Ethereum Classic Price Prediction 2022-2031
Ethereum Classic (ETC) is one of the oldest cryptocurrencies that still has maintained its place among the top altcoins as it has reached a market cap of over $6 billion and trades on all major exchanges. The coin’s popularity has piqued investors’ interest; therefore, many people look for the accurate Ethereum Classic price prediction. However, some associate Ethereum Classic with risks.
The Merge will shift Ethereum to Proof of Stake, but it will not expand network capacity. Therefore, it will not impact the price of gas fees. Ethereum should become greener, leaving Bitcoin as the only major blockchain that still relies on Proof-of-Work. According to Ethereum Foundation, Ethereum’s energy consumption will be reduced by 99.95% following The Merge.
However, the Merge will transfer the entire transaction history; those digital assets will be accessible in the same way as before. Ethereum Classic isn’t planning to follow Ethereum’s switch to a different mining model. The Ethereum merge will switch the blockchain to a more sustainable Proof-of-Stake system.
Ethereum Classic’s price is skyrocketing as Ethereum miners throw their weight behind the old ways. So, what’s the verdict here? Should you buy ETC and use the Ethereum Classic price prediction to find your way?
Last month though, Ethereum Classic (ETC) was on a roll. Ethereum Classic has been up over 60% in the past seven days and over 150% in the past month, according to CoinMarketCap data. That’s far better than both Bitcoin (BTC) and Ethereum (ETH), and makes it the best performing project in the top 50 cryptos by market cap last July.
At a recent conference, the man behind Ethereum, Vitalik Buterin, said that people who didn’t want to switch to proof-of-stake would find a welcoming community with Ethereum Classic. “If you don’t like proof-of-work you should go use Ethereum classic, it’s a totally fine chain,” he said. This has widely been reported as an endorsement of ETC.
Today’s Ethereum Classic price is $28.23 USD with a 24-hour trading volume of $473,874,466. Ethereum Classic is up 3.08% in the last 24 hours. The current CoinMarketCap ranking is #21, with a live market cap of $3,874,307,133. It has a circulating supply of 137,236,406 ETC coins and a max. supply of 210,700,000 ETC coins.
Ethereum Classic Price Prediction 2022 past performance by Coinmarketcap
Ethereum Classic growing bulk – an interesting development
Ethereum Classic follows Bitcoin in gains as it has accumulated 0.78% gains over the last 24 hours of 7 March 2022. However, Ethereum Classic, compared to Ethereum, has a lower value. The seven-day performance shows that ETC shed 11.66%. The current price for Ethereum Classic is estimated to be $26.65.
Ethereum Classic price forecast Source: TradingView
Ethereum Classic saw a 150% rise in its trading volume over the last 7-days. A movement that was in sync with the increasing current circulating supply of the coin, which flew upwards by 2.56%, thereby resulting in the circulating supply crossing the 134.7 million mark. Currently, the live market capitalization stands at $2.89 billion, with a ranking of #32.
If we take a peek at the market cap of Ethereum Classic, it is estimated to be $3,555,272,274. The 24-hour trading volume shows hope for this coin as activity has grown. Its value has grown to $389,907,192.The circulating supply of this coin is 133,400,747 ETC.
ETC was created due to a split in the developer and user community, just like with Bitcoin and Bitcoin Cash. Ethereum Classic is one of those coins that remain in the market even after several other coins cease to exist. Therefore, it becomes necessary to have Ethereum Classic price prediction and know what benefits it may give you.
What is Ethereum Classic?
Ethereum Classic coin was created in July of 2016 due to a split in the Ethereum community after the original blockchain got hacked. Fundamentally, the two blockchains – Ethereum and Ethereum Classic were similar at first. The history of this crypto is definitely valuable.
Ethereum Classic is a hard fork of the source platform Ethereum which occurred in 2016 after the hack of the Ethereum-based Decentralized Autonomous Organization (DAO). The community got split into two opposing camps, and the same happened to the project as well.
Over time, differences arose as the Ethereum classic network community wanted to keep the blockchain running on a Proof-of-Stake consensus algorithm and secure blockchain immutability. The Ethereum community wanted to develop it into a much advanced, proof-of-stake-based digital currency.
Few people understood the concept of division in the initial stages, and the Ethereum Classic prediction remained at a lower level. The hard fork coin is more of a protocol rather than a store of value like gold. Ethereum Classic’s current market status is being compared to gold, despite the overall crypto market facing a broad sell-off in the past week.
For those investors who wanted to exit the DAO, the so-called “Split function” exposed an enormous loophole in the whole system. Instead of simply requesting a refund, the hacker launched a recursive function that repeated the request before the initial transaction was registered on the blockchain.
Ethereum Classic’s total supply is hard-capped at 210,700,000 ETC as of December 2017. Similar to Bitcoin having reward halving, Ethereum classic reduces its block reward by 20 percent every 5,000,000 blocks. At every halving event, updating the Ethereum Classic prediction is necessary. This is applicable to every cryptocurrency out there.
