from 32 on the 15th of March, which marked the lowest level recorded this year.
Although the increase remained modest, sustained growth in search activity could translate into broader market attention. Higher visibility often precedes stronger capital allocation as more traders begin to track and participate in the asset’s movement.
Breakout places higher levels in focus AMBCrypto’s analysis suggested that the rally may still have room to extend if current momentum holds. Based on the chart structure ETC recently exited, an additional 11% to 30% price expansion remains possible.
The formation resembles a bullish consolidation pattern, where price trades within a tightening range defined by a horizontal support level and a descending resistance line.
Such structures typically reflect a period of accumulation before price breaks out and attempts to reclaim the start of the pattern.
Source: TradingView The distance between ETC’s current price and the beginning of that structure represents roughly 11% additional upside.
If the asset manages to clear the next resistance zone around $11.66, the rally could extend further, potentially reaching 30% above current levels, according to the chart projection.
However, failure to sustain the breakout could invalidate the move. In that scenario, ETC may return to the channel and resume trading within the previous range, especially if broader market sentiment weakens.
Indicators show strengthening momentum Several technical indicators also suggest that the market is preparing for further movement.
The Moving Average Convergence Divergence (MACD) indicator, which measures momentum shifts, shows strengthening bullish pressure through a series of rising histogram bars on the chart.
If the MACD line (blue) crosses decisively above the signal line (orange) in positive territory, it would confirm that momentum is accelerating and could support a stronger upward move.
Source: TradingView Meanwhile, the Money Flow Index (MFI), which tracks capital inflows and outflows, has continued to trend higher. The indicator, however, remains below the 50 threshold, a level typically used to confirm stronger buying pressure.
A break above this level would indicate that investors are increasing capital allocations into Ethereum Classic and could reinforce the asset’s ongoing rally.
For now, ETC’s upside momentum remains intact, but the sustainability of the move will depend largely on whether capital inflows and bullish sentiment continue to build.
Final Summary ETC jumps sharply as investor confidence strengthens across social platforms. Further upside now depends largely on sustained momentum and continued capital inflows.
Bullish ETC price prediction for 2026 is $10.11 to $14.68. Ethereum Classic (ETC) price might reach $70 soon. Bearish ETC price prediction for 2026 is $4.29. In this Ethereum Classic (ETC)price prediction 2026, 2027-2030, we will analyze the price patterns of ETC by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
TABLE OF CONTENTS
INTRODUCTION
Ethereum Classic (ETC) Current Market StatusWhat is Ethereum Classic (ETC)?Ethereum Classic (ETC) 24H TechnicalsETHEREUM CLASSIC (ETC) PRICE PREDICTION 2026
Ethereum Classic (ETC) Support and Resistance LevelsEthereum Classic (ETC) Price Prediction 2026 — RVOL, MA, and RSIEthereum Classic (ETC) Price Prediction 2026 — ADX, RVIComparison of ETC with BTC, ETHETHEREUM CLASSIC (ETC) PRICE PREDICTION 2027, 2028-2030CONCLUSIONFAQ Ethereum Classic (ETC) Current Market Status Current Price $7.53 24 – Hour Price Change 5.65% Up 24 – Hour Trading Volume $63.91M Market Cap $1.18B Circulating Supply 157.17M ETC All – Time High $176.16 (May 07, 2021) All – Time Low $0.4524 (On Jul 25, 2016) ETC Current Market Status (Source: CoinMarketCap) What is Ethereum Classic (ETC) TICKERETCBLOCKCHAINEthereum ClassicCATEGORYBlockchain-based distributed computing platformLAUNCHED ONJuly 2015UTILITIESGovernance, security, gas fees & rewards Ethereum Classic (ETC) is the native cryptocurrency that exists on the Ethereum Classic blockchain. Ethereum Classic is an open-source smart contracts-based platform that holds onto the original Ethereum blockchain. This sister chain of Ethereum was launched as a result of a controversial hard fork of Ethereum in July 2016.
Ethereum Classic secures its blockchain through the proof-of-work (PoW) consensus mechanism. It is merely the continuation of the pioneer Ethereum Chain. It allows developers and users to create dApps through lucrative smart contracts.
Ethereum Classic 24H Technicals Ethereum Classic (ETC) ranks 51st on CoinMarketCap in terms of its market capitalization. The overview of the Ethereum Classic price prediction for 2026 is explained below with a daily time frame.
ETC/USDT Ascending Triangle Pattern (Source: TradingView) In the above chart, Ethereum Classic (ETC) laid out a Ascending Triangle pattern. The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs, indicating a consistent level of resistance, and a lower trendline that connects the rising lows, reflecting increasing buying pressure.
As the price approaches the apex of the triangle, the tension between buyers and sellers intensifies. If the trend breaks out at the resistance level, the price will continue to move up in this ascending triangle pattern, often leading to further gains. Traders typically look for confirmation of the breakout, which can enhance the likelihood of a successful upward move.
At the time of analysis, the price of Ethereum Classic (ETC) was recorded at $7.53. If the pattern trend continues, then the price of ETC might reach the resistance levels of $7.86, and $9.52. If the trend reverses, then the price of ETC may fall to the support of $6.95 and $6.45.
Ethereum Classic (ETC) Resistance and Support Levels The chart given below elucidates the possible resistance and support levels of Ethereum Classic (ETC) in 2026.
ETC/USDT Resistance and Support Levels (Source: TradingView) From the above chart, we can analyze and identify the following as the resistance and support levels of Ethereum Classic (ETC) for 2026.
Ethereum Classic (ETC) Price Prediction 2026 — RVOL, MA, and RSI The technical analysis indicators, such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Ethereum Classic (ETC) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Ethereum Classic (ETC) market in 2026.
INDICATORPURPOSEREADINGINFERENCE50-Day Moving Average (50MA)Nature of the current trend by comparing the average price over 50 days50 MA = $8.31Price = $7.57
(50MA > Price)Bearish/DowntrendRelative Strength Index (RSI)Magnitude of price change;Analyzing oversold & overbought conditions47.91
<30 = Oversold
50-70 = Neutral>70 = OverboughtNearly OversoldRelative Volume (RVOL)Asset’s trading volume in relation to its recent average volumesBelow cutoff lineWeak Volume Ethereum Classic (ETC) Price Prediction 2026 — ADX, RVI In the below chart, we analyze the strength and volatility of Ethereum Classic (ETC) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Ethereum Classic (ETC).
INDICATORPURPOSEREADINGINFERENCEAverage Directional Index (ADX)Strength of the trend momentum28.65Strong trendRelative Volatility Index (RVI)Volatility over a specific period32.71<50 = Low
>50 = High
Low Volatility Comparison of ETC with BTC, ETH Let us now compare the price movements of Ethereum Classic (ETC) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs ETC Price Comparison (Source: TradingView) From the above chart, we can interpret that the price action of ETC is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ETC also increases or decreases, respectively.
Ethereum Classic (ETC) Price Prediction 2027, 2028 – 2030 With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Ethereum Classic (ETC) between 2027, 2028, 2029, and 2030.
Year Bullish Price Bearish PriceEthereum Classic (ETC) Price Prediction 2027$72$4Ethereum Classic (ETC) Price Prediction 2028$74$3Ethereum Classic (ETC) Price Prediction 2029$76$2Ethereum Classic (ETC) Price Prediction 2030$78$1 Conclusion If Ethereum Classic (ETC) establishes itself as a good investment in 2026, this year would be favorable to the cryptocurrency. In conclusion, the bullish Ethereum Classic (ETC) price prediction for 2026 is $14.68. Comparatively, the bearish Ethereum Classic (ETC) price prediction for 2026 is $4.29.
