Categories: Ethereum

4 Reasons Why Ethereum Classic Is Soaring — Up 40% This Week

Click here to view original web page at cointelegraph.com

Ethereum Classic (ETC) price has surged 40% this week on several bullish news stories, according to data from Coin360.

Over the past seven days, ETC price has climbed from around $5.50 to roughly $7.30 by press time. It now sits in the number sixteen spot by market capitalization between Chainlink (LINK) and DASH.

Ethereum Classic 7-day price chart

Ethereum Classic 7-day price chart. Source: Coin360

Here are some news stories that have likely turned traders bullish, at least for the time being.

Atlantis Fork next month

The Ethereum Classic so-called Atlantis Fork is scheduled for next month. It is expected to occur on Sept. 13, after members and developers came to an agreement that the hard fork will happen at block 8,772,000.

As Cointelegraph reported, the Atlantis hard fork is meant to improve security while taking into account the community’s concerns.

It is also considered to be a no-rush update that will ensure the compatibility of ETC with Ethereum, making it easier to collaborate with sibling blockchains. The team also intends to improve the functionality and stability of ETC, which is especially relevant, as the network had experienced a 51% attack last January.

North Block Capital joins ETC Labs Studio Program

Yesterday, London-based token investment group North Block Capital also joined the Studio Program of blockchain developers organization Ethereum Classic Labs (ETC Labs).

ETC Labs shared the news in the official blog on Aug. 22. Together the companies will reportedly co-create various comprehensive token sale initiatives for North Block Capital’s clients and partners.

ETC Labs announced the new Studio Program on Aug. 8. The organization is apparently aiming to support new projects and crowdsales based on the ETC blockchain through this initiative. ETC Labs also stated that it will offer both technical and marketing expertise.

Terry Culver, the CEO of Ethereum Classic Labs, remarked that ETC’s Core group development team will be supporting North Block Capital, which he regards as a leader in blockchain initiatives. He said:

“North Block Capital has an impressive history of driving innovative projects forward and leading the advancement of blockchain companies [...] We are excited to partner with them and support their projects with our Core dev team and be at the forefront of fostering blockchain companies and technology. It is a great fit for ETC Labs and the Studio program allows us to quickly address the technical needs of their projects.”

Expansion into Asia

Additionally, ETC Labs will reportedly help North Block Capital conduct token sales and marketing initiatives in the Asian market. As previously reported by Cointelegraph, Blockstack PBC CEO and co-founder Muneeb Al recently commented on the appeal of entering the Asian market, saying that “Asian countries have arguably the most significant penetration for both crypto users and developers.”

ETC Summit in October

The annual Ethereum Classic ETC Summit event is scheduled for Oct. 3-4 in Vancouver, Canad. It is not unusual for cryptocurrencies to rise in price in the run-up to an industry event or conference. ETC price, in particular, is no different and has shown to rise in previous years prior to this event.

The conference will cover a range of topics spanning development, IoT, cross-chain interoperability, market dynamics, smart contracts, social issues surrounding blockchains and more.

Over the past seven days, ETC price has climbed from […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama
Tags: ethether

Recent Posts

Tom Lee: Another Big Leap for BTC Is Coming

Well, it looks like Tom Lee is back in the news, and when you really think about it, why shouldn’t… Read More

5 hours ago

Graeme Moore Publishes Bitcoin Book for Kids

A new book has emerged to teach children about bitcoin. Known as “B Is for Bitcoin,” the book shows children… Read More

5 hours ago

Key Technical Indicator Signals Bitcoin is Gearing Up for a Big Move

After inching higher yesterday, Bitcoin faced a somewhat strong rejection at just above $10,400, which has brought the cryptocurrency down… Read More

5 hours ago

Day Trading is a Great way to get Rekt, Study Finds

Making money in the financial or cryptocurrency world isn’t as easy as one might think. The volatility of Bitcoin and… Read More

5 hours ago

Bitcoin Is ‘The Most Extraordinary Bubble of Our Generation’ Says Trader

The next bitcoin bull market is only getting started, analyst claims. | Source: Shutterstock Bitcoin is up by almost 180%… Read More

5 hours ago

The Story Behind ‘B is for Bitcoin,’ an ABC Book for Kids

While writing B is for Bitcoin , an ABC children’s book about cryptocurrency, author Graeme Moore had an epiphany—children don’t… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More