Ethereum Classic Overview
Ethereum Classic (ETC) often struggles to get attention since its split with Ethereum. Despite this, Ethereum Classic remains a top crypto investment, even hitting new highs in 2021. So, the question now is how much could Ethereum Classic be worth? Let’s take a step back and remind ourselves what is so great about ETC.
ETC Overview
| Cryptocurrency | Ethereum Classic |
|---|---|
| Ticker Symbol | ETC |
| Rank | 28 |
| Price | $19.61 |
| Price Change 24h | 5.15% |
| Price Change 7d | 1.99% |
| Market cap | $2,783,085,438.81 |
| Circulating Supply | 141,931,436.188 |
| Trading Volume | $207,812,299.54 |
After being thrown back into the limelight following an excellent 2021, investors are now asking ‘what is Ethereum Classic expected to reach?’ Well, here’s a quick look.
How likely is it that Ethereum Classic will reach these highs? Read on to uncover Ethereum Classic’s prospects for 2023 to 2030.
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ETC — Ethereum’s Evil Twin Brother?
If you’re familiar with Ethereum (ETH), you may well have strong opinions on Ethereum Classic (ETC). As its name suggests, this open-source blockchain platform maintains the original and unaltered history of the Ethereum network — after a high-profile hack took place in 2016.
Some of Ethereum Classic’s rivals include:
- Binance Coin (BNB)
- Cardano (ADA)
- Avalanche (AVAX)
- Chainlink (LINK)
- Algorand (ALGO)
What’s The Point Of Ethereum Classic?
When the Ethereum Foundation updated its system to a newer version of the Ethereum network to erase the attack and return $50 million worth of stolen Ether, a group of independent users chose instead to stick with the old mainnet. They changed its name from ‘ETH’ to ‘ETC’ and Ethereum Classic was born.
Amongst cryptocurrency enthusiasts, there is often heated debate about whether Bitcoin (BTC) or Bitcoin Cash (BCH) is the strongest asset. Well, Ethereum and Ethereum Classic are no different. By continuing to run the original Ethereum code, the users didn’t just maintain an existing crypto but essentially created a new one. As a result, ETC is often described as a fork of Ethereum even though it technically predates it.
Key differences between Ethereum and Ethereum Classic:
- Ethereum Classic uses — and will continue to use — a proof-of-work algorithm (PoW). The Ethereum 2.0 update, on the other hand, will see the Ethereum network transition to a proof-of-stake algorithm (PoS). In a PoW system, cryptocurrency miners have to solve complex equations using their computers to verify transactions and add them to the blockchain. This process requires vast amounts of energy, contributing to Ethereum’s whopping power consumption. In a PoS system, however, users can simply ‘stake’ their cryptocurrency as collateral to verify their transactions.
- Just as the number of Bitcoin tokens is limited, Ethereum Classic has capped the total number of ETC tokens that can enter circulation. A maximum of 230 million ETC tokens can ever exist, however, there is an infinite supply of ETH.
Who Is Behind Ethereum Classic?
As a decentralised project, multiple teams work on Ethereum Classic’s development — there is no one person or group of people behind Ethereum Classic. Today, at least 14 different teams are working on Ethereum Classic. Changes to Ethereum Classic are voted for via the ‘Ethereum Classic Improvement Proposal’ process.
Former teams included IOHK (Input Output Hong Kong), which is run by Charles Hoskinson, the founder of Cardano.
What Is Ethereum Classic Used For?
So, how exactly does the Ethereum Classic blockchain work? Like the better-known Ethereum, Ethereum Classic is also powered by its native currency, the Ether.
The key difference to remember is that while Ethereum’s Ether is listed on cryptocurrency exchanges under the name ETH, Ethereum Classic’s Ether is listed as ETC. This prevents traders and investors from getting confused between the two. In both cases, Ether tokens are created as a reward for staking/mining (Ethereum Classic is and will remain a proof-of-work cryptocurrency).
As a smart contract platform, a wide range of dApps and other services can be built on top of Ethereum Classic, including NFTs (non-fungible tokens), games, wallets, and exchanges to name a few.
Who Uses Ethereum Classic?
Ethereum Classic has roughly between 15,000 and 40,000 daily active users, according to various sources. In total, there are approximately 94 million ETC addresses, however, do note that some ETC holders will have more than one address. There are also 16,341 ETC addresses on the Binance Chain.
Technical Analysis Of Ethereum Classic’s (ETC) Price Movements
Because Ethereum Classic was created by forking the Ethereum blockchain, ETC did not have an ICO. CoinMarketCap first began tracking the price of Ethereum Classic on the 25th of July 2016 trading at $0.6024. On this same day, Ethereum Classic also reached its all-time low of $0.4524.
Ethereum Classic started 2021 at $5.7043, hit an all-time high of $176.16 on the 6th of May, and ended the year at $34.12. ETC’s 52-week low is $10.85.
