Ethereum Classic Price
(ETC)
USD($)
Ethereum Classic (ETC) Live Price Chart
Overview
About
Analysis
FAQ
Ethereum Classic Live Price Data
The live price of Ethereum Classic is $26.15, with a total trading volume of $ 1.11M in the last 24 hours. The price of Ethereum Classic changed by -4.19% in the past day, and its USD value has decreased by -19.28% over the last week. With a circulating supply of 150,037,701 ETC, the market cap of Ethereum Classic is currently 3.91B USD, marking a --% increase today. Ethereum Classic currently ranks #25 in market cap.
How do you feel about Ethereum Classic today?
Note: This data is for reference only.
Ethereum Classic(ETC) Profile
Rank25
BBExpand 
Website
Documentation
Explorer
Contract
- BNB Smart Chain (BEP20) 0x3d6545...25e
Audited By
- --
Code & Community
Investors
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$25.66
$28.56
- ATH
- $176.05
- Price Change (1h)
- +0.64%
- Price Change (24h)
- -4.19%
- Price Change (7d)
- -19.28%
- Market Cap
- $3.91B
- 24h Volume
- $1.11M
- Circulating Supply
- 150,037,701
- Max Supply
- 210,700,000
About ETC
How can I buy Ethereum Classic (ETC)?
Buying ETC on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Ethereum Classic (ETC) for more information. What Is Ethereum Classic (ETC) Crypto?
Ethereum Classic (ETC) is a cryptocurrency that originated from a split or "hard fork" of the original Ethereum blockchain. This split occurred in July 2016 as a result of a divergence in the Ethereum community following a major hacking event known as the DAO (Decentralized Autonomous Organization) hack. In this event, an attacker exploited a vulnerability in the DAO's smart contract code, leading to the theft of over 3.6 million Ether, worth around $50 million at the time.
The Ethereum community faced a significant decision: whether to reverse the hack through a hard fork, effectively "rewinding" the blockchain to return the stolen funds or to proceed without making these changes. The majority supported the hard fork, which led to the creation of what is now known as Ethereum (ETH), where the stolen funds were returned to their original owners.
However, a portion of the community opposed the hard fork on the principle of "immutability," a foundational concept in blockchain technology that argues the ledger should not be altered after the fact, regardless of the circumstances. They continued to support the original blockchain, which was renamed Ethereum Classic (ETC). Thus, Ethereum Classic and Ethereum have since evolved as separate projects with different development teams, communities, and goals. However, they share much of the same codebase up to the point of the fork.
Ethereum Classic retains the original Ethereum blockchain's vision, emphasizing the principle of "Code is Law," and focuses on preserving the untouched history of the Ethereum network. It operates as a decentralized computing platform that can execute smart contracts—self-executing contracts with the terms of the agreement directly written into code. ETC is used within the Ethereum Classic network to pay for transaction fees and computational services.
Despite the split, Ethereum Classic has continued to develop its platform, focusing on stability, technology, and a distinct philosophy from Ethereum. However, it's important to note that Ethereum has since become the more widely adopted platform, with a larger developer community and more applications built on its network.
How Does Ethereum Classic Work?
Ethereum Classic (ETC) operates similarly to the original Ethereum and other blockchain platforms but with its own distinct features and development path following the split. Here’s a breakdown of how Ethereum Classic works, focusing on its key components and functionalities:
1. Blockchain Technology
Ethereum Classic is built on blockchain technology, a decentralized and distributed ledger that records all transactions across a network of computers. This ensures transparency, security, and immutability, as once transactions are recorded on the blockchain, they cannot be altered or deleted.
2. Smart Contracts
At the heart of Ethereum Classic is the ability to create and execute smart contracts. These are self-executing contracts with the terms of the agreement directly written into code. Smart contracts run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. This enables developers to build decentralized applications (dApps) on the Ethereum Classic platform.
3. Ethereum Virtual Machine (EVM)
The Ethereum Virtual Machine (EVM) is Ethereum Classic's runtime environment for smart contracts. It is a completely isolated environment, meaning that code runs without access to the network, filesystem, or other processes. The EVM makes the process of creating blockchain applications easier and more efficient, as developers can write smart contracts in high-level programming languages like Solidity.
4. ETC Crypto
ETC is the native cryptocurrency of the Ethereum Classic network. It is used to compensate participants who perform computations and validate transactions (miners), and it's required to pay for transaction fees and computational services on the network. Holding ETC also gives members of the Ethereum Classic community the ability to participate in the platform's governance to some extent, depending on the development decisions and direction of the network.
5. Proof of Work (PoW) Consensus Mechanism
Ethereum Classic utilizes a Proof of Work (PoW) consensus mechanism, where miners compete to solve complex mathematical problems to validate transactions and add new blocks to the blockchain. This process secures the network and ensures that all transactions are processed fairly and in chronological order. As a reward for their efforts, miners receive ETC tokens.
6. Decentralization and Immutability
Ethereum Classic emphasizes the principles of decentralization and immutability. It operates under the philosophy that the blockchain should remain unchanged and transactions irreversible to uphold the integrity and trustlessness of the network. This stance was central to its split from Ethereum, emphasizing "Code is Law."
7. Development and Governance
The development and governance of Ethereum Classic are more decentralized compared to some other blockchain projects. Various independent teams and individuals contribute to its development, with decisions often made through community consensus or following the lead of major development teams and stakeholders within the ecosystem.
Ethereum Classic aims to provide a stable and predictable platform for developers, maintaining compatibility with Ethereum’s developments up to the point of the fork while also implementing its own improvements and features to enhance security, scalability, and functionality.
History of Ethereum Classic (ETC) Token
The Ethereum Classic blockchain originated from a divisive event within the Ethereum community, leading to a split in the Ethereum blockchain. This event occurred in July 2016, following the controversial decision to hard fork the Ethereum network in response to the DAO hack.
The original Ethereum network was created by Vitalik Buterin and several co-founders, including Gavin Wood, Charles Hoskinson, Anthony Di Iorio, Mihai Alisie, Amir Chetrit, Joseph Lubin, and Jeffrey Wilcke, among others. These individuals were instrumental in the development and launch of Ethereum in July 2015.
However, Ethereum Classic came about due to a segment of the Ethereum community's decision to continue using the unforked version of the Ethereum blockchain after the DAO hack incident. Ethereum Classic does not have specific founders like Ethereum or other cryptocurrencies do. Instead, it was formed by community members who believed in maintaining the original Ethereum blockchain's immutability, operating under the principle that "Code is Law."
In 2023 and early 2024, Ethereum Classic (ETC) saw significant developments, notably the implementation of the SPIRAL hard fork and the anticipation of the "Fifthening" event:
1. SPIRAL Hard Fork: Scheduled for block 19,250,000, the SPIRAL hard fork is a significant upgrade for Ethereum Classic, expected to occur around January 31, 2024. This upgrade is part of Ethereum Classic's ongoing efforts to improve the network's functionality and efficiency. The SPIRAL hard fork includes technical changes and enhancements, particularly aimed at updating OPCODEs and aligning the ETC Network with current Ethereum Virtual Machine (EVM) standards, which facilitates contract development and migration on the platform. Node operators and miners have been advised to update their software to the latest version to ensure smooth network operation post-upgrade.
2. The Fifthening: Another pivotal event for Ethereum Classic is the "Fifthening," which is akin to Bitcoin's "halving" process but specific to ETC. Ethereum Classic's monetary policy includes a mechanism where, for every 5,000,000 blocks, the mining reward decreases by 20%. This reduction aims to reduce the rate of new ETC entering circulation, mirroring a form of digital scarcity similar to gold. The next Fifthening is projected to occur around May 25, 2024, further reducing the block reward and impacting the inflation rate of ETC. This event underscores Ethereum Classic's commitment to a predictable and diminishing issuance model, enhancing its appeal as a store of value.
What Is ETC Coin Used for?
Ethereum Classic (ETC) serves various purposes within its blockchain ecosystem, similar to how other cryptocurrencies are used within their respective networks. Here are some of the key uses of ETC:
1. Transaction Fees and Gas: ETC is used to pay for transaction fees and computational services on the Ethereum Classic network. Whenever users execute transactions or deploy and interact with smart contracts, they must pay fees in ETC. These fees are calculated based on the complexity of the transaction and the computational power required to execute it, referred to as "gas" in the Ethereum and Ethereum Classic ecosystems.
2. Smart Contracts and Decentralized Applications (dApps): Ethereum Classic supports smart contracts and dApps, similar to Ethereum. Developers use ETC to deploy and interact with smart contracts on the blockchain. This enables a wide range of decentralized applications, from financial tools to games, to operate without the need for a central authority.
3. Incentive for Ethereum Classic Miners: Miners are rewarded with ETC for validating transactions and securing the network. Ethereum Classic uses a PoW consensus mechanism, where miners solve complex mathematical problems to validate transactions and add new blocks to the blockchain. The ETC reward serves as an incentive for miners to contribute their computational power to the network.
4. ETC Staking and Governance: While Ethereum Classic itself does not currently support staking in the same way as Proof of Stake (PoS) networks, ETC can be used in various platforms and applications built on top of the Ethereum Classic blockchain that may offer staking mechanisms. Additionally, holding ETC can grant users a say in certain governance decisions within the ecosystem, depending on how individual dApps or platforms are structured.