If there is a positive elevation in the market momentum and investors’ sentiment, then Ethereum Classic (ETC) might hit $70. Furthermore, with future upgrades and advancements in the Ethereum Classic ecosystem, ETC might surpass its current all-time high (ATH) of $176.16 and mark its new ATH.
FAQ 1. What is Ethereum Classic (ETC)? Ethereum Classic (ETC) is the native cryptocurrency of the Ethereum Classic blockchain. Ethereum Classic is an open-source smart contracts-based network that is built based on the original Ethereum blockchain.
2. Where can you buy Ethereum Classic (ETC)? Ethereum Classic (ETC) has been listed on many crypto exchanges which include Binance, OKEx and Huobi Global.
3. Will Ethereum Classic (ETC) record a new ATH soon? With the ongoing developments and upgrades within the Ethereum Classic platform, Ethereum Classic (ETC) has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of Ethereum Classic (ETC)? Ethereum Classic (ETC) hit its current all-time high (ATH) of $176.16 on May 07, 2021.
5. What is the lowest price of Ethereum Classic (ETC)? According to CoinMarketCap, ETC hit its all-time low (ATL) of $0.4524 on Jul 25, 2016.
6. Will Ethereum Classic (ETC) hit $70? If Ethereum Classic (ETC) becomes one of the active cryptocurrencies that majorly maintain a bullish trend, it might rally to hit $70 soon.
7. What will be the Ethereum Classic (ETC) price by 2027? Ethereum Classic (ETC) price might reach $72 by 2027.
8. What will be the Ethereum Classic (ETC) price by 2028? Ethereum Classic (ETC) price might reach $74 by 2028.
9. What will be the Ethereum Classic (ETC) price by 2029? Ethereum Classic (ETC) price might reach $76 by 2029.
10. What will be the Ethereum Classic (ETC) price by 2030? Ethereum Classic (ETC) price might reach $78 by 2030.
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Disclaimer: The opinion expressed in this article is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Quick Answer: Ethereum Classic (ETC) is trading near $8.27–$8.82 as of May 2026, ranking approximately #51 by global market cap. Analyst forecasts for 2026 range from $5.00 (Cryptopolitan bear case) to $34.10 (PricePrediction bull case), with DigitalCoinPrice’s base model placing year-end between $14.90 and $22.62. For 2030, projections span from $10.53 (Coinbase linear model) to $78 (Cryptopolitan bull). The key drivers are Bitcoin halving cycle effects, ETC’s positioning as a pure proof-of-work smart contract chain in an increasingly proof-of-stake ecosystem, and whether mining economics remain viable.
Key Takeaways:
ETC is trading ~95% below its November 2021 ATH of $176.16, near 10-year support levels seen last in July 2016 Proof-of-work positioning is a niche differentiator but also limits DeFi ecosystem growth vs Ethereum DigitalCoinPrice projects year-end 2026 between $14.90–$22.62; PricePrediction targets $26.46–$34.10 2030 base case consensus sits at $30–$57 across major platforms in moderate bull scenarios Analyst Ali Martinez issued a long-term bear case of $5 in November 2025; DigitalCoinPrice projects $34.55 by end of 2027 What Is Ethereum Classic (ETC)? Ethereum Classic is a proof-of-work blockchain and the original Ethereum chain, created in July 2016 following the controversial hard fork that divided the Ethereum community after the DAO hack. When the Ethereum Foundation chose to roll back the blockchain to refund $60 million stolen in the 2016 DAO exploit, a minority of developers and miners refused — arguing that “code is law” and that blockchains should be immutable. They continued the original, unmodified chain, calling it Ethereum Classic.
ETC shares Ethereum’s original codebase and supports smart contracts and decentralized applications. However, while Ethereum transitioned to proof-of-stake (PoS) in September 2022 (The Merge), Ethereum Classic has maintained proof-of-work (PoW) mining. This makes ETC one of the largest PoW smart contract platforms in existence — a niche positioning that attracts both Bitcoin-ideology miners and developers who prefer censorship-resistant, immutable infrastructure.
ETC has a capped supply of approximately 210.7 million coins — a deflationary model inspired by Bitcoin — with block rewards decreasing by 20% every 5 million blocks (roughly every 2.5 years). According to CoinMarketCap, ETC has a circulating supply of approximately 148.5 million tokens and a market capitalization near $1.3 billion as of May 2026.
How Does Ethereum Classic Compare to Similar Chains? ETC occupies a unique position: a PoW smart contract chain competing with PoS alternatives while maintaining philosophical alignment with Bitcoin-era values.
FeatureEthereum Classic (ETC)Ethereum (ETH)Litecoin (LTC)Bitcoin (BTC)ConsensusProof-of-WorkProof-of-StakeProof-of-WorkProof-of-WorkSmart contractsYesYesNoLimited (Ordinals)Capped supply~210.7MNo cap84M21MMarket cap~$1.3B~$290B~$8B~$2TDeFi ecosystemMinimalDominantMinimalGrowingBlock time~13 sec~12 sec~2.5 min~10 minOrigin2016 DAO fork201520112009 ETC’s advantage over Litecoin is smart contract support. Its disadvantage versus Ethereum is essentially everything else: smaller ecosystem, lower liquidity, far fewer developers, and no institutional DeFi adoption. Its ideological positioning as the “immutable Ethereum” has a loyal following but a limited addressable market.
Ethereum Classic (ETC) Price Today and Market Overview MetricValue (May 2026)Price~$8.27–$8.82Market Cap~$1.3B24h Volume~$40.6MCMC Rank~#51ATH$176.16 (Aug 2021)ATH Drop~95%Circulating Supply~148.5M ETCMax Supply~210.7M ETC As of May 28, 2026, ETC is trading near $8.27–$8.82, sitting below both its 50-day and 200-day moving averages. DigitalCoinPrice’s current data shows ETC trading down on 17 of the past 30 days, with an RSI near 52.85 (neutral territory). The Fear & Greed Index is at approximately 23 (Fear), reflecting broad altcoin market caution.
A technically significant note: in the first week of May 2026, ETC briefly touched $28.99 before correcting sharply to current levels — a drop below $23.34 that represented a level not seen since July 2016 on a closing basis. This illustrates ETC’s extreme volatility: a 3x swing within a single month is characteristic of the token’s thin liquidity relative to its market cap rank.
ETC’s January 2026 context was constructive: analysts forecast ETC could trade between $30 and $80 in 2026 based on crypto market recovery trends and ETC’s PoW positioning. The subsequent price decline to $8 range has reset those expectations significantly.
ETC Price History Snapshot YearKey Price Level2016Launch after DAO fork ~$2.08; dipped below $1Late 2017Surged above $40 during crypto bubble2018Crashed back below $52020Range $5–$13Aug 2021ATH of $176.162022Crashed to $15–$35 range2023–2024Range $15–$40Early 2025Rally to $25.28Aug 2025Surge to $25.52 (+24% in one session)Nov 2025Analyst bear case: $5 targetMay 2026 low~$8.27 (near July 2016 levels) ETC’s price history mirrors Bitcoin cycles closely but with greater volatility and lower floors. Its August 2021 ATH of $176.16 came during peak altcoin mania, driven partly by Ethereum’s own price surge and speculation about ETC inheriting ETH miners after The Merge. That thesis partially materialized — ETH miners did migrate to ETC post-Merge — but the resulting hash rate increase did not translate into sustained price appreciation.
ETC Price Prediction 2026 2026 forecasts for ETC span an extraordinary range, reflecting genuine uncertainty about whether the current price near $8 represents a floor or continued deterioration.
