After the hype phase of crypto in 2017, all indicators are that the next phase of crypto growth will come from real-world usage. At this point, people are more aware of cryptos and want to see what the coins can do. One aspect of adoption that will play a role in driving up crypto values is the payments market. Cryptos that gain adoption in everyday payments stand to increase in intrinsic value going into the future. That’s why things may be looking good for Ethereum Classic (ETC) going into 2019.
This is all thanks to a partnership between Coingate and Changelly that is aimed at making it easier for merchants to accept cryptocurrencies, including Ethereum Classic. Here is what Coingate said while announcing this partnership to the ETC community.
“We at Coingate provide our merchants the way to accept and collect major cryptocurrencies as a payment. So, recently we made a partnership with the exchange provider Changelly. Due to changes, Ethereum Classic community can now use ETC token along other tokens as payment in e-commerce stores that uses the Coingate payment gateway. So, if you ever stumble across one of our merchants, keep in mind that your ETC is always welcome there!”
This is a big deal because, through this partnership, the number of businesses accepting Ethereum Classic will increase. That’s a plus and will add to the intrinsic value of ETC, a crypto that is already on the move. It’s on the move because on top of gaining a foothold in the payments market, Ethereum Classic (ETC) is also a platform blockchain where businesses can build Dapps on.
In this market, Ethereum Classic (ETC) has an edge because it is built on the ideals of true decentralization, which include immutability. Immutability is key to the growth of Ethereum Classic (ETC) because it is central to adoption in most industries where Dapps will become the norm in the future. Immutability is all about the irreversibility of accounts, and this is critical to the adoption of ETC in industries where smart contracts have huge legal and monetary ramifications.
For instance, in the multibillion-dollar real estate industry, the immutable nature of the Ethereum Classic blockchain would come in handy. Immutability also gives it a leg up in voting, another area where blockchain technology could play a dominant role in the future.
With such a multi-faceted use-case, Ethereum Classic (ETC) is in a good position for growth in the future. More short-term, things are looking up for Ethereum Classic (ETC). It is one of the few cryptos that are showing signs of stability, in a day when the crypto market has been largely bearish. It has held above critical support at $9, and there is a good possibility that this level could be long-term support for Ethereum Classic (ETC). Whether the Bull Run comes this year or next year, Ethereum Classic (ETC) has a place, as one of the cryptos that could moon the moment interest in cryptocurrencies returns. It has a realistic chance of hitting upwards of $50 in the future.