5. Investment and Store of Value: Like other cryptocurrencies, ETC is bought, sold, and held as an investment. Investors may speculate on the price of ETC or hold it as a store of value, similar to digital gold. The finite supply of ETC (capped at approximately 210.7 million ETC) adds to its scarcity and potential value over time.
6. Interoperability and Tokenization: ETC can be used for tokenization, where real-world assets are represented as tokens on the blockchain, facilitating their exchange and interaction within the Ethereum Classic ecosystem. Additionally, efforts in interoperability may allow ETC to be used across different blockchain platforms, enhancing its utility and application.
7. Trade Ethereum Classic on KuCoin: Trade ETC coin against other cryptocurrencies on the KuCoin Spot Market to make the most of changing market conditions and volatility. Buy or sell $ETC or hold it long-term if you believe in the future potential of Ethereum Classic and PoW coins. Remember to DYOR before trading ETC in the crypto market.
Ethereum Classic (ETC) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-1.26 | -4.62% |
| 7 Days | $-6.61 | -20.23% |
| 30 Days | $-0.8749 | -3.24% |
| 3 Months | $6.54 | 33.49% |
24H Investment Barometer
24H
- Strong Buy
- The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
Strong SellSellNeutralBuyStrong Buy
Ethereum Classic Conversion Rate
FAQ
How much is 1 Ethereum Classic (ETC) worth?
KuCoin provides real-time USD price updates for Ethereum Classic (ETC). Ethereum Classic price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time ETC to USD exchange rates. Is Ethereum Classic (ETC) a Good Investment?
Here are some potential advantages of adding $ETC coin to your crypto portfolio:
1. Decentralization and Immutability: ETC maintains a strong commitment to the principles of decentralization and immutability. This adherence to the original ethos of the Ethereum blockchain appeals to investors who value these principles highly, providing a distinct alternative to other blockchains that have implemented more centralized governance structures or have altered their ledgers post-deployment for various reasons.
2. Security Enhancements: Despite having been targeted by 51% attacks in the past, Ethereum Classic has implemented measures such as the MESS (Modified Exponential Subjective Scoring) solution to significantly increase the cost and complexity of executing such attacks, aiming to enhance network security and restore investor confidence.
3. Developer and Community Support: ETC benefits from a dedicated and passionate community and developer base. While it may not have as many developers as Ethereum, the community's commitment ensures continuous improvements and updates to the platform, potentially increasing its utility and value over time.
4. Potential for Growth: As the original Ethereum blockchain, ETC holds historical significance and retains potential for growth, especially as the cryptocurrency market evolves. With ongoing developments and updates, ETC could capture increased interest from developers and investors alike, especially those looking for alternatives to Ethereum, particularly in the context of mining post-Ethereum's transition to proof-of-stake.
5. ETC Mining Opportunities: With Ethereum's shift to proof-of-stake through The Merge, Ethereum Classic remains one of the major proof-of-work blockchains. This presents an opportunity for miners to continue their operations and for the network to potentially attract additional hash power, enhancing its security and potentially the Ethereum Classic value.
What Is Ethereum Classic Price Prediction?
While we cannot provide a reliable ETC coin price prediction over any timeframe, the following factors could influence the price changes in Ethereum Classic crypto:
1. Crypto Market Sentiment and Speculation: General investor sentiment towards cryptocurrencies can significantly impact the ETC price. Positive news, such as technological advancements or increased adoption, can lead to speculative trading, increasing the Ethereum Classic price. Conversely, negative news can lead to declines in the ETC to USD price.
2. Network Security: The security of the Ethereum Classic network is crucial. Past incidents like the 51% attacks have affected the ETC coin price and investor confidence. Measures to enhance security can positively influence the $ETC price, while security breaches can lead to declines.
3. Adoption and Usage: Increased adoption of Ethereum Classic for real-world applications, such as smart contracts and dApps, can drive demand for ETC, potentially increasing the ETC crypto price. The utility of the network in facilitating transactions and its integration into broader blockchain ecosystems play a significant role.
4. Technological Developments: Upgrades and improvements to the Ethereum Classic platform that enhance its scalability, security, and functionality can attract more users and developers, boosting the demand for ETC.
5. Market Dynamics and Competition: Ethereum Classic operates in a competitive environment with numerous other cryptocurrencies and blockchain projects. Its performance relative to alternatives like Ethereum (ETH) and its ability to differentiate itself and capture a unique market niche can influence the ETC token price.
6. Economic Factors: Broader economic conditions, including inflation rates, currency fluctuations, and changes in investment strategies, can also impact the cryptocurrency market, including ETC. For instance, during times of economic uncertainty, some investors may turn to cryptocurrencies as a hedge against fiat currency devaluation, potentially affecting the Ethereum Classic coin price.