SourceLowHighNotesCoinbase (linear 5%)—$8.66Flat growth model; minimal assumptionsDigitalCoinPrice$7.02$22.62Monthly range; strong Dec rally possibleStealthEx$7.02$34.10Avg ~$15 in base; high end $34 requires bull marketPricePrediction$26.46$34.10Bull case; requires full altcoin recoveryCryptopolitan$5.00$30.00Avg $15; wide range based on macroAMBCrypto/CoinCodex$15.69$29.31Recovery rally scenario DigitalCoinPrice’s monthly model provides the most granular 2026 view: ETC could trade $7.02–$9.29 through April-May (consistent with current prices), recover toward $9.00–$9.42 by June, and potentially reach $14.90–$22.62 by December if broader crypto markets recover in H2. Coinbase’s linear 5% growth model ($8.66) represents the absolute floor scenario where nothing changes.
PricePrediction’s $26.46–$34.10 year-end 2026 range requires ETC to broadly recover toward 2025 levels — plausible if Bitcoin enters a sustained rally that lifts mid-cap PoW chains. Cryptopolitan’s bear case of $5.00 aligns with analyst Ali Martinez’s long-term warning, though this would imply a new all-time low below even ETC’s 2016 launch prices — an extreme scenario requiring catastrophic market conditions.
For planning purposes, the realistic 2026 range is $8–$22, with the $14–$22 zone achievable if macro conditions improve in H2.
ETC Price Prediction 2027 2027 sits in the typical 12–18 month post-halving altcoin rally window. If historical patterns repeat, this is when smaller PoW chains tend to see their strongest recoveries.
SourceLowHighCoinbase—$9.09DigitalCoinPrice—$34.55 (+182% from current)Cryptopolitan$30.00$50.00AMBCrypto—~$28.06Changelly—~$26.74 DigitalCoinPrice’s 2027 projection of $34.55 (a +182% gain from current prices) reflects a significant recovery scenario tied to halving cycle momentum. This would return ETC to early 2025 levels — a meaningful but not extraordinary outcome given ETC’s history of cycle-driven rallies. Cryptopolitan’s $30–$50 range is broadly consistent with this moderate bull case. Coinbase’s flat $9.09 represents the zero-catalyst scenario.
ETC Price Prediction 2028 2028 is the next Bitcoin halving year — ETC has historically seen its strongest gains in the 6–18 months following a Bitcoin halving.
SourceLowHighDigitalCoinPrice—~$45–$55 (est.)Cryptopolitan$43.00$78.00PricePrediction~$35~$55 Cryptopolitan’s $43–$78 range for 2028 treats ETC as a halving-cycle beneficiary, projecting recovery toward pre-ATH levels in the $40–$80 range. DigitalCoinPrice’s model similarly converges toward the $45–$55 zone for 2028 based on cyclical appreciation. For ETC to reach $50+ by 2028, Bitcoin would need to initiate a strong bull cycle in 2027 with capital rotating into mid-cap PoW assets.
ETC Price Prediction 2029 SourceLowHighCryptopolitan$55.00$90.00DigitalCoinPrice~$50~$80 2029 is typically the late-cycle continuation phase following the halving. Cryptopolitan’s $55–$90 range reflects a bull scenario where ETC has recaptured a significant portion of its 2021 peak during the halving cycle. DigitalCoinPrice’s model converges in a similar range. Reaching $90 would require ETC to approach its 2021–2022 trading range but remain well below its $176.16 ATH — a recovery but not a new peak.
ETC Price Prediction 2030 2030 is the most widely cited long-term horizon for ETC investors.
SourceLowHighCoinbase (5% model)—$10.53DigitalCoinPrice$215.10$215.10 (avg)Cryptopolitan$43.00$78.00StealthEx$26.13$39.20AMBCrypto—~$32.67Changelly (bear)~$8–$9— The 2030 range is extremely wide. Coinbase’s flat 5% growth model places ETC at $10.53 — barely above current prices. StealthEx and AMBCrypto cluster in the $26–$40 zone, consistent with gradual appreciation through two halving cycles. Cryptopolitan’s $43–$78 is the moderate bull scenario — ETC returning to 2022 trading levels. DigitalCoinPrice’s $215.10 average is the most aggressive and requires extraordinary adoption, treating ETC as a major PoW infrastructure chain by 2030.
A realistic 2030 range for planning purposes, weighing the most credible mid-tier forecasts, is $25–$78, with the lower end achievable through normal cycle appreciation and the upper end requiring a full market recovery plus ETC-specific adoption catalysts.
What Drives the Ethereum Classic (ETC) Price? Bitcoin halving cycles. ETC moves in strong correlation with Bitcoin. Its largest price spikes have all come during Bitcoin bull markets, and its deepest declines follow Bitcoin bear phases. The 2028 halving is the next major macro trigger. ETC historically amplifies Bitcoin’s percentage moves — both upward and downward.
Post-Merge miner migration. When Ethereum switched to proof-of-stake in September 2022, billions of dollars worth of GPU mining rigs needed somewhere to go. Many miners switched to Ethereum Classic, dramatically increasing ETC’s hash rate and network security. This improved security profile was a structural positive that the market underpriced at the time.
Proof-of-work narrative. In a crypto ecosystem increasingly dominated by proof-of-stake networks, ETC occupies a genuine niche as the only major PoW smart contract chain. If PoW experiences a philosophical or regulatory revival — driven by concerns about PoS centralization or validator concentration — ETC is the primary beneficiary among smart contract platforms.
Deflationary supply model. With a capped supply of ~210.7 million coins and declining block rewards, ETC shares Bitcoin’s deflationary economics. As mining rewards decrease over successive epochs, supply issuance falls — creating gradually tightening supply dynamics in bull markets.
Network security and 51% attack history. ETC suffered multiple 51% attacks between 2019 and 2020 when its hash rate was low. The post-Merge influx of mining hardware dramatically increased hash rate and reduced 51% attack risk — but the historical vulnerability remains a concern for institutional adoption and exchange support.
Developer activity. ETC’s developer activity is modest compared to Ethereum and most major Layer 1s. The ecosystem has a small but committed core development team. Limited new application development constrains organic demand growth beyond speculative trading and mining.
Is Ethereum Classic (ETC) a Good Investment? ETC at $8–$9 is trading near a decade-low price level in nominal terms — the same range as July 2016, just months after the DAO fork that created the chain. Whether this represents a floor or a warning depends heavily on one’s view of PoW smart contract chains in a PoS-dominated future.
The case for ETC: its supply model is deflationary, its network security improved significantly post-Merge, it has survived 10 years including multiple 51% attacks, and its Bitcoin correlation means it will benefit from any Bitcoin bull cycle. At a $1.3B market cap, even a partial recovery toward 2024 levels ($25–$40) represents a 3–5x gain.
The case against: as analyst Ali Martinez noted in November 2025, ETC’s technical indicators were pointing to further downside, with a $5 target identified as a possibility if support levels failed. The developer ecosystem is thin, DeFi TVL is negligible compared to Ethereum, and ETC’s ideological differentiation is most compelling to a niche audience rather than the mainstream crypto market.
For investors who believe in PoW’s long-term role and want smart contract exposure with Bitcoin-style supply economics, ETC at current levels offers speculative value. For investors who prioritize active ecosystems, DeFi depth, and developer activity, Ethereum itself and other more active chains present stronger fundamental cases.
Nothing in this article constitutes financial advice. Cryptocurrency investments carry substantial risk.
Where to Buy Ethereum Classic (ETC) Centralized exchanges (CEX):
Binance — ETC/USDT and ETC/BTC; highest global liquidity Coinbase — ETC/USD for US users; one of ETC’s primary listing venues Kraken — ETC/USD and ETC/EUR with strong regulatory compliance KuCoin — ETC/USDT with competitive fees Gate.io — ETC/USDT available globally OKX — ETC/USDT spot and margin trading Decentralized options: ETC is a standalone Layer 1 chain, not an ERC-20 token — DEX trading for ETC requires wrapped versions (WETC) on Ethereum-compatible platforms. For pure ETC spot trading, centralized exchanges are the practical venue.
