Ethereum Classic Rallies 5% After Barry Silbert's DCG Sees Dramatic Decline

Ethereum Classic (CRYPTO: ETC), is up 5% topping intraday gains, outpacing the movement seen on the second-largest cryptocurrency Ethereum (CRYPTO: ETH).

What Happened: At the time of writing, ETC was trading at $16.46. 

Santiment, a blockchain analysis firm, recently posted a tweet highlighting how coins within the Digital Currency Group owned by Barry Silbert have witnessed a sharp decrease in their values in recent days. The list of affected cryptocurrencies apart from ETC includes Flow (CRYPTO: FLOW), Mask Network (CRYPTO:MASK) and Filecoin (CRYPTO: FIL), among others.

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Coins in #DigitalCurrencyGroup, owned by #BarrySilbert, have plummeted hard in recent days. $ETC, $FLOW, $MASK, $FIL, $OCEAN, $YGG, $RSR , $DOT, $LPT, $MANA, $BAT, & $NEAR are all part of this group. Read our quick take! https://t.co/tUlvwSNl5I pic.twitter.com/ZYg9BT8OMP

— Santiment (@santimentfeed) December 20, 2022

As ETC recovers from its lowest point since July, the chart shows that the price has continued to move away from Monday's bottom of $14.74

The total 24-hour trading volume of ETC has also seen an uptick. Currently, the total market volume stands at $314.59 million, which is 67% more compared to Wednesday.

Price Action: At the time of writing, ETH was trading at $1,214, up 0.54% in the last 24 hours, according to Benzinga Pro.

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