Ethereum Classic a Top Performer in 2019 — What’s Going On Behind the Scenes?

By April 10, 2019 Ethereum
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Ethereum Classic (ETC)

Ethereum Classic (ETC), now ranked 17th with a market capitalization of $788 million, has been one of the best performing cryptocurrencies as of late. The uptick has been supported by a global recovery in the cryptocurrency markets as well as a series of positive fundamental developments.

Since the beginning of April, ETC has gained nearly 50 percent and touched $8.00 for the first time since November. It seems that the project has recovered from most of the negative consequences from its notorious 51 percent attack and financial woes that plagued the project at the end of 2018 and continued into the beginning of 2019

Poloniex Launches Marginal Trading for ETC Pairs

The US-based cryptocurrency exchange platform Poloniex extended its margin trading offer. Now all non-US customers can trade ETC against BTC with 2.5 leverage along with XRP, ETH, XMR, STR, FCT, LTC, BTS, DOGE, DASH, MAID, and CLAM, capitalizing on growing market volatility. Notably, Ethereum Classic has become the first coin added to margin trading since the platform acquisition by Circle in 2018.

ETC can also be used for lending, which means that customers can earn interest by lending their ETC coins to other platform users.

Ethereum Classic

Emerald Wallet v1.3.0 Goes Live

The ETCDEV team released an update for the Emerald Wallet with Ethereum (ETH) support. The new version reflects the team’s new vision and contains numerous changes and improvements according to the recent announcement.

Please welcome Emerald Wallet v1.3.0. Now with support of ETH blockchain, and many other improvements. Download at https://t.co/S9UbZnz33b pic.twitter.com/GWGVFyOZqd

— ETCDEV (@etcdev) April 9, 2019

Apart from Ethereum (ETH) blockchain support, the wallet has automatic switching between a local full node and a remote node, improved launch screen, and better Ledger Nano support.

The news has been positive for ETC and appears to be a clear signal that the project is moving on despite its past hardships.

Voyage to Atlantis

In a separate development, Ethereum Classic developers discussed a proposed hard fork called Atlantis, outlined in the Ethereum Classic Improvement Proposal (ECIP) 1054. The recap of the discussion was published by Donald McIntyre, coordinator for matters related to ETC development.

According to McIntyre’s post, the fork will take place on block 8,750,000 and conclusively separate Ethereum Classic from Ethereum’s blockchain. The developers will stay on a proof-of-work (PoW) algorithm, while the code update will not affect mining rules.

Two of the largest mining pools 2Miners and Ethernode have already expressed support for the proposed fork, possibly being the reason for ETC’s most recent boost in price.

Do you believe ETC still has potential? Let us know your thoughts in the comments below.

Images courtesy of Shutterstock, Twitter.

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