Why Is Ethereum Classic(ETC) Price Soaring High?

Coinbase, the largest crypto exchange forum, announced its extension to the list of tradable instruments with ETC (Ethereum Classic), after which the price spiked by around 25%.

ETC, the 18th most valuable cryptocurrency, is the result of a hard fork in 2016, initiated on Ethereum blockchain following DAO attack, has gained its momentum with the market capitalization of $1.56 billion, trading at $15.31.

The price of Ethereum Classic soared ceiling high, jumping from $12.9 to $16.15 in one hour after the news of its addition was announced.

According to CoinMarketCap, “the circulating supply of ETC is 100,507,465. ETC is inflationary through block rewards until the year 2025, when its coin supply will be capped at 210 million.”

The ease of access along with its availability in most of the trading pairs helps people trade hassle -free.

Amidst the excitement revolving around the Ethereum Classic enthusiasts, it should be noted that integrating forked coins requires very less effort as compared to the cryptos built from scratch.

Last but not the least, we should remember that fluctuations in cryptocurrency pricing are prevalent since its inception. However, from ETC’s point of view, it’s doing great at the moment and will undergo continual changes even until it’s integration.

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This article was originally published at CoinSwitch Blog