Ethereum Classic (ETC) is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference. The success of Ethereum Classic has been largely due to the demand for its native ETC coins, which are used for transactions and settlement. Post Merge Ethereum Classic Price Discovery Begins When Ethereum split into Ethereum (ETH) and Ethereum Classic (ETC), some observers feared there would be a price suppression of ETC as ETH holders took their profits and dumped their ETC onto the market. However, this hasn’t been the case so far, with the ETC/BTC exchange rate hovering around $11.00 and the ETC/USD exchange rate trading at $17.50. This stability can likely be attributed to the fact that post-merge token distribution is still occurring, with a significant proportion of ETC in circulation. What does this mean for price discovery? The post-merge period will likely provide a more accurate snapshot of ETC demand than before the fork. This is because it will include holders of ETH, ETC who have exchanged their tokens, as well as new investors who have come.
Ethereum Classic (ETC) Post Merge Announcement
The Ethereum Classic (ETC) community is buzzing with anticipation of the post-merge announcement. Speculation and expectations run high as everyone waits to find out what changes will be implemented.
There has been much discussion on Reddit and other forums about the potential impacts of the post-merge announcement, but no one knows what will happen. Some people are concerned that the changes may lead to a split in the community, while others are hopeful that they will bring new growth opportunities.
Whatever the outcome, it’s clear that the Ethereum Classic community is excited about what lies ahead.
Ethereum Classic Price Discovery
With Ethereum Classic’s hard fork now behind us, the focus of the community turns to price discovery. Many eagerly await news on the market’s direction, given the variety of opinions and speculation about what will happen next.
Ethereum Classic is currently trading at $14.98 with a 24-hour volume of $436k. This puts it in 49th place among all cryptocurrencies, according to CoinMarketCap.
Some have predicted that Ethereum Classic will overtake Litecoin as the number two cryptocurrency, but this seems unlikely. Litecoin has been around longer and has a larger market cap, which gives it more credibility. Ethereum Classic also has some significant development roadmap goals that could give it an edge in the future.
Overall, price discovery appears to be proceeding slowly, with no clear consensus on where the market is headed. This provides plenty of opportunities for traders and investors to make informed decisions about their positions.
Effect of the Post Merge on ETC Price
After the successful Ethereum Classic hard fork on July 25th, 2017, the new Ethereum classic blockchain was created. This created a new ETC price and market demand.
Since the fork, there has been an increase in ETC prices as well as trading volume. This activity can be attributed to two main factors: first, the new Ethereum classic blockchain is more stable and secure than the original Ethereum blockchain, which has led to increased interest from investors; and secondly, due to the delayed Constantinople hard fork announcement, many investors are waiting for a better opportunity to invest in ETC.
Overall, the post-merge on Ethereum classic appears to affect its price and market demand positively.
Conclusion
It’s been a few weeks since Ethereum Classic (ETC) launched its post-fork price discovery phase, and things are looking good so far. Volume has been steadily climbing, buy over $2 million in trades taking place on the ETC/USD, and ETC/EUR markets during the past 24 hours. This activity level suggests that investors are beginning to explore the potential opportunities this new blockchain platform offers.’.