Ethereum Classic works on the Proof-of-Work protocol and has great potential owing to the Nakamoto Consensus mechanism. Recently, Ethereum Classic reduced the block reward for mining each block from 4 ETC to 3.2 ETC. The Ethereum Classic prediction became more optimistic due to the halving event as the coins left to mine lowered down. Therefore, Ethereum Classic price has become more similar to Bitcoin’s price in some aspects than its original source – Ethereum. People have always compared Ethereum Classic price and functionality to that of Ethereum, the latter winning every time.
Today, we can see that the Ethereum Classic price rise has slowed down, and the coin even fell behind the original Ethereum, which the Ethereum Foundation runs. Ethereum trades with a much larger market capitalization and has gained much larger popularity. However, Ethereum Classic is still trendy and can be purchased on practically every cryptocurrency exchange. Therefore, let us have a look at the Ethereum Classic price prediction.
Developments affecting the price
Digital assets manager, Grayscale Investments, recently announced that its Ethereum Classic Trust is now an SEC reporting company. With this move, ETC joins the list of investment vehicles from the world’s largest digital asset manager. A list that also includes Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Digital Large Cap Fund. The functionality differences increase over time, creating large price and capitalization size differences. However, the Ethereum classic is still one of the good coins to diversify your cryptocurrency market investment portfolio and avoid high risks.
In the last 48 hours, sometime in May 2021, Ethereum Classic has registered a new all-time high as it moved past the $175 mark to settle at around $197. On looking at its price movement in the last few days, Ethereum Classic appears to have outdone most of the top crypto coins. This bullish momentum has seen the crypto asset safeguard a spot for itself among the top 15 most significant cryptocurrencies in the market.
What could be the secret for a cryptocurrency trading from $35 in late April to $110 on 5 May? Well, the secret is the sudden market interest in Ethereum, Ethereum Classic’s pricier sibling, and social media attention. At the moment, amateur investors are confusing Ethereum with Ethereum Classic hence the sudden uptrend. Others prefer the crypto coin due to its inexpensive cost compared to its costly sibling. Could this happen again?
Should you invest in Ethereum Classic?
When comparing Ethereum blockchain vs. Ethereum classic blockchain, the difference can’t be clearer. We can see that Ethereum has performed substantially better than the Ethereum Classic price over the past years. Price, as a well-performing factor, fuels its increased usage among users, pushing vendors and service providers to widen their accepted deposit methods and add Ethereum. For example, price predictions show that it will equate to and even overseed the usage of Bitcoin in iGaming deals. Should you sell Ethereum Classic and buy Ethereum instead?
Ethereum Classic has also been in shambles as the expectations regarding Bitcoin’s rise to $100K have turned to fears of stability at $40K. As previously, the growth of Bitcoin was expected to bring stability to other coins, including the Ethereum Classic, but it didn’t happen. As a result of this change, there has been a continuous decline seen in the case of many coins.
Despite the ongoing difficulties for the market, there are chances of a market revival. If you buy the dip, there are chances that you might feel fortunate to have bought Ethereum Classic. As Bitcoin makes further gains, there are chances that the Ethereum Classic might also cross $50. The rise of this currency depends on a rally and stability in the value.
If we look at the forecast given by Wallet Investor, it shows that the Ethereum Classic price might reach $177.290 in the coming five years.
ETC Price History
Analyzing its performance for the past week shows that Ethereum Classic has fluctuated from $30 to lower values. The reason for this fluctuation is the ongoing situation of market instability due to geopolitical crises. Ethereum’s classic price has shed more than $4 in a single week, which shows how it has been through hard times. As the market continues to be bearish, there are chances that the Ethereum Classic price might not be able to get the desired gains.
Ethereum classic current market status Source: CoinMarketCap.com
Ethereum Classic Technical Analysis
The ETC token price has been trading south for the last 30 days straight, losing over 50% of its value from the year’s high. The MACD histogram indicates increasing Ethereum Classic price momentum to the upside; the MACD line is breaking above the signal line, suggesting bullish momentum in the short term. The William alligator trend lines suggest the ETC value will continue south. The 14-day reactive strength index shows Ethereum Classic is neither in the overbought nor oversold territory- there is no sign of a price reversal and plenty of room for upward price movement.
Ethereum Classic Price Predictions by Cryptopolitan
Ethereum Classic Price Prediction 2022
Our Ethereum Classic price prediction 2022 is a maximum price of $32.01 with a minimum price of $28.96. The average token price is predicted to be $30.32 by the end of 2022.
Ethereum Classic is a potential post-merge haven for proof-of-work miners following the Ethereum merge. The coin, however, saw double-digit losses a week after the Merge.
Ethereum Classic Price Prediction 2023
Our Ethereum Classic price prediction 2023 could be a maximum price of $51.29. The minimum price is $44.14, and the average trading price of the coin is predicted to be $45.35.
Ethereum Classic Price Prediction 2024
Our Ethereum Classic price prediction 2024 is a maximum price of $77.29. Ethereum Classic’s minimum price is predicted to be $65.57 and an average price of $67.84.