Mining: ETC can be mined using GPU rigs (Ethash algorithm) — a unique acquisition method not available for most cryptocurrencies. Mining profitability varies with ETC price, network difficulty, and electricity costs.
Self-custody: ETC is supported by hardware wallets including Ledger and Trezor. Electrum Classic and the official Emerald Wallet are the most widely used software wallets for ETC self-custody.
Frequently Asked Questions What is the ETC price prediction? For 2026, forecasts range from $5.00 (Cryptopolitan bear case) to $34.10 (PricePrediction/StealthEx bull case). DigitalCoinPrice's base model targets $14.90–$22.62 by December 2026 if markets recover in H2. Coinbase's flat 5% model projects $8.66. The base case consensus is $8–$22 for 2026, with above-base scenarios requiring a Bitcoin-driven altcoin recovery.
How high can ETC go? In a moderate bull scenario by 2030, Cryptopolitan projects $43–$78. DigitalCoinPrice's model is more aggressive at $215 for 2030. StealthEx and AMBCrypto cluster in the $26–$40 range. Most models agree that ETC returning to its 2022–2024 trading range ($25–$50) is the realistic bull target through two halving cycles, representing a 3–6x from current prices.
Will ETC reach $100 again? ETC traded above $100 briefly in August 2021 ($176.16 ATH) but has never sustained that level. Reaching $100 from current prices would require approximately a 12x gain. Cryptopolitan's most aggressive 2030 scenario reaches $78 — below $100. Most models do not project ETC reclaiming $100 before 2032 at the earliest. A return to $100 requires extraordinary conditions: strong Bitcoin bull cycle, major PoW narrative shift, and increased DeFi adoption on ETC.
What is the Ethereum Classic price prediction for 2030? Forecasts for 2030 range from $10.53 (Coinbase flat model) to $215 (DigitalCoinPrice aggressive model). StealthEx estimates $26–$39. Cryptopolitan projects $43–$78. AMBCrypto targets ~$32. The most widely cited realistic range for 2030 planning is $25–$78, depending on two halving cycle outcomes and whether PoW smart contracts gain or lose market share relative to PoS alternatives.
What is the difference between Ethereum and Ethereum Classic? Ethereum Classic is the original Ethereum blockchain, maintained by those who refused the 2016 hard fork that reversed the DAO hack. Ethereum (ETH) is the forked version that rolled back the hack to refund stolen funds. Today, Ethereum uses proof-of-stake and has the world's largest smart contract ecosystem. Ethereum Classic uses proof-of-work, has a capped supply of ~210.7 million ETC, and maintains a smaller but ideologically committed community focused on immutability.
Is Ethereum Classic a good investment? ETC at ~$8 is near its lowest price since 2016 — both a potential long-term accumulation opportunity and a warning that the market assigns diminishing value to PoW smart contracts in a PoS-dominated ecosystem. Its case rests on Bitcoin cycle correlation, deflationary supply, and improved network security post-Merge. Its risks include thin developer activity, negligible DeFi ecosystem, and a narrow ideological appeal. It is a speculative position, not a portfolio anchor.ShareContentThe theoretical threat of quantum computers to Bitcoin’s cryptographic security now has a dollar figure: $469 billion. That’s the value of 6.04 million BTC, or 30.2% of the total issued supply, whose public keys are exposed on-chain today and could be exploited if a sufficiently powerful quantum compastedQuick Answer: AMP is currently trading near $0.000841, down roughly 99.3% from its June 2021 all-time high of $0.1208. Third-party forecasts for 2026 range widely — from $0.0009 on the bearish end (CoinCodex) to $0.0100 on the bullish end (PricePrediction.net) — with the base-case consensus sitting pasted
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
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June 26, 2023
Source: Jezael Melgoza/UnsplashThe crypto exchange Coinbase Japan has almost doubled the number of tokens it lists on its platform, taking the total of coins listed from six to 11 – a suggestion that Japanese exchanges could start significantly expanding the number of tokens they handle.
On Twitter, the exchange’s Japanese arm wrote that it had begun trading chainlink (LINK), enjin Coin (ENJ), OMG (OMG), ethereum classic (ETC), and basic attention token (BAT).
The firm launched its Japanese branch in August last year, listing an initial three tokens. It has since added another three. But the listing process is notoriously difficult in Japan. Until very recently, all token listing applications had to be approved by the self-regulatory Japan Virtual and Crypto Assets Exchange Association (JVCEA) – in a process that could often take several months to complete.
Source: CoinbaseEarlier this year, however, the JVCEA announced its intention to streamline the process and allow exchanges to cut corners, particularly in instances whereby an exchange wants to list a token that has already been listed on a domestic rival’s platform.
The regulatory Financial Services Agency says it wants to have the final say on listing policy changes, but looks to be begrudgingly following suit with the government’s relatively pro-crypto stance.
Japanese Exchanges Hope to List More TokensPrime Minister Fumio Kishida has spoken about Web3 in glowing terms, and has agreed to make a number of concessions to the domestic crypto sector. Japanese businesses working in the crypto space have claimed of over-regulation, while political opponents say that Japanese crypto talent and capital are both flowing overseas.
As such, exchanges have been taking advantage – and some are now rapidly expanding the number of coins they list. While at the start of the year, no exchange listed more than 20 tokens, some are on course to end the year with as many as 30 coins on their platforms.
Coinbase’s own entry into the Japanese market was a slow process. Japan’s crypto exchange scene is dominated by domestic startups like bitFlyer.
Source: CoinMarketCapLarger Japanese conglomerates’ crypto subsidiaries are also active on the scene, as are platforms that are run by local securities firms – such as Coincheck.
Source: CoinMarketCapBut Coinbase’s entry made headlines after the firm last year announced its launch in partnership with Mitsubishi UFJ Financial Group, one of the largest banks in the country.
You can’t really discuss the topic of cryptocurrency mining without getting into issues surrounding the concept of centralization. One of the greatest aspirations of cryptocurrency communities is to decentralize the monetary system and create “trustless” transactions.
While Bitcoin made a lot of headway towards a trustless currency, there are still concerns. The concentration of power among ASIC miners in a few locations make some people wonder if mining is becoming too centralized.
GPUs And Decentralization At present there are two leading forms of mining, as Crypto Briefing has previously explained. Bitcoin, Litecoin and other leading cryptocurrencies can be mined with ASICs, highly specialized devices which can only perform a specific algorithm. Monero, Zcoin and some other cryptocurrencies can only be mined by commercially-available GPUs and CPUs
GPUs are common and relatively inexpensive. A standard gaming PC has at least one GPU in it, sometimes two. These video cards, distributed all over the world, allow for a widespread and highly decentralized network.
ASICs on the other hand, are more specialized, very expensive, and much harder to find. Because they are expensive and harder to set up, ASIC networks tend to be centralized among the wealthier people who have the means to purchase them and set them up on a large scale.
Bitmain Versus Everybody Else It doesn’t just stop at individuals. Relatively few entities control the large mining pools which dominate the most popular Proof-of-Work coins, particularly Bitcoin. Bitmain, which manufactures the most popular ASICs (there are some competitors emerging on the scene) controls two of the largest Bitcoin mining pools, Antpool and BTC.com.
In fact, at one point in time, their pools controlled nearly 50% of Bitcoin hashrate, although their share has diminished over the past year.
But just because a pool is centralized, that does not necessarily mean that the miners within the pool are also centralized. If miners notice that their pool is acting maliciously, they can simply switch to another pool.
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Even a leading pool operator, like Bitmain, would still have to work in concert with a massive number of miners, which would cost much more than it would return. In an article examining Mining Centralization Scenarios, Jimmy Song points out the extreme costs of attempting to maintain such a large-scale attack.
