Ethereum Classic Spikes 17%, Leaves Bitcoin, Ethereum Trailing: What's Going On?

Ethereum Classic ETC/USD shot up nearly 17.3% to $31.67 over 24 hours leading up to early Thursday morning.

ETC rose alongside other major coins as the global cryptocurrency market cap rose 5.1% to $1.8 trillion.

See Also: Best USDC Interest Rates

The Ethereum Classic Factors

• ETC was seen trending on Stocktwits at press time, suggesting popularity with retail investors.
• The 24-hour ETC trading volume rose 95.7% to $696.57 million, according to data from CoinMarketCap.
• Coinglass data showed that $2.82 million worth of ETC futures were liquidated in the preceding 24 hours as the coin spiked.
• Ethereum Classic hashrate declined 3.32% to 24.902 Thash/s, according to data from BitInforCharts.com.

Cheaper Ethereum Play 

Ethereum Classic, which inherited the original Ethereum blockchain after a hard fork in 2016, has been known to spike in tandem with Ethereum as it is seen as a cheaper play. At press time, Ethereum was up 5.1% over 24 hours.

ETC Domain Buzz 

HebeSwap, a decentralized exchange on ETC, said that a large number of Ethereum Classic domains have been claimed.

The third day of the month and a large number of #ETC domains have been claimed already. Get your own #HENS name on the #EthereumClassic blockchain before it is claimed.

HENS https://t.co/tZ6d987CJJ#ETCArmy $ETC $HEBE pic.twitter.com/p35CUOT2pJ

— HebeSwap (@BlockHebe) May 3, 2022

USDT On ETC

In a separate tweet, HebeSwap said that its developers are building a bridge from BSC-BUSD to ETC-USDT.

Our developers are building a bridge from #BSC-BUSD to #ETC-USDT. That means that soon you eill be able to have #USDT on ETC.😃 It should be noted that this is the online exchange bridge of #HEBE team and not real-time.#EthereumClassic #ETCArmy $ETC $HEBE pic.twitter.com/QZZs66GVDV

— HebeSwap (@BlockHebe) May 4, 2022

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Photo: Courtesy of ETC on Flickr