Ethereum Classic rose by almost 40%

Cryptocurrency Ethereum Classic showed a notable price jump by 39,86% within past week
09 November 2017   2497

Ethereum Classic (ETC), a cryptocurrency which currently takes 11th place in top coins list ranked by market capitalisation was moving in a positive direction during last 7 days, rising by almost 40%. At the moment of press, the coin has a market capitalisation of $1,3 billion and is traded at $14 price, although the beginning of week was marked by not very high price of less than $10.

Ethereum Classic Charts November 2017Ethereum Classic Charts

Ethereum Classic faced some ups and downs during past several month, for instance in July 2017 it marked an all-time-high of about $23 and jumped by 25% in the end of August, nevertheless September was not so successful for the currency as its price fell down to $10.

The recent growth of the coin might be connected to the upcoming Ethereum Classic Summit which is due to occur on November 13 and 14 of 2017 in Hong Kong where a huge amount of ETC developers, stakeholders and partners will appear.

In October, a multi-currency wallet Exodus added Ethereum Classic support in its new version. Moreover, November 2 was marked by the announcement of a new version of Emerald Wallet, which is a major project designed to enable building of decentralized apps on Ethereum Classic blockchain without reinventing the whole architecture.

Also, at the same day, some security improvements were claimed to be made via Ethereum Commonwealth development update.

What might have also influenced the ETC price jump, is that OKEx, a popular Chinese exhange, announced the launch of ETH and ETC Futures on November 6.

What is more, the announcement that ETC has not been affected by the recent Parity multisig hack, has appeared in the official twitter of Ethereum Classic, which also brings positive news to the coin holders.

Thuswise, it is encouraging to see Ethereum Classic moving upwards and it is possible to assume that it might keep its positions high in the future.

Grayscale to Support ETC Devs For Another 2 Years

Ethereum Classic Cooperative was launched in 2017 for financing infrastructure development and projects in the Ethereum Classic ecosystem
23 January 2020   320

Digital asset management company Grayscale Investments has expressed its willingness to continue to provide financial support to Ethereum Classic Cooperative (ECC) for another two years.

ECC was founded in 2017 and is a public charity that directly finances infrastructure development and projects in the Ethereum Classic ecosystem. Initially, Grayscale intended to support ECC for three years, and now extended this period until April 2020.

Grayscale donates to ECC the third part of a three percent commission from its Ethereum Classic Trust. By the end of 2019, the company had donated ECC over $ 1 million.

It is a big vote of confidence which we deeply appreciate. This funding allows us to continue our support of the ETC protocol and ecosystem. We will provide grants for key projects, as we have through 2018 and 2019.

 

Bob Summerwill

ETC Cooperative executive director

In the new year, ECC intends to aim for more sustainable development by redesigning its governance structure and increasing transparency in its operations. The report for 2019 will be published by March 2020, after which such reports will be published on a quarterly basis.

Grayscale is a division of Digital Currency Group, whose founder Barry Silbert actively supports Ethereum Classic.