But when a single manufacturer produces the most popular mining equipment, “back-doors” exploits become more likely. For example, Bitmain could surreptitiously install a “kill-switch” that would reduce block productivity on non-Bitmain pools. However, these back-door tricks would also run the risk of being discovered and decimating Bitmain’s balance sheet as miners switch to different equipment in the future.
So while large entities like Bitmain may be a centralizing force in Bitcoin and a number of other cryptocurrencies, free market dynamics tend toward decentralization, competition, and innovation. Due to competition and improving profitability, the distribution of ASIC mining pools is diversifying, trending away from the possibility of monopolization.
Electricity Costs Around The World There’s also a possibility of geographic centralization, as miners flourish in areas with the cheapest energy. This can be due to economic conditions or because of the availability of cheap sources such as hydro-electric dams.
In much of the United States, residential electricity rates range around the 13 cent per kilowatthour average, but can be as high as 20 cents in some regions and as low as nine cents in a few states. For larger mining operations, industrial rates are quite a bit cheaper, but it can still be pretty tough to compete against regions where electricity is much less expensive.
Because the cost of electricity is hugely important in figuring out the profitability of any PoW mining operation, high-capacity ASIC mining operations are drawn to locations where the electricity is cheap.
That’s why so much cryptocurrency mining is performed in China, where electricity is cheaper than almost anywhere else. Quebec is also attracting attention due to its surplus of hydro-electricity. This could be another weak point, as mining hashpower concentrates in certain regions.
Multi-million Dollar ASIC Farms Versus Multi-million Dollar GPU Farms But even if ASICs fell by the wayside, one could also set up a hugely expensive GPU farm. GPUs themselves do not negate the centralization problem, although they may reduce it due to their widespread availability and usage.
It would be considerably more difficult to gain control of a GPU network, simply because there are already so many GPUs distributed around the world. But if someone designed a new GPU that was highly powerful, efficient, and expensive, it could result in a similar problem.
Higher Hashrates Theoretically, the more decentralized a PoW network is, the more secure it should be, but it may sacrifice speed for safety. Miners are incentivized to increase their hashing power for more frequent block rewards, which also increases network security.
A high hashrate means that there is more competition among miners, making the network more expensive to mine. The higher the hashrate, the more expensive it is to to set up or rent the necessary hashing power to launch a 51% attack. At some point, it becomes so costly that it just isn’t worth attempting such an attack.
51% Attacks If any single entity or group of colluding entities manage to control 51% of a network, lots of bad things can happen. Most importantly, the 51% controlling entity can essentially double-spend the currency.
In a typical double-spend, attacker creates a public transaction that spends some currency, typically by moving it to an exchange. Meanwhile, they use their superior hashing power to create a secret, longer chain, which does not include that transaction, and broadcast it to the rest of the network. Since consensus defaults to the longer chain, they have effectively spent the same tokens twice.
Some lower hashrate PoW networks like Bitcoin Private and Bytecoin are susceptible to 51% attacks because it requires relatively little hashing power to take over these networks. Even bigger names like Bitcoin Cash and Ethereum Classic have fallen victim to such attacks.
ASICs can contribute to centralization if a few wealthy and powerful parties manage to gain more than 51% of a network’s hashrate. Bitmain and some of its affiliates control somewhere around 40% of all of the Bitcoin network’s hashing power. Of course, it would not be in Bitmain’s best interests to diminish the value of the Bitcoin network since they have so much invested in it. Yet, there is a degree of trust that is necessary because of the extent of their influence in the present conditions.
Still, it looks like ASICs are here to stay, with their collectively massive computational power ensuring the security of Bitcoin and a number of other PoW-based networks. In the next and final installment in this series on mining, we will take a closer look at the numbers involved in profitable mining and will conclude with an examination of the ongoing battle for greater decentralization.
This is Part 2 of a series on cryptocurrency mining. For Part 1, click here.
Disclosure: This article was edited by Darren Kleine. For more information on how we create and review content, see our Editorial Policy.
Blockchain is a decentralized, secure and very fast technology that is already making waves in the business world. The blockchain is beginning to run the world with numerous blockchain projects being developed and deployed on the internet. There are companies already trying to build on what other people developed. All of these blockchain developments are done in different programming languages, some of which are explained below.
1. JavaScript
This is a high-level programming language and more importantly, it is a weakly typed, dynamic, prototype-based and leading web technology in the world. This programming language is very popular, and there are already new frameworks being created for javascript, which can be used to develop codes.
Javascript is very easy and you only need to understand the basics to start to work on this language. It is mostly used in blockchain development in ethereum.js and web3.js which are used to connect the application frontend with smart contracts and ethereum networks. It is also used for node.js in the Hyperledger Fabric SDK which is the framework that many big companies use. Another blockchain you can use javascript for is the NEO.
2. C#
C# is an object-oriented, compiled and high-level programming language that was created for Microsoft late into the 90s/the early ‘00s. Numerous ivory research has shown that this language is similar to C++ or Java, and it is more difficult to learn this language than the Javascript language. Although, it is also not as complicated as some other languages such as Go.
There are a number of popular blockchain projects that the C# language is being used for. The most popular of such blockchain project is the NEO, something that’s popularly referred to as the Chinese rendition of Ethereum. Another popular blockchain project it is used for is IOTA, zero-fee transactions and highly scalable projects centered on IoT (Internet of Things).
3. C++
This is an object-oriented, high speed, strongly static and compiled programming language. This language has access to hardware and high-level efficiency. Even though it was developed back in the 70s and 80s, as an extension of the C language.
This language is quite complicated and is more difficult to learn than the C language, as some top writers have noted. And if you are a beginner or just learning to code, this language is not for you.
Interestingly, it has been used in many popular and important blockchain cryptocurrencies and projects such as Bitcoin, Bitcoin cash, Eos, Monero, QTUM, Stellar, Cpp-ethereum, Ripple, Litecoin, etc.
4. Python
Python is a dynamically typed and trendy high-level programming language that supports functional programming and is also object-oriented. This programming language is growing in popularity than before and is the ideal language to use in developing artificial intelligence and machine learning features.
Many big IT companies create frameworks and smart tools to support Python, and it’s often used to create chatbots.
This very easy and popular language has also been used for numerous projects in the blockchain. One of such examples is its implementation of Ethereum, known as pythereum. It can also be used to create smart contracts for Hyperledger as well as NEO contracts. Python also has its own implementation of steemit known as steempython.
5. Golang
This language called Go for short, is a compiled, statically typed programming language that was developed by employees from Google. The idea of Golang is to have a combination of the efficiency of a compiled language such as C++ and the ease of developing codes such as Python.
This language is quite complicated and developers at papersowl are of the opinion that it is very difficult to learn this language. However, most of the developers with this opinion are python and javascript developers. Developers on C++ will find it easier to learn Go.
There are a lot of blockchain projects that Go has been used for. One of such is the Go-Ethereum blockchain written in this language. Another one is Hyperledger Fabric which is the blockchain solution that big organizations opt for.
6. Solidity
Solidity is a statically typed and contact-oriented programming language developed by the developers of Ethereum. This language was created the main language for the development of the smart contract, and is, therefore, the ethereum’s smart contract primary language.
Solidity is like a smaller copy of javascript with little changes. It is therefore not very complicated. So if you’re a mid-level developer, it’ll take you just a few days to learn this language.
This language is used primarily in the development of Ethereum smart contracts.
7. Java
This programming language, developed by Sun Microsystems, is a strongly typed language, based on object and class. Java is an object-oriented language popularly used in many big companies.
The difficulty level of java can be compared to that of C#, which is quite complicated and harder to learn than python or javascript. But still, this programming language is still very popular and there are numerous custom papers to help if you are just learning to code. But it is difficult to tell which is easier, Java, C++ or Golang?
Java is also used very widely in the blockchain industry. It is popularly used in IOTA, P2P cryptocurrency and NEM platform also uses java. Other objects where java is being used in the blockchain are the IBM blockchain, NEO contract, Ethereum, Bitcoin J, Hyperledger’s contract.
8. Rust
Rust is a strongly typed and compiled programming language that has been sponsored by Mozilla since 2009. This language is very similar to the C++ programming language, so you really can’t say that it’s a language that can be learned easily. The entry level for this language is high as it has a very small community, so we can safely rate its difficulty as hard.
There are only very few blockchain projects using this programming language. Parity is one of the few. A secure and fast ethereum client written in Rust. The most popular blockchain project written in Rust is the Ethereum Classic, a cryptocurrency birthed after Ethereum was hacked. Exonum, a security-oriented blockchain framework is also written in Rust.
9. Ruby
Ruby was developed in Japan by Yukihiro Matsumoto in the 1990s. This programming language is purely object-oriented. In fact, everything is an object in Ruby apart from the blocks, and they also have their replacement in procs and lambda.
Ruby was developed to act as a buffer between the underlying computing machine and human programmers. The syntax of this programming language is similar to other languages like Java and C, so it’s easier to learn this language for C and Java programmers.
10. CX
CX gives pointers, propelled cuts and array, and it also possesses the simple error control highlights which makes it convenient to design any blockchain with it. It was assembled over Go initially, and this stops the frameworks of CX from performing discretionary codes, which is a problem associated with business programming.
This programming language was made for the blockchain development of Skycoin, with a capacity for it to work as an intermediary for digital contracts.
CX integrates with Open Graphics Library (OpenGL) and uses the capacity of the GPU proficiently.
11. Simplicity
This is a relatively new programming language birthed in late 2017. It was designed mainly for blockchain development and smart contracts. It helps to increase productivity by hiding low-level logical components.
This language is object-oriented, similar to C++, and it uses blockchain principles to prevent data changes and errors.
The developers are still working on expanding the capabilities of this language, the features are going to be finalized and it will be added to bitcoin. So, we expect that from mid-2020, Simplicity should have more applications.
Conclusion Blockchain technology which makes it possible for us to have cryptocurrency exchange is, without doubts, here to stay. Blockchain developments are getting better with languages such as simplicity being specifically to make blockchain development a smoother process.
Crypto wallet and trading platform Abra recently enabled access to 17 Altcoins.Abra which is led by Bill Barhydt added native support to 17 altcoins including Digibyte (DGB), Dogecoin (DOGE), Dash (DASH), Basic Attention Token (BAT), Neo (NEO), 0x (ZEX), OmiseGo (OMG), Qtum (QTUM), Vertcoin (VTC), Zcash (ZEC), Golem (GNT), Stratis (STRAT), Augur (REP), Ethereum Classic (ETC), TRON (TRX), Lisk (LSK) and Status (SNT).
In addition to Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) users will soon be able to deposit and withdraw an additional 17 Crypto assets.
Native withdrawals for the other cryptocurrencies will be turned on in the coming days.
— Abra (@AbraGlobal) May 8, 2019
Abra is a non-custodial wallet meaning the private keys will not be held by the company but within the user’s device instead. The firm has also previously announced that it will enable users to buy synthetic equivalents of stocks and ETFs using Bitcoin smart contracts.
Abra Partners with Plaid to connect to “Thousands of banks”Abra has partnered with San Francisco based Fintech firm Plaid to connect user accounts to thousands of US banks. App users had to use bank transfers to deposit into their wallets, but with the new feature, they will able to connect to their bank accounts directly in-app using their API.
Bill Barhydt, CEO of Abra said:
“The addition of these new liquidity enhancements in our app gives users more ways to move between crypto and fiat. We’re particularly excited about our partnership with Plaid, which brings thousands of additional financial institutions into the Abra ecosystem for US customers.”
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Shrikar Parashar Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.
Coinbase, Kraken and other cryptocurrency exchanges are taking positions on proof-of-work consensus and Bitcoin mining. Despite criticisms against proof-of-work, they argue there is little risk of centralization-induced attacks.
Proof-of-work is one of Bitcoin’s core features which allows to reach consensus and keep the blockchain secure. Miners are responsible for finalizing transactions and generating new Bitcoins. However, proof-of-work isn’t perfect – to its critics, it’s a system that results in centralization of power.
Though there are alternatives, proof-of-work is here to stay as far as Bitcoin, Litecoin, Monero and many other cryptocurrencies are concerned. Proof-of-work largely operates behind the scenes, but it can have far-reaching effects — which has led some exchanges to weigh in on the matter.
Coinbase Endorses ASIC Mining Coinbase has recently argued that proof-of-work networks can benefit from ASIC mining. This is a controversial claim — it’s widely held that ASICs bring about monopolized ownership because they are specially designed to mine certain coins. CPUs and GPUs, by contrast, are general purpose chips that are available to anyone who owns a computer.
However, Coinbase sees things differently. It argues that general purpose hardware is a greater threat to centralization. There are many GPUs and CPUs that are not being used for mining, and these could suddenly be harnessed to attack a mining network. ASIC devices, which are only useful for certain types of mining, can’t suddenly join a network en masse.
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Coinbase adds that Bitcoin Gold, Vertcoin, and Verge have fallen victim to 51% attacks despite attempts to become ASIC-resistant. The company suggests that coins should bring about decentralization in a different way — they should instead turn to ASIC-friendly algorithms that support affordable manufacturing and turn ASICs into a widespread commodity.
Coinbase concludes that ASIC mining is inevitable: “Participants have to ask themselves if the industry is going to be secured by hobbyists running old laptops,” it insists. “Every at-scale, professional industry utilizes specialized equipment — it is naive to think that cryptocurrency mining will or should be any different.”
Kraken Argues Mining Pools Are Secure Kraken has published its own in-depth report on mining mentioning centralizing effects of mining pools. At the time of its publishing in April, many people were concerned that a few major mining pools could coordinate a 51% attack due to their hashrate dominance. That fear has intermittently come and gone.
Kraken argues that there is little reason to fear such an attack. It believes that heavily invested miners cannot carry out an attack sustainably as the effects on market price would devalue any profits. “We believe there is a greater incentive for [pools] to conduct honest operations and uphold the value of the network,” Kraken says.
Citing rules of game theory, Kraken suggests that dishonesty is a poor strategy for miners: “Any deviation will certainly result in short-term cost with unpredictable compensation.” It also notes that pools don’t have guaranteed dominance —since users can switch between pools, new pools can form to deter collusion.
Other Exchanges Are Also Getting Involved Some exchanges have attempted to get involved in mining more directly. Huobi, for example, runs a mining pool that accounts for 6% of Bitcoin’s hashrate, while OkEX runs a much smaller pool. Though they are not very significant, their existence does indicate that exchanges are interested in taking on big, Bitmain-owned mining pools.
BitMEX, meanwhile, is trying to keep mining security in check. It runs Forkmonitor.io which scans Bitcoin and its forks in real time for unusual activity. BitMEX Research also covers various mining-related issues, some of which are quite obscure and gain very little coverage elsewhere.
Finally, Binance has courted controversy by overstepping boundaries. After it suffered an attack in May, Binance briefly considered incentivizing miners to undo the theft. Binance eventually refrained from pursuing that plan — while miners showed no interest in complying. However, the event did raise the question of whether mining is truly irreversible.
Why Exchanges Care About Proof-of-Work Exchanges typically have no direct influence over mining and proof-of-work. They can only suspend trading activity and block bad actors if an attack or vulnerability occurs. Coin developers are ultimately responsible for designing proof-of-work schemes that produce a decentralized, accessible, and secure mining network.
