Ethereum Classic (CRYPTO: ETC) inherited the original Ethereum (CRYPTO: ETH) blockchain after a hard fork in July 2016. The cryptocurrency has a market capitalization of $6.3 billion and is the 27th largest coin by that metric.
ETC has gained significantly since 2022 began. The coin has appreciated 34.6% since the year began while ETH has fallen 21.33% and Bitcoin (CRYPTO: BTC) has lost 11.4% of its value in the same period.
Even so, ETC is trading 73.6% lower than the all-time high of $176.16 it touched on May 6, 2021.
See Also: Ethereum Vs Ethereum Classic
The Investment: If an investor buys $100 worth of ETC today at the press-time price of $46.92, here’s how much they stand to gain should ETC regain its all-time high levels.
| March 23, 2022 | $100 | $46.92 | 2.131287298 | $375.45 | 275.45% |
As is apparent, a significant upside of 275.45% is possible from the current ETC price levels to all-time highs.
What’s Going On With Ethereum Classic? Exuberance surrounding mining is leading to the current spike in the coin. The project linked to ETC said earlier that it is “well-positioned” to absorb much of the abandoned Etash hash rate.
The comments come in the wake of Ethereum Foundation’s planned migration of the Ethereum Virtual Machine (EVM) to a proof-of-stake consensus.
ETC, sometimes perceived as a cheaper play, has gained in the past alongside the pricier ETH.
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