• ETC developers team announced two significant updates.
  • ETC/USD broke above SMA50 weekly for the first time since August 2018.

Ethereum Classic developers have released  Astor testnet update to make the network resistant to 51% attack. Astor is based on ECIP-1059 and uses SHA3 or Keccack256 cryptographic signature. 

“SHA3 Mining on Astor Testnet has begun! My 2 CPU miners are currently putting out a combined 435,000 hashes per second. A remarkable performance from SHA3 – a true mark of quality,” Alex Tsankov tweeted. 

He also said that SHA3 protocol would ensure transparency and allow for equal opportunity to the miners around the globe.

In a separate development, the team behind  Ethereum Classic announced the last call before a major Atlantis upgrade. ETC Core Developers are supposed to finalize the update today during a conference call. They will have to either accept or reject Atlantis (ECIP-1054) which is in the last call state.

Meanwhile, Ethereum Classic (ETC) has gained over 10% in recent 24 hours and hit $8.89 during early Asian hours, which is the highest level since November 2018. By the time of writing, ETC/USD retreated to $8.5, though the upside momentum remains strong as long as the coin stays above $8.00.

ETC broke above SMA50 (Simple Moving Average) on a weekly chart for the first time since August 2018. If the price manages to settle above this barrier, the long-term technical picture will improve significantly with the next focus on $10.00. Once it is cleared, the upside is likely to gain traction and take the price to $13.00-$13.20 (23.6% Fibo retracement for the significant downside movement from all-time high).

ETC/USD, weekly 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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Opportunity in Bitcoin for bargain hunters

First, the strong bullish move yesterday by Bitcoin, which gained more than $1,000 in 60 minutes. The movement has placed the BTC/USD pair above all major moving averages and opens the door to further rises in the absence of relevant resistance.

More Bitcoin News

Ripple’s XRP recovery from April lows marks the beginning to breakout

Ripple has dived massively from the recent highs. The breakout above both the 50 Simple Moving Average (SMA) 1-D and the 100 SMA 1-D propelled XRP past critical hurdles. For the first in 2019, the price exchanged hands above $0.5. 

More Ripple News

Litecoin market overview: LTC/USD oversold and ready to bounce

Litecoin is showing signs of exhaustion from the downtrend experienced from the beginning of July. Recovery to June highs around $146 has been impossible with the path of least resistance having an affinity to the south.

More Litecoin News

Ethereum 2.0 January 3, 2020 launch date remains unconfirmed

The Ethereum ecosystem is preparing for what is known as the biggest milestone for the network, Ethereum 2.0. The new protocol is still in the development stages and researchers have recently told the community that it is possible that there will be a delay in the launch.

More Ethereum News

Bitcoin Weekly Forecast: bulls lick wounds after major sell-off

The cryptocurrency market has lived through a dreadful week as Bitcoin(BTC), and all major altcoins crashed below several important support levels. 

Read the weekly forecast