Instead, exchanges are concerned with mining because they adjust their services around each coin’s proof-of-work model. For example, Coinbase recently decided that it is safe to reduce its confirmation times for Bitcoin, Zcash, and Ethereum Classic. On the other hand, exchanges like Bittrex have delisted attack-prone coins entirely.
Some investors make decisions about which coins to invest in based on technical matters such as proof-of-work. Though exchanges are naturally concerned with market data, they often tend to keep investors informed about technical matters — a level of dedication to the public that often goes unnoticed.
Disclosure: This article was edited by Mike Dalton. For more information on how we create and review content, see our Editorial Policy.
As promised, the leading US crypto exchange Coinbase has dramatically increased the number of coins supported on its platform. The company just added Stellar (XLM), a few weeks after the long-rumored debut of XRP.
So which coins will land the coveted Coinbase listing next?
Back in December, Coinbase revealed it’s taking a hard look at 31 additional cryptocurrencies. The platform now supports Bitcoin, Ethereum, XRP, Litecoin, Bitcoin Cash, Stellar, Ethereum Classic, Zcash, 0x, Basic Attention Token and USD Coin.
That leaves 28 coins on Coinbase’s list of prospects.
Coinbase Pro, the company’s professional trading platform, already supports a handful of the coins on the list above: Civic, Dai, District0x, Golem, Loom, Decentraland and Zcash.
With all eyes fixed on Bitcoin’s valuation at the moment, the lesser-known assets with medium-range market caps were seen performing better than the large market cap assets.
According to Arcane Research, the best performing tokens over the past week has been outside the major altcoins with only Monero and Bitcoin SV making the cut from the major assets. Privacy coin Dash and Chainlink also registered impressive recoveries over the last few days, with Dash witnessing over 14.45 percent in the last 24 hours.
The Weiss Crypto’s Mid-Cap Crypto Index (WMC) (a measurement index covering the mid-range market cap on the basis of market performance) registered a sharp rise since the start of January. The index exhibited a growth of 1.05 percent for the collective market movement from the likes of Cardano, Monero, Dash, IOTA, and Ethereum Classic.
In comparison, Weiss Large-Cap Crypto (WLC) Index only pictured a 0.14 percent growth collectively as Bitcoin and Bitcoin Cash were responsible for the majority of the positive growth. Ethereum and Litecoin managed to exhibit positive returns as well.
However, the bearish side was rather dominant with other digital assets. According to the chart above, the Weiss Small Cap Crypto Index (WSC) recorded a drop of 0.44 percent over the same period. The likes of Verge, Ziliqa, and BitShares failed to take advantage of the surging market.
As a whole, the above data indicated that mid-level crypto assets were collectively outperforming in the market over the past week, whereas the likes of major assets such as Bitcoin, Ethereum and Litecoin were playing the game cautiously.
Ravencoin (RVN) and Ethereum Classic (ETC) were operated as a safe haven for miners seeking shelter from “The Merge” fallout. The event that completed Ethereum’s transition to Proof-of-Stake (PoS), “The Merge” locked out miners from the ecosystem.
Leading into the event, Ravencoin, Ethereum Classic, and other Proof-of-Work (PoW) cryptocurrencies were recording double-digit gains. The new participants onboarding the networks drove their hashrate to new highs, and their price followed as demand for PoW tokens followed.
However, as more miners flocked into these networks, it became more difficult to obtain rewards. In that sense, and with “The Merge” out of the way, miners might be seeking new alternatives to carry on with their operations and maximize their gains.
At the time of writing, Ravecoin and Ethereum Classic traded at $0.03 and $28, respectively. The cryptocurrencies record a 30% loss for RVN and a 22% loss for ETC over the past week. The tokens gave back a large portion of the gains obtained in previous weeks.
RVN’s price is trending to the downside on the 4-hour chart. Source: RVNUSDT Tradingview Ravencoin (RVN) And Ethereum Classic (ETC) Might Be Losing Market Share As the price of Ravencoin and Ethereum Classic trend to the downside, their hashrate trend lower which hinted at the current bearish price action. Miners that were prompting the value of these cryptocurrencies seem to be existing or diversifying their participation across multiple networks.
Data from CoinWars shows a decrease in the hashrate for Ethereum Classic and Ravencoin. The former has seen a steadier decline in hashrate since September 17th, two days after “The Merge”.
As seen below, ETC’s hashrate reached a high of 210 terahash/s (TH/s) and an all-time high of 220 TH/s before trending lower. Over the same period, ETC’s price recorded massive losses, as mentioned.
Ethereum Classic’s hashrate trends to the downside. Source: CoinWarz Ravencoin hashrate saw sideways movement after an aggressive push to the upside. The network saw an all-time high of 20 TH/s before starting a descend into its current levels at around 15 TH/s. Both cryptocurrencies might experience losses if their network’s hashrate sustains their current momentum.
Ravecoin hashrate moving sideways and trending to the downside over the past week. Source: CoinWarz Where Are Ravencoin And Ethereum Classic’s Hashrates Fleeing? As computer power leaves Ravencoin and other PoW cryptocurrencies, it must be finding new networks to increase the miners’ chances of obtaining rewards. Data from Coingecko indicates that a couple of PoW tokens have benefited from this crash in price and hashrate from RVN and ETC.
The best-performing token seems to be CLO from Callisto Network. This project has seen a surge in trading volume and hashrate that has supported a 30% rally over the past 7 days. In the coming months, traders might benefit from frontrunning these spikes and crashes in PoW tokens hashrate.
#CallistoNetwork is the most profitable #ETHASH coin on Whattomine ⛏
Network #hashrate and trading volumes are growing, don’t wait and start mining $CLO now!
P.S. ZPoW is coming, so make sure you aren’t late ?
In a pattern that has been rinsed and repeated countless times this year, crypto markets are crumbling as Bitcoin failed to hold support. The altcoins are still hopelessly tied to their big brother so any pain for it is magnified for them.
Over $20 Billion Exits Crypto Space Over the past 24 hours crypto markets have shrunk to their lowest levels for almost three months. As billions left the space total market capitalization plummeted to $245 billion. All gains since late May have now been wiped out and altcoins are in danger of returning to their crypto winter levels if the rout continues.
total market cap YTD – coinmarketcap.com According to Tradingview.com Bitcoin dominance is still at 71.5% despite a thousand dollar dump. This means that the altcoins have suffered greater losses today, many of them in double digit declines. Bitcoin’s intraday high to low marks a loss of around 9% however the pain is greater elsewhere on crypto markets.
Ethereum, which has seen prices eroding for the past two months, has capitulated below $170 in a 10 percent plunge overnight. A death cross on the four hour chart a few days ago is about to be repeated on the daily chart as the 50 day moving average drops closer to the 200 day MA. This is a major bearish indicator which signals continuation of the down trend.
Development work on the Ethereum network is still ongoing with six new upgrades planned in the Istanbul hard fork slated for mid-October. This has not prevented the bears dumping the asset in panic over big brother’s fall through support however.
There has been little love for XRP either as the Ripple token gets crushed back to a yearly low of $0.25. A lot of bad press and FUD has inspired little confidence in the world’s third largest crypto asset recently.
The rest are faring no better with double digit losses for Litecoin, Binance Coin, EOS, Monero, Cardano, Tron, Dash, Ethereum Classic, Tezos and Chainlink. There are only a handful of low cap altcoins surviving the purge today and they include Golem, SOLVE and HedgeTrade.
The mess has not been missed by industry observers with RT anchor, Max Keiser, commenting;
“#Bitcoin dominance climbs as alt-season fails to materialize and alts resume downward trek to oblivion. BCH and BSV have another 90% drop to go.”
