Ethereum Classic (ETC) currently ranks as the top coin in terms of algorithm score, top 10 in terms of daily trade volume and top 20 in terms of market cap. If this was any other coin, you would find posts about it on a number of cryptocurrency news websites on a daily basis, but the reality is that very few people actually read or post about Ethereum Classic (ETC), at least on public forums. There are some private telegram groups and subreddits with a lot of productive discussions and useful information regarding the project. Ethereum Classic (ETC) is also very active on Github. However, mainstream crypto news websites seldom write about this coin. Even when they do, it is mostly about whether Ethereum Classic (ETC) is dead or not dead yet.
Cryptocurrency Influencers on Twitter and Youtube as well as popular news outlets play a key role in narrative building. If they start talking about a coin, its price starts shooting up. However, there are some coins like Ethereum Classic (ETC) and NEM (XEM) that exist as top 20 coins but most cryptocurrency enthusiasts don’t know why. Apart from the lack of media coverage, Ethereum Classic (ETC) is not interested in self promotion itself. We have seen projects like Ripple (XRP) garner plenty of support and recognition mainly due to its aggressive marketing tactics but Ethereum Classic (ETC) has yet to invest in a proper marketing team or plan.
While the Ethereum Classic (ETC) team may not be good at marketing, there is no doubt about their ability to get things done. However, they like to do things without much hype and self promotion which means investors have to go the extra mile and do a little more digging than they would have to do in the case of any other cryptocurrency. Recent Ethereum Classic (ETC) soft fork which diffused the difficulty bomb has made the cryptocurrency even more attractive for miners. As for investors, the price is currently trading around $15.27 in a strong bullish channel on the monthly chart. The RSI is near oversold levels and is currently trading in a falling wedge, a bullish indicator which may result in a series of bullish months for Ethereum Classic (ETC) up ahead.
Ethereum Classic Investment Trust (ETCG) currently trades at $38.50 and is already on a bullish recovery following a steep correction. It is pertinent to note that the price of Etheruem Classic Investment Trust (ETCG) rose to a staggering $70 last month! This is a clear indication of the interest in this cryptocurrency and the price investors are willing to pay if they have safer platforms to invest.
Ethereum Classic (ETC) is currently available to trade on popular exchanges like Binance and Bitfinex but derives less than 10% of its total volume from both of these exchanges combined. The majority of trading volume for Ethereum Classic (ETC) comes from OKEx of Hong Kong followed by Huobi of Singapore both of which account for more than 50% of the total daily trade volume. This goes on to show that Ethereum Classic (ETC) is yet to have a mainstream adoption. The cryptocurrency is rumored to be the first coin to be added to Coinbase given an already existing API support for Ethereum Classic (ETC) on Coinbase.
Ethereum Classic (ETC) is also an institutional favorite at the moment given its reputation as a blue chip crypto (top 20) as well as being an extremely undervalued project. Moreover, Ethereum Classic (ETC) is 40 times smaller than its twin brother, Ethereum (ETH), a market difference that any sensible analyst would find ludicrous! Investors looking to catch the next Bitcoin (BTC) are already busy accumulating Ethereum Classic (ETC). It is also part of the recently created Bloomberg Galaxy Crypto Index (BCGI) which is a market index of ten cryptocurrencies that best define the market at a given time. Ethereum Classic (ETC) is working its way towards mainstream adoption and may see a lot of buying interest in the near future once it is listed on a more ‘convenient’ exchange like Coinbase but right now they don’t want you to buy while the price is dirt cheap and they are busy filling their bags.