Ethereum Classic (ETC) continues to surprise many cryptocurrency enthusiasts and experts with its fast but steady growth. Significantly, the growth is not only development centric but also community-based. ETC has clocked over 210,000,000 followers on Twitter, besides its community keeps growing at an astonishing rate. Consequently, this article will highlight the latest news from Ethereum Classic and touch on relevant information regarding this cryptocurrency.
Ethereum Classic Labs
In an interview with Igor Artamonov, Terry Culver shares insights into Ethereum Classic Labs. Terry refers to Ethereum Classic as “one of the first incubators to support innovative projects on the Ethereum Classic Blockchain, helping to accelerate development of the Ethereum Classic community & ecosystem.” The incubator development kicked off at the beginning of 2018, however, it is now at a stage where applications are being accepted.
Terry said that he believes that the current price of ETC greatly undervalues the cryptocurrency. He notes that ETC has an edge over all other ecosystems due to its compatibility with the Internet of Things (IoT). More importantly, the project is working hard to grow its developer community. The team working on Ethereum Classic Labs has reviewed the applications from various startups. Moreover, they will soon make an announcement of the promising projects that will have been selected. Ethereum Classic believes in the development of a strong technologically advanced ecosystem. Terry shared the mission for the incubator stating:
“Our mission is to attract talented developers and blockchain and crypto innovators to join us in growing the community. We are also actively searching for promising projects and ideas so we can help them to evolve into industry leaders.”
In other news, Coinbase cryptocurrency exchange announced that it’s working on listing Ethereum Classic as a tradable asset to its portfolio. As mentioned above Terry believes that ETC is significantly undervalued. However, it could be that the Coinbase listing is the boost that the asset has been waiting to surge and claim its rightful place in the cryptocurrency market.
At the time Coinbase announced its intentions for ETC, the price spiked from $12.89 and exchanged at $17.19. Besides, the crypto has maintained the high levels, although its upper movements have been capped below $20.00 for now. Coinbase is the largest exchange in the United States; this means that Ethereum Classic volume is bound to rise significantly when trading commences in “a few months” as written in the announcement. The price is also expected to surge breaking barriers on the upside.
Many people in the cryptocurrency industry are not aware that Ethereum Classic is the original Ethereum. It is the protocol that was not forked to reverse the balances after the hack. It has stayed committed ensuring the highest level of scalability, governance, and adaptability. Lately, it has its focus on immutability, sidechains, and IoT.
Ethereum Classic (ETC) is currently trading at $16.7. The upside seems limited below $17.40 in the past few days, although it is supported at $16.40 and $15.60 respectively on the downside. It is the 15th largest crypto project with a market capitalization of $1.7 billion. ETC has a trading volume of about $206 million in the last 24 hours while 103,328,305 ETC coins are currently in circulation.