Ethereum Classic Spikes 17%, Leaves Bitcoin, Ethereum Trailing: What's Going On?
Ethereum Classic (CRYPTO: ETC) shot up nearly 17.3% to $31.67 over 24 hours leading up to early Thursday morning.
ETC rose alongside other major coins as the global cryptocurrency market cap rose 5.1% to $1.8 trillion.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | 17.3% |
| 24-hour against Bitcoin (CRYPTO: BTC) | 12.5% |
| 24-hour against Ethereum (CRYPTO: ETH) | 11.6% |
| 7-day | 2.4% |
| 30-day | -32.1% |
|
YTD-performance |
11.6% |
See Also: Best USDC Interest Rates
The Ethereum Classic Factors
- ETC was seen trending on Stocktwits at press time, suggesting popularity with retail investors.
- The 24-hour ETC trading volume rose 95.7% to $696.57 million, according to data from CoinMarketCap.
- Coinglass data showed that $2.82 million worth of ETC futures were liquidated in the preceding 24 hours as the coin spiked.
- Ethereum Classic hashrate declined 3.32% to 24.902 Thash/s, according to data from BitInforCharts.com.
Cheaper Ethereum Play
Ethereum Classic, which inherited the original Ethereum blockchain after a hard fork in 2016, has been known to spike in tandem with Ethereum as it is seen as a cheaper play. At press time, Ethereum was up 5.1% over 24 hours.
ETC Domain Buzz
HebeSwap, a decentralized exchange on ETC, said that a large number of Ethereum Classic domains have been claimed.
The third day of the month and a large number of #ETC domains have been claimed already. Get your own #HENS name on the #EthereumClassic blockchain before it is claimed.
HENS https://t.co/tZ6d987CJJ#ETCArmy $ETC $HEBE pic.twitter.com/p35CUOT2pJ
— HebeSwap (@BlockHebe) May 3, 2022
USDT On ETC
In a separate tweet, HebeSwap said that its developers are building a bridge from BSC-BUSD to ETC-USDT.
Our developers are building a bridge from #BSC-BUSD to #ETC-USDT. That means that soon you eill be able to have #USDT on ETC.😃 It should be noted that this is the online exchange bridge of #HEBE team and not real-time.#EthereumClassic #ETCArmy $ETC $HEBE pic.twitter.com/QZZs66GVDV
— HebeSwap (@BlockHebe) May 4, 2022
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Photo: Courtesy of ETC on Flickr
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