#Bitcoin dominance climbs as alt-season fails to materialize and alts resume downward trek to oblivion. BCH and BSV have another 90% drop to go. pic.twitter.com/muSHYRh6H1
— Max Keiser (@maxkeiser) August 29, 2019
Time to Be Bullish on Altcoins? Some are clinging perilously onto hope however and see opportunity in the misfortune of many crypto assets. ‘WelsonTrader’ tweeted;
“Accumulating some alts within the next 24 hours, as I think we may see a bounce here! Bitcoin may also bounce at support around $9500-$9550! If we break below that, expect a blooody week!”
All eyes are on Bitcoin’s next move as the alts are bound to follow. At the moment it is also clinging perilously onto support around $9,450, but teetering on the edge of a deeper chasm.
Crypto markets pulling back sharply; Litecoin, EOS, Bitcoin Cash and SV getting smashed, Crypto.com gets fomo. Market Wrap As expected crypto markets are finally dumping as we end the week. Over $16 billion has been lost as markets fall from their 2019 high back to $170 billion or so. Bitcoin initiated the dump but so far has remained above key support levels. It is the altcoins that are bleeding today.
Bitcoin fell below $5,000 for the first time in a week and settled at $4,950 before recovering slightly. The failure to break resistance at $5,400 has sent BTC back down as it drops around 4% on the day. Many had predicted this pullback and foretell further losses back to major support at $4,600 where the 200 day moving average is.
Ethereum has fallen harder as expected with a drop of 5% back below $165 again. There was no push to $200 for ETH which is still rising and falling along with its big brother. The gap between it and XRP in third is now much larger though at almost $4 billion market cap.
The top ten is a sea of red during today’s Asian trading session. The altcoins are getting hammered, some by double digits. Litecoin is losing 9% today as it falls back to $77, EOS and Bitcoin Cash are not doing a great deal better with 24 hours loses of 6 – 7 percent. Stellar and Cardano have both dumped 5% as Tether moves back up the chart.
The top twenty is awash with equal pain as Bitcoin SV, Ontology and Maker dump ten percent a piece. Close behind is Tron, NEO and Ethereum Classic with losses of over 6% on the day.
FOMO: Crypto.com Crushing It Despite the massive market correction Crypto.com’s Chain is flying today with a 25% fomo pump to $0.093 (1860 satoshis). There does not appear to be much driving the fomo, the only recent news is that the company donated $500k to Binance charity. South Korean markets are dominating trade in CRO with Upbit taking 40% of the total volume.
TrueChain is also getting fomo today with a 20% pump and Lambda is the third altcoin in double digits at 17%. KuCoin Shares are still getting dumped with a further 11% lost today. ABBC Coin and Revain, the usual suspects, are also dumping 10% each following recent pumps.
Total market capitalization 24 hours. Coinmarketcap.com Total crypto market capitalization has lost 5.5% in 24 hours falling from around $180 to just below $170 billion. Markets reached a new 2019 high on Thursday with a brief surge to $186 billion but since then $16 billion has been wiped out. This could be a short term pullback or the beginning of a final capitulation that so many analysts have been talking about.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Crypto markets pulling back; Bitcoin dominance rising, BNB and Cardano falling, BAT getting attention. Market Wrap Crypto markets have held gains largely thanks to Bitcoin’s rally yesterday. Total market capitalization remains over $180 billion at the time of writing as BTC eats into the altcoins while its dominance climbs to the highest levels this year.
Bitcoin surged through $5,600 yesterday and spent most of the past 24 hours above it. It has started to pull back now though in early Asian trading and was sitting around $5,550 this morning. Volume is currently at a weekly high of $16 billion and momentum has remained with BTC which has increased its total market share. Analysts are expecting a pullback but the correction should not be too severe;
$BTC Daily Chart.
There are multiple Fib clusters lined up at the 5850 area. Not to mention that it rejected at the 127.2 retrace today. IMO, getting close to a local top. Not saying to sell all out, but if me, I would reduce exposure and see what the correction looks like. pic.twitter.com/VP6ZpTIQUN
— CryptoFibonacci (@CryptoFib) April 24, 2019
Ethereum has dropped back to just below $170, it did not react with BTC this time and has remained pretty flat over the past week or so. ETH is falling back to last week’s levels as all gains get wiped out.
Altcoins have not rallied this time around and the top ten is all red today. The biggest two losers are Binance Coin and Cardano which have dumped 6 to 7 percent on the day. The rest have slumped 2 to 4 percent as traders move into Bitcoin or back into stablecoins.
There are only a couple of beacons of green in the top twenty at the time of writing. Monero and Tezos have made marginal gains but all those around them have fallen back. IOTA, Ethereum Classic and Ontology have dumped hard dropping over 6 percent each. The rest are losing 3 to 5 percent during early trading this Wednesday.
FOMO: BAT Back At It There are no major pumps going on in the top one hundred at the moment but the best performing altcoin is Basic Attention Token after a few days of declines. BAT is up 9 percent on the day to reach an intraday high of $0.45. Brave browser ads have gone live according to the Reddit which has driven momentum for BAT again.
Aurora and NULS are making around 8 percent today but there are no double digit gains as most altcoins are getting eaten by Bitcoin. The biggest loser today is yesterday’s fomo coin, DigixDAO dropping 17 percent. Digitex Futures and Revain are also getting dumped doubles today.
Total market cap 24 hours. Coinmarketcap.com Total market capitalization has corrected a little back to $181 billion. Most of yesterday’s gains have been lost by altcoins but Bitcoin is holding on to them at the moment. Market dominance has risen to a four month high of 54.2 percent as Bitcoin controls the markets at the moment.
Crypto markets sliding slowly; EOS, Cosmos ETC accelerating losses, BSV and Tron holding steady. Market Wrap The crypto correction appears to have slowed today but has not reversed and the short term trend is still downwards. Markets have settled a little following yesterday’s big dump but further losses could be imminent. Total market capitalization has now dropped below $250 billion.
Bitcoin has spent a large part of the past 24 hours hovering around $8,000 but could not hold that level. A slide last night dropped it back below $7,500 but BTC has since recovered marginally. Lower highs and lower lows indicate further losses however; Bitcoin is currently trading at $7,750.
Ethereum has weakened slightly and is now back below $245. Price has turned short term bearish and it is likely to mimic what Bitcoin does over the course of the day. Major ETH support lies at $240.
The top ten is still largely in the red for the third day this week. Losses have decelerated though and altcoins appear to be preparing for a bounce which may be short lived. EOS has dumped a further 6 percent dropping back to $6.20 while Litecoin hold steady above it in fifth. The rest have not moved much aside from Bitcoin SV which, adding another 4 percent, could be manipulated again.
Top twenty movements during Asian crypto trading today are larger, and mostly in a southerly direction. Ethereum Classic has dumped the most with 11 percent back to $8.18 while Cosmos is close behind dropping 8. NEO and Tezos continue their slide with another 6 percent lost each. Only Tron is making a little back today as 4 percent is added to TRX to reach $0.035.
FOMO: HedgeTrade Hedges In Something called HEDG has surged into the top one hundred with a 50 percent pump today however an obscure spike in price that instantly dumped is responsible. GXChain and Bytom are both going strong at the time of writing with 14 percent added each and Revain has been revived with a 13 percent gain on the day.
At the messy end of the tables Crypto.com Chain sliding back 12 percent. Ravencoin is also in a bad way this morning with an 8 percent dump.
Total market cap 24 hours. Total crypto market capitalization has declined for another day but only by 1.6 percent to $248 billion. Over the week a downtrend has started to form and losses could accelerate if Bitcoin and its brethren cannot hold their support levels. Daily volume is still a high $80 billion and BTC dominance has crept back up to 55.7 percent.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