Ethereum Classic started 2022 at $34.3 and ended the year at $15.54.
Ethereum Classic Price Chart
ETC/USD price chart. Source: Coinmarketcap
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Expert’s Take On Ethereum Classic Price Predictions
Experts across the web have given rather bullish Ethereum Classic price predictions for the remainder of the 2020s.
“Our Forecast System predicts that Ethereum Classic could possibly increase in value in the short term by +21% to $52.99 from $43.66. The system forecasts a +22% move from $43.66 to $53.37 over the next month, Ethereum Classic has a price prediction of $70.70 in over a [years’] time”.
Coinskid
“Based on our forecasts, a long-term increase is expected, the price prognosis for 2027-03-20 is 175.537 US Dollars. With a 5-year investment, the revenue is expected to be around +303.02%. Your current $100 investment may be up to $403.02 in 2027”.
WalletInvestor
“according to our forecasts, the Ethereum Classic price is going to increase. Now the Ethereum Classic price is $43.470, but by the end of 2023, the average Ethereum Classic price is expected to be $49.094”.
Trading Beasts
“These five years would bring a significant increase: Ethereum Classic price would move from $56.36 to $128.04, which is up 127%. Ethereum Classic will start 2024 at $56.36, then soar to $60.13 within the first six months of the year and finish 2024 at $69.15. That means +59% from today”.
Coin Price Forecast
“Future price of the asset is predicted at $64.381714552016 (65.187% ) after a year according to our prediction system.
This means that if you invested $100 now, your current investment may be worth $165.187 on 2023 March 22, Wednesday”.
Gov Capital
“The price of Ethereum Classic is predicted to reach [a] minimum value of $145.01 in 2025. The Ethereum Classic price could reach a maximum value of $170.37 with the average trading price of $150.02 throughout 2025”.
ICOcreed
“A minimum value of $75.71 is predicted for the price of Ethereum Classic in December 2025. ETC may reach a maximum value of $88.41 in 2025 with an average trading price of $77.72”.
DigitalCoinPrice
“The price of Ethereum Classic is predicted to reach [a] minimum value of $664.81 in 2030. The Ethereum Classic price could reach a maximum value of $807.65 with the average trading price of $683.63 throughout 2030”.
Price Prediction
“As per the forecast and algorithmic analysis, [the] price of 1 Ethereum Classic (ETC) will be around $130.9512 in 2027”.
CryptoGround
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ethereum Classic (ETC) Price Prediction: 2023-2030
As a long-term investment, it projects that Ethereum Classic could perform very well. According to its predictions, the value of the ETC token could rise to $63 by the very end of 2023, rising to $90 in 2024, and achieving a mean price of $250 by 2025.
Our Ethereum Classic price predictions are based on the following key factors and how they could positively or negatively impact ETC in the next eight years.
As you might expect, Ethereum Classic enjoys a not-so-healthy rivalry with its better-known cousin, Ethereum. Some analysts have identified a trend that suggests the success of Ethereum Classic sometimes correlates to the performance of Ethereum — although whether this trend is more positive than negative is often up for debate.
Because both cryptos have been built on similar architecture, the success of one can increase investor confidence. This is because it reassures people that the underlying technology (and original founding team) are performing well. However, it’s not always good news. There is still to this date a degree of public confusion surrounding the differences between Ethereum and Ethereum Classic. This is understandable given the fact that the name ‘Ethereum Classic’ is very misleading and could logically refer to either crypto.
This confusion has the effect of limiting public awareness, potentially directing attention away from ETC and towards ETH. As supply and demand are intrinsically linked to price, less attention means lower demand, and consequently, a lower price.
Upgrades to cryptocurrency platforms are often eagerly anticipated by the investor community. The Emerald Wallet upgrade for Ethereum Classic was no exception.
Designed to address “the lack of a common framework for developers to create dApps on Ethereum Classic, a lack of user interface (UI) components, and standard practices for third-party developers” (according to Ethereum Classic), this upgrade came into effect at the end of 2019. The price of Ethereum Classic rocketed in early 2020 after the upgrade was released.
Taking everything into account, Ethereum Classic can be a good short-term investment (one year) or long-term investment (five to 10 years). Here are our ETC price forecasts for 2023 to 2030.
Ethereum Classic (ETC) Price Prediction 2023
With Ethereum continuing its migration to proof-of-work, in 2023 Ethereum Classic will be ready to onboard dApps that don’t want to make the change.
Improving its image in 2023, more traders will feel more confident investing in ETC. A bullish streak will take Ethereum Classic to an average of between $55.00 and $65.00 in 2023.
As per our Ethereum Classi price prediction for 2023, it is projected that the coin perform so well that the price will reach as much as $52 in June 2023. By the end of the year, it is forecasted that ETC token can rise to $63.44. The minimum price for the end of 2023is expected to be $12.20 while the average price will be $77.43.
