Born as a hard fork out of Ethereum (ETH) as triggered by the DAO drama, Ethereum Classic (ETC) could have easily become just another hard fork for the crypto community.
However, Ethereum Classic becomes more than “just another hard fork” alongside with gaining more momentum in several occasions since the beginning of August. Besides from getting support from Robinhood later on having Coinbase announcing support for ETC as well, Ethereum Classic only started to draw in more investors.
Reflecting on its position in the market as well, Ethereum Classic also announced entering the race of the Internet of Things, where IOTA (MIOTA) might be leading the game at the moment with automotive and tech giants like Volkswagen, BMW, and Fujitsu.
Much positive news revolving around ETC brought it to a more benevolent ranking in the market as well, also enticing more interest from new investors and crypto enthusiasts, there are some indications that Ethereum Classic could easily reach either 40$ or 200$ value by the end of the year.
Ethereum Classic (ETC) and the Coinbase and Robinhood Exposure
At the beginning of August, Robinhood platform announced support for Ethereum Classic, which brought Ethereum Classic closer to the US market, having more exposure to the investors from the United States.
Given the fact that Robinhood counts around 4 million active users, ETC had great chances of improving its image in the market, which turned out to be the case only several days later.
Moreover, Coinbase, one of the most popular and biggest exchanges in the market, announced that Ethereum Classic is to get support from Coinbase from August 7th, which brought Ethereum Classic to a wider circle of investors as Coinbase counts around 10 million active users.
This case soon reflected on the price of Ethereum Classic, as it soon surpassed the competition by passing by TRON (TRX) and settling as the 13th largest currency, which might be backed with the addition of ETC to Coinbase, which is considered to be among the pickiest exchange markets when it comes to listings and support.
Even though the market dip was actively affecting the market at the time, Ethereum Classic went on a surge rampage. However, it afterward declined to being ranked as the 15th-largest currency, being valued at the price of around 10$.
With getting more exposure with a total of 14 million potential investors through Coinbase and Robinhood, Ethereum Classic might have a great chance to get back to its all-time high of around 40$ by the end of the year, potentially going above the initial price by breaking the resistance.
Ethereum Classic and the Internet of Things Initiative
While the first sign of bullish return is said to be expected in November or at least by the end of the year for Ethereum Classic, the tea behind ETC has introduced the community to the initiative of entering the Internet of Things industry, which is currently dominated by IOTA (MIOTA) that is already finding IoT use cases with its technology Tangle.
There is a great value summed up within the projects that are related to the Internet of Things, thus the initiative of Ethereum Classic to focus on IoT might bring great victories for holders as well, as ETC might easily rise by 200$ by the end of the year and the beginning of 2019 in case the team presents a solid IoT use case for Ethereum Classic.
Otherwise, it is a more realistically the case that Ethereum Classic will reach the price of 40$, possibly going above towards 50$ from its current price of 10$.
That means that ETC is four times away from the first goal of 40$, making the goal of 200$ more realistic with including the IoT and breaking the resistance of the value of 40$ per one unit.
If it is to judge the price of ETC in 2018 by the way the coin performed during the same period of the last year of 2017, Ethereum Classic should head for 11$ on September 21st, easily scoring 40$ by the end of December and the beginning of January.
Moreover, even though Ethereum Classic now has a potential in the area of IoT, there are still some scalability issues that need to be solved in order to ETC to reach its full potential both in the market and as a blockchain-based project.