7. Ethereum Classic Mining Dynamics: Since Ethereum Classic operates on a PoW consensus mechanism, factors related to mining, such as changes in mining difficulty, rewards, and the overall hash rate, can influence the supply dynamics and, consequently, the price of ETC.
How to Mine Ethereum Classic
Here's a step-by-step guide on how to mine Ethereum Classic (ETC):
Preparation
1. Mining Hardware: You'll need powerful hardware to mine ETC profitably. Graphics Processing Units (GPUs) are the most common choice for ETC mining. Research the profitability of different GPUs for ETC mining before you buy.
2. Mining Software: Several software options are available for ETC mining. Popular choices include GMiner and NBMiner.
3. Ethereum Classic Wallet: Choose a secure crypto wallet to store your mined ETC. Popular options include Exodus, Trust Wallet, or exchange wallets like KuCoin.
Steps on Mining ETC Coin
1. Set up your ETC Wallet: Create an ETC wallet address where you'll receive your mining rewards.
2. Join an ETC Mining Pool (Optional): While solo mining is possible, it's less profitable for individual miners. Mining pools combine the hashing power of multiple miners to increase the chance of finding blocks and earning rewards. Popular ETC mining pools include Ethermine, f2pool, and 2Miners.
3. Configure your Mining Software: Download your chosen mining software and extract the files. Locate the start file (".bat" for Windows or ".sh" for Linux). Edit this file with a text editor.
4. Configure Mining Pool Details (if using a pool): In the start file, replace the placeholder text with your ETC wallet address and the mining pool information (URL, port, etc.). You can find this information on the mining pool's website.
5. Configure Hardware Settings (Optional): Some mining software allows you to optimize your GPU settings for better performance or lower power consumption. This might involve adjusting clock speeds, memory settings, or power limits.
6. Start Mining: Save the edited start file and run it. The mining software will use your GPU's processing power to solve mathematical puzzles for the Ethereum Classic network.
7. Monitor Performance: Monitor your mining software's performance metrics like hashrate (mining speed) and power consumption.
Additional Considerations
> Profitability: Mining profitability can fluctuate depending on several factors like electricity costs, mining difficulty, and the price of ETC. Use profitability calculators before investing in hardware to see if mining is worthwhile for you.
> Hardware Wear and Tear: Mining can strain your GPU and increase electricity consumption. Consider the potential impact on your hardware lifespan.
> Heat Management: Mining generates heat. Ensure proper ventilation to avoid overheating your hardware.
ETC vs. ETH: Difference Between Ethereum and Ethereum Classic
Here's a breakdown of the key differences between Ethereum (ETH) and Ethereum Classic (ETC):
Origin
> Ethereum (ETH): The original blockchain was launched in 2015 by Vitalik Buterin.
> Ethereum Classic (ETC): A fork of the Ethereum blockchain created in 2016 after a major hack (The DAO hack).
Philosophy
> Ethereum (ETH): More focused on innovation and adaptability. Has undergone several upgrades, including a switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus mechanism (still in progress).
> Ethereum Classic (ETC): Emphasizes immutability and adherence to the original Ethereum blockchain. Maintains the PoW mechanism.
Technical Differences
> Blockchain: Both share the history up to block 1,920,000, where the DAO hack occurred. After that point, the chains diverged.
> Consensus Mechanism: Ethereum transitioned to PoS with The Merge in September 2022 and is considered more energy-efficient. ETC continues with PoW, similar to Bitcoin.
> Upgrades: Ethereum has implemented various upgrades for scalability and functionality. ETC maintains a more conservative approach to upgrades.
Market Value and Use Cases
> Ethereum (ETH): Significantly higher market capitalization and wider adoption for smart contracts and dApps.
> Ethereum Classic (ETC): Lower market capitalization, but still used for dApps and seen as a store of value by some.
What is the all-time high price of Ethereum Classic (ETC)?
The all-time high price of Ethereum Classic (ETC) is $176.1500. The current price of ETC is down 85.14% from its all-time high.
What is the all-time low price of Ethereum Classic (ETC)?
The all-time low price of Ethereum Classic (ETC) is $0.4524. The current price of ETC is up 5,683.81% from its all-time low.
How much Ethereum Classic (ETC) is there in circulation?
As of 12 22, 2024, there is currently 150,037,701 ETC in circulation. ETC has a maximum supply of 210,700,000.
What is the market cap of Ethereum Classic (ETC)?
The current market cap of ETC is $3.91B. It is calculated by multiplying the current supply of ETC by its real-time market price of $3.91B.
How do I store Ethereum Classic (ETC)?
You can securely store your Ethereum Classic in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your ETC include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Peanut the Squirrel (PNUT) to cash?
You can instantly exchange your Peanut the Squirrel (PNUT) for cash using KuCoin's Fast Trade feature. This feature enables you to convert PNUT to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.