Ethereum Classic (ETC) Price Prediction 2024
If things should improve the way we expect, the minimum price of Ethereum Classic in 2024 could be $30.56. Also, steady growth in the first six months of 2023 could see ETC reach $82.54 by mid-2024. The coin is expected to fluctuate but then grow slowly in the last six months of the year and reach $91.09 by the end of 2024, according to our Ethereum Classic price forecast.
Ethereum Classic (ETC) Price Prediction 2025
Ethereum Classic’s growing ecosystem will host a highly impressive variety of applications by 2025.
Ultimately, the price of Ethereum Classic is expected to reach $120.54 by mid-2025. A decent performance in the last six months of the year could see the Ethereum Classic token reach $175.12 per coin. The average price for the year is expected to be in the region of $165.65, as per our ETC price forecast for 2025.
2025 will see Ethereum Classic expand on to several other blockchains to provide more complex services.
Experts' 2025 Ethereum Classic price prediction estimates a high of $350.42, a low of $167.10, and an average target price of $293.46. If all goes well, Ethereum Classic will end 2025 at $270.50. Achieving the average price would mean an increase of 66.58% on top of ETC’s all-time high.
Ethereum Classic (ETC) Price Prediction 2026
Regulation clarity by 2026 will see Ethereum Classic reach further highs. Continuing its upward trend, Ethereum Classic will secure a yearly average of $344.75 by the end of 2026, according to our Ethereum Classic price prediction. The max price ETC will reach in 2026 is $414.27 and the min price will be $307.77.
Ethereum Classic (ETC) Price Prediction 2027
Further technical improvements in 2027 will make Ethereum Classic easier to use for first time users.
As per our Ethereum Classic price prediction for 2027, the ETC coin is expected to reach $465.47 within the first six months. A decent performance in the last six months of 2027 should see the price of the coin rise to $502.23. The average price for the year should be in the region of $512.34. Our Ethereum Classic forecast foresees ETC touching an all-time high of $524.90.
Ethereum Classic (ETC) Price Prediction 2028
By 2028, the DeFi sector will have rampaged to impossible new highs, dragging the rest of the market, including Ethereum Classic along with it. Ethereum Classic will start 2028 at $515.62 and grow to $600 in the first several months. Estimates say ETC will finish 2028 at $610.79 after reaching a low of $590.22 and a high of $688.61, as per the Ethereum Classic price prediction.
Ethereum Classic (ETC) Price Prediction 2029
2029 stands to be the year that large financial institutions begin to invest heavily in Ethereum Classic.
According to our Ethereum Classic (ETC) price prediction 2029, the cryptocurrency should be able to reach $700 by mid-2029. In the last six months of the year, it may grow slightly and reach $787. The average price of the ETC coin should be in the region of $733.08.
Ethereum Classic (ETC) Price Prediction 2030
Adoption and widespread acceptance as a payment method will see 2030 be Ethereum Classic’s best year yet.
After crossing over the $900 milestone for the first time, our Ethereum Classic price prediction 2030 suggests a record top price of $1,091.39 is possible for ETC. If the coin reaches this price, it would mean an increase of 2,409.52% in eight years. Ethereum Classic will also not decline lower than $713.57 and accumulate an average price of $919.78 in 2030.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Conclusion: What Could Ethereum Classic Be Worth?
Our Ethereum Classic price predictions are undeniably bullish. We expect a very strong upward trend for the next several years. Despite this good news, we cannot deny that there are factors beyond our control that could easily decimate the price of ETC.
One of the most worrying is the number of 51% attacks that have happened on the Ethereum Classic network. Back in August 2020, for example, ETC was attacked three times. Thankfully, so far, this issue appears to be somewhat solved, but if it is later revealed that Ethereum Classic is still at risk of attack, investors could flee en masse. Perhaps the best way to counter such attacks in the future is to expand the network by encouraging people to join.
Elsewhere, another major unknown is regulation. Regulation, whether it be good or bad, has the potential to massively disrupt the crypto market. What makes Ethereum Classic slightly more vulnerable is that it still uses a proof-of-work consensus mechanism which regulators seem to disapprove of.
Will The Price Of Ethereum Classic (ETC) Go Up In 2023?
Having started 2023 at around $20, Ethereum Classic is forecast to go up to a yearly high of $77. ETC will not reach a new all-time high in 2023, according to our Ethereum Classic price prediction. Our price prediction for 2023 expects ETC to build on its gains from 2021 and cement new levels of support. Ethereum Classic will not decline lower than $12 in 2023 and will close the year at $63.
What Will Happen To The Price Of Ethereum Classic (ETC) In 2025?
2025 will be a great year for the price of Ethereum Classic with our ETC price prediction forecast to climb above $200 and even $300 for the first time. Ethereum Classic is also not expected to sink below $160.
The chances of Ethereum Classic increasing by 2025 are looking pretty good. The highest estimate for 2025 so far is $350.
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Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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