• Ethereum Classic network experienced another massive attack 51%.
  • ETC/USD holds the ground despite the hack attack.

Ethereum Classic (ETC) is changing hands at $6.68, down nearly 2% since the start of the day. Despite the retreat, the coin is still in a green zone on a day-to-day basis amid strong bullish sentiments amid the altcoins market. ETC now takes the 30th place in the global cryptocurrency market rating with the capitalization of $775 million.

The third attack 51% in a month

The Ethereum Classic blockchain suffered the third attack 51% in a single month. According to the mining pool operator Bitfly, hackers managed to take over the network and reorganize more than 7,000 blocks, which is equal to two days of mining. 

Today another large 51% attack occurred on the #ETC network which caused a reorganization of over 7000 blocks which corresponds to approximately 2 days of mining. All lost blocks will be removed from the immature balance and we will check all payouts for dropped txs, they tweeted on Sunday, August 30.

While many industry players questioned the credibility of the network, ETC holds the gound and value, which is remarkable under present circumstances. However, several larger cryptocurrency exchanges, including OKEx, have already threatened to delist ETC due to security reasons. 

ETC/USD: The technical picture

On the intraday charts, ETC/USD dropped below 1-hour SMA50 amid the sell-off during early Asian hours. The next local support is created by 1-hour SMA100 located on the approach to $6.50. Once it is out of the way, the downside momentum is likely to gain traction with the next focus on psychological $6.00. On the upside,  a sustainable move above $6.8 is needed for the upside to gain traction. If this is the case, the price may regain $7.00 and recover the recent losses. 

ETC/USD 1-hour chart


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended content


Recommended Content

Editors’ Picks

HYPE drops 6% amid Eyenovia plans to establish Hyperliquid treasury

HYPE drops 6% amid Eyenovia plans to establish Hyperliquid treasury

Hyperliquid (HYPE) sustained a 6% decline on Tuesday despite Nasdaq-listed Eyenovia's (EYEN) announcement that it entered a securities purchase agreement to offer up to $50 million of its shares to establish a HYPE treasury.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP dips as US involvement in Israel-Iran conflict looms

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH, and XRP dips as US involvement in Israel-Iran conflict looms

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) prices hovered around key levels on Wednesday after falling the previous day. The crypto market turned risk-averse amid growing concerns that the United States could intervene in the escalating conflict between Israel and Iran. 

Cardano Price Forecast: ADA eyes further losses amid triangle fallout

Cardano Price Forecast: ADA eyes further losses amid triangle fallout

Cardano trades in the red by over 1% at press time on Tuesday, extending its losses from the previous day. Shrugging off the recent announcement of the revised stake pool incentive scheme by Input/Output firm, pressure mounts over Cardano, with optimism in ADA derivatives declining.

Bitcoin falls slightly as Trump calls security advisors to deal with Iran-Israel war

Bitcoin falls slightly as Trump calls security advisors to deal with Iran-Israel war

Bitcoin price declines slightly to around $106,000 on Tuesday following a mild recovery the previous day. Donald Trump leaves the G7 summit early to return to Washington and meet with his national security team.

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin: BTC could slump to $100K amid Trump-Musk tussle

Bitcoin (BTC) tumbled to a low of $101,095 on Friday amid volatility in the market. The effect of the tussle between United States (US) President Donald Trump and Tesla Chief Elon Musk negatively influenced the NASDAQ and Tesla's stock price on Thