Ethereum Classic ETC/USD spiked over 3% in the early hours of Wednesday even as other major coins like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) fell.
| Time-frame | % Change (+/-) |
|---|---|
| 24-hour | 3.2% |
| 24-hour against Bitcoin BTC/USD | 5.6% |
| 24-hour against Ethereum ETH/USD | 5.5% |
| 7-day | 18.4% |
| 30-day | 8.4% |
|
YTD performance |
-7.6% |
See Also: Ethereum Vs Ethereum Classic
Why It’s Moving? Ethereum Classic swam against the tide and was among the few major coins that traded higher at press time as the global cryptocurrency market cap decreased 1.05% to $2 trillion.
The current appreciation in ETC appears to be brought about by the upcoming Mystique upgrade, which is due to be activated on Feb. 13.
Mystique Activates on @eth_classic Mainnet in ~8 days!
— ETC Cooperative (@ETCCooperative) February 5, 2022
~39.5% of live #EthereumClassic node are ready to rock.
Stay updated with our live network node tracker:https://t.co/7txYJrO5tO
Read all things Mystique below:https://t.co/bf7hu71VnV
#etcarmy #etc $etc #ethclassic pic.twitter.com/YEg0oJuBJ7
Mystique would enable outstanding Ethereum Foundation London network protocol upgrades on Ethereum Classic’s network so as to ensure maximum compatibility across networks.
Notably, Ethereum Classic traded higher at a time when Ethereum trended on both CoinMarketCap and CoinGecko price tracking websites.
Ethereum Classic was not among the most discussed coins on Twitter, according to Cointrendz data.
The three most discussed coins at press time were Bitcoin, Shiba Inu, and Ethereum. They attracted 11,287, 7,393, and 4,427 tweets respectively.
Major coins, including Ethereum, saw prices plunge on Tuesday as macroeconomic factors once again gained prominence and the dollar gained strength.
The Relative Strength Index of ETC stood at 60 on Tuesday, which is an indication that the coin has more buyers entering the market, according to Benzinga's Tyler Bundy.
ETC is the inheritor of the original Ethereum blockchain after a contentious hard fork took place in 2015. Last year there were instances when ETC rose as it was seen as a “cheaper” Ethereum play by investors.
Ethereum Classic Chatter: The project linked to Ethereum Classic retweeted a post from Digital Currency Group founder and ETC bull Barry Silbert on Tuesday.
Silbert, said, “There is literally never a dull day in crypto.”
There is literally never a dull day in crypto
— Barry Silbert (@BarrySilbert) February 8, 2022
Read Next: How Feds' Seizure Of Bitcoin Has Led To A Massive Rally In This Cryptocurrency
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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