Ethereum Classic ETC Price Dips Below $5.25: Analysis

The Ethereum Classic news lately have shown no upside momentum, even though the ETC token is stable and currently in a positive vibe. At the start of the year, ETC was trading at $4.51 per token, after which its price surged to $10.23 per coin, indicating a 100% surge in price. However, the situation around ETC is not that bright right now which is why we are listing the 3 things to know before investing in this coin.

3 Things To Know Before Buying Ethereum Classic (ETC) Today

As you probably know, ETC is a fork from the Ethereum (ETH) network which uses its initial blockchain – and a decentralized platform running smart contracts without the interference of any other third party. Below, we are listing the 3 things that are important to know about Ethereum Classic (ETC) right now.

Latest Developments On The Project

The first thing to look are the latest developments in the project. As we saw on March 16, the Ethereum Classic network conducted its second block reward reduction as per their monetary policy. This event took place when the network reached the block number 10,000,000. This is how ETC reduced its block reward by 20% and following the update, mining reward for ETC was slashed from 4 ETC to 3.2 ETC, respectively. This is all in line with the project’s monetary policy which signals that ETC is doing well.

Partnership With Chainlink (LINK)

Second in the 3 things to note about Ethereum Classic (ETC) this month is the network’s partnership with Chainlink (LINK) – one that may see decentralized oracles and external data migrated to the Ethereum Classic blockchain. The latest development will be beneficial to the ETC developers as the oracles can help migrating data into the smart contracts and executing actions on external networks following pre-set instructions.

Antminer E3 Stops Mining ETC

Last in the 3 things you should know about Ethereum Classic in today’s crypto news is the fact that the Antminer E3 (which is the first and only mining device on the ETHash algorithm ASIC) has stopped mining ETC. The event led to a rapid drop in the Ethereum Classic’s network hash rate. Currently, the price of Ethereum Classic (ETC) is at $4.94 without any change, stable after the recent fall and recovery on the markets.  

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