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Things are not going well with Ethereum Classic as the coin's community struggles to regain a suspended twitter account. At the center of the issue is one Charles Hoskinson, who happens to be the founder of Cardano.
Ethereum Classic project Twitter account mired in controversy
At least four weeks have passed since the Ethereum Classic [ETC] hash rate peaked after Ethereum's merge. It has pulled back significantly since then and a look at its current hash rate reveals some interesting observations.
Cryptocurrency is volatile enough to make millionaires of those who make some fortunate choices. We posit that luck has little to do with it – the crypto-rich simply spotted some phenomenal projects and pledged their cash early. Here are some up-and-coming projects that might just be the next big thing.
Ethereum Classic had a September filled with hardships as the altcoin had to bear the brunt of the ongoing bear market. However, it seems like the bearish momentum will continue for ETC, and one of the reasons for that could be ETC's declining social engagements.
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Bearish market structure on higher timeframes ETC trades near the Fibonacci golden pocket as well Ethereum Classic [ETC] saw a lackluster performance in the markets on 15 October.
There was a 5% loss in value for ETC over the past day. The Ethereum Classic coin has continued its fall on longer time frames since the July spike.
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice Moving averages depicted a strong selling edge as the price action approached a support region. Ethereum Classic's funding rates showed slight improvement but were yet to turn positive.
Ethereum Classic (CRYPTO: ETC) is trading flat to $23.19 going into the close of U.S. market trading Thursday, recovering sharply after selling off some 9.88% to $20.90 intraday. Cryptocurrencies at large are volatile Thursday after September CPI data showed worse-than-expected inflation.
Ethereum classic remained close to a three-month low in today's session, as the token continued to extend recent declines. The token is now trading almost 15% lower in the last seven days. Near protocol was also lower, with it also falling to its lowest point since July.
The Ethereum Classic [ETC] community can be considered in the middle of a controversy involving a smart contract platform called Ergo. This controversy might be a key reason for ETC's bearish performance and price slippage below $27.
Cryptocurrencies often offer opportunities for so-called ‘100-baggers' (or 100x) investments. Even more so than traditional finance markets like Wall Street. Of course, these high-performing crypto assets can underlie certain volatility, but ultimately the reward ratio often outweighs the risk.
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Ethereum Classic has already seen rejection at the $29 mark $27.3 also flipped to resistance, a retest could offer traders an opportunity Ethereum Classic [ETC] has been in a downtrend since early September.
The top cryptocurrency by Twitter followers is, ETC, NEAR, QNT, TUSD, and HBAR. Near Protocol has more than 6K Twitter
Charles Hoskinson, the blockchain leader known as one of the key figures responsible for creating Ethereum Classic and Input Output Hong Kong (IOHK), the parent company of Cardano recently converted the Twitter account of Ethereum Classic ( ETC) to that of Ergo Proof-of-Work network on the 6th of October
Coinspeaker Ethereum Classic Twitter Account Now Converted to That of Ergo Community
Ethereum Classic's (ETC) Twitter account with over 670,000 followers was repurposed into a new account for rival proof-of-work network Ergo (ERG) on October 6. The post Ethereum Classic's Twitter account repurposed for Ergo appeared first on CryptoSlate.
These are seven cryptos to watch that savvy investors would be wise to avoid. The hype just may not be able to turn into sustained rallies.
Ethereum Classic [ETC] concluded the second half of September on a bearish note that resulted in a support retest. The bearish momentum notably weakened but ETC continues to tread lower after failing to bounce from support.
Ethereum Classic (ETC) has been in the clutch of the bears as it has shaved off as much as 30% in the past two weeks. Ethereum Classic price down 30% in the past two weeks ETC trading at $27.69 as of press time ETC's downturn opens up opportunities for short-term positions ETC has dropped below the $33.9 zone barely two weeks ago and it seems Bitcoin is suffering the same fate as it failed to barrel past the key resistance of $19.7k.
The Ethereum Classic price has been highly bearish since the beginning of September, but it quickly recovered and stabilized at $38.00 for a few days. The conflict between the bulls and bears persisted, the bears quickly took charge, and the ETC price dropped to $27.72. The prices quickly increased to equal highs set at $30.
The cryptocurrency industry's ecology is ever-changing. Innovation in the crypto industry keeps investors motivated to support cryptocurrencies. Over the past six months, two cryptocurrency initiatives, Ethereum Classic (ETC) and Litecoin (LTC), have generated millions of dollars in income while providing top-notch services to their users.
Bitcoin (CRYPTO: BTC) briefly popped up above the $20,000 mark on Friday when the S&P 500 spiked higher, before running into a group of sellers who pushed the crypto back under the level. Dogecoin (CRYPTO: DOGE) followed suit, temporarily rising up above Thursday's 24-hour trading session high, while Ethereum Classic (CRYPTO: ETC), the weaker of the three cryptos, was unable to move notably higher.
After the successful launch of the Ethereum merge, where the network was transformed from proof-of-work (PoW) to proof-of-stake (PoS), miners flocked to Ethereum Classic (ETC). Since then, the currency has not been able to trade positively. At the time of writing, Ethereum Classic is trading at $27.82 after a jump of 0.