Ethereum Classic Price Prediction 2025
Our Ethereum Classic price prediction 2025 is a maximum price of $113.30. The coin’s lowest price is expected to be $92.09, and the average trading price of the coin is $94.18. The influx of manageability features through the DAO with other powerful ad campaigns can boost Ethereum Classic.
Ethereum Classic Price Prediction 2026
Our Ethereum Classic price prediction 2026 is a maximum of $159.05. The minimum price the coin will have by the end of 2026 will be $132.61, while its average trading price is expected to be $136.41. The growth will be enabled by the continuous growth of the ETC tokens, Ethereum Classic network, and ecosystem.
Ethereum Classic Price Prediction 2027
Our Ethereum Classic price prediction 2027 is a maximum price of $231.84, with a minimum price of $190.82. We also expect that the average trading price of the coin by that time is expected to be $196.28.
Ethereum Classic Price Prediction 2028
Our Ethereum Classic price prediction 2028 is a maximum price of $330.18. The minimum price of the coin by 2028 is expected to be $269.90; the average trading price of the coin is forecasted to be $279.71.
Ethereum Classic Price Prediction 2029
Our Ethereum Classic coin price prediction 2029 is a maximum price of $468.09 with an average trading price of $384.56. The coin is expected to have the lowest price at $398.54.
Ethereum Classic Price Prediction 2030
Our Ethereum Classic ETC price prediction 2030 is that Ethereum Classic could skyrocket, and its highest price could reach $680.17. The lowest price of the coin is $557.59. The average trading price of the coin is expected to be $573.53.
2030 could bring a considerable general hike in the crypto market value.
Ethereum Classic Price Prediction 2031
Ethereum Classic price prediction 2031 is a maximum trading price of $963.88, with an average trading price of $796.51. The minimum price of the coin is expected to be $825.19.
Ethereum Classic crypto price prediction by WalletInvestor
Wallet Investor uses Artificial intelligence (AI) and machine learning to provide Ethereum Classic price forecasts. The AI indicates Ethereum Classic’s past performance index rating as B+. It adds that Ethereum Classic would make a ‘not so good one-year investment; it will sell at $28.168 in one year. Ethereum Classic’s value will rise from the current price to $21.247 in two weeks. Ethereum Classic’s return on investment (ROI) will be 1.9% in 2023. In 2024 the ROI will be 5.7%; in 2025, it will be 9.6%; in 2026, it will be 15.5%. According to the analysis, the ETC bullish trend continues over the entire period.
Ethereum Classic coin price prediction by TradingBeasts
The site uses linear and polynomial regressions on past data to provide an Ethereum Classic price forecast. Ethereum Classic’s price will rise to $ 26.572 in November. It will then be bullish for the rest of the year.
In December, Ethereum Classic will be selling at $26.710. In 2023, Ethereum Classic will trade at an average price of $26.882 in January and $30.791 in December; in 2024, Ethereum Classic will trade at an average price of $31.333 in January and $38.221 in December. In 2025, Ethereum Classic will trade at an average price of $38.903 in January and $46.116 in December.
Ethereum Classic coin price prediction by Digitalcoinprice
Ethereum Classic cryptocurrency performed well in April and August but dipped in subsequent months. Ethereum Classic’s price will go up to $35.05 in November. It will continue trading sideways, reaching $32.84 in December. Ethereum Classic will be on a bullish trend from 2022 to 2030. In 2023 it will trade at a mean price of $62.88. It will reach a maximum price of $65.11 and a minimum of $58.72. In 2025 it will trade at a mean price of $111.50. It will reach a maximum price of $117.92 and a minimum of $105.70. In 2030 it will trade at a mean price of $385.03. It will reach a maximum price of $389.85 and a minimum of $378.98.
Ethereum Classic Token Price Prediction by Industry Influencers
Cilinix Crypto Youtube channel’s latest update on Ethereum Classic suggests that the coin has potential despite breaking below the $28 support. The support levels dropped lower to $24 – $25, which, when reached ETC, will potentially surge to the $30 mark in the next bull run.
He comments that ETC has had little news, with the only development being the migration of POW miners from ETH to ETC. ETC is also facing competition from the new Ethereum POW, which has more updates despite having a small community.
The October price outlook is bullish.
As big institutions increasingly threaten incoming blockchain tech, only truly decentralized cryptocurrencies will survive the wild ride. Ethereum Classic has proven its ability to resist censorship against all the odds and to deliver the original Ethereum vision of robust applications. By combining the Ethereum technology with the philosophy of BTC, ETC is uniquely positioned to be the Smart Contract Platform of the future, as other chains are captured by special interests and become compromised.
ETC is, however, set to face competition from Ethereum POW, which is verified by POW miners who were phased out by the merge. Ethereum POW will steal part of ETC’s market share with a growing community.
The Ethereum Classic forecast shows that crypto coins will hit an ATH in 2027. Negative news and market crashes could, however, derail Ethereum Classic’s performance in the cryptocurrency market.
ETC crypto analysis and prediction are not investment advice; the cryptocurrency market prices are highly volatile.