Ethereum Classic, now the 20th largest digital asset with the current market value of $560 million, has gained over 7% in recent 24 hours to become the best-performing coin out top-20. An average daily trading volume jumped to $650 million, demonstrating strong trading activity. ETC is most actively traded against BTC at a cryptocurrency exchange Coineal focuses on Asian region with branches in China, Japan, Korea, Vietnam among others. 

What’s going on

At Devcon, ETC Labs announced a new partnership with gitcoin,  SWARM and bloqinc to improve collaboration between ETC and ETH communities. 

“ETCLabs is committed to greater collaboration between the Ethereum Classic and Ethereum communities. ETH and ETC share history, DNA, values, and increasingly, technical functionality. While ETC will remain as a Proof of Work (PoW) chain, there are ample opportunities to work together,” the company said in the press-release.

The company confirmed its commitment to creating high-quality technology to address fundamental issues. The team is also looking for innovative ways to help to solve ETH  scalability issues.

ETC/USD, the technical picture

ETH/USD retreated from Wednesday’s high of $5.30 and settled at $5.0 by the time of writing. The coin is supported by the middle line of one-day Bollinger Band at $4.90; however, once it is cleared, the sell-off is likely to gain traction with the next focus on $4.40 (  the lower boundary of the recent consolidation channel) and psychological $4.00 supported by the lower line of one-day Bollinger Band.

ETC/USD, the daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Chart Analysis: Symmetrical triangle breakout to power BTC/USD above $9700

BTC/USD has charted a symmetrical triangle breakout in the last hour, opening doors for a test of the pattern target at 9746. Despite the bullish breakout, its likely to remain an uphill task for the bulls to achieve the target, given a bunch of healthy resistance levels. 

More Bitcoin News

XRP/USD: Path of least resistance appears to the downside

XRP/USD is struggling to extend its recovery beyond 0.20 on Saturday, as the bulls remain in a wait-and-see for the fourth straight session. While extending the range play, the bears are seen fighting back control, as suggested by the near-term technical set up.

More Ripple News

BCH/USD: Bulls eye $280 amid falling wedge breakout

Bitcoin Cash (BCH/USD) is consolidating the latest uptick to a daily high of 257.50, having recovered losses following a dip to 253.47. The No. 5 coin has charted a bullish breakout on the hourly chart. The bulls look to extend the upside break to $280.   

More Bitcoin Cash News

Crypto Market Update: Ethereum outperforms its main rivals on the road to recovery

Crypto bulls are trying hard to extend the recovery on Saturday. Ethereum outperforms Bitcoin and Ripple, looking to settle the week with 4.50% gains. The top 2 widely traded coins are poised for additional upside.  

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC/USD needs to go down again before it goes up

After a head-spinning volatility at the beginning of the week, BTC/USD settled above $9,600 with minor gains on a week-on-week basis. A shall Doji candle on a weekly chart is an alarming signal that the bulls are exhausted by uncertainty and large price swings. 

Read the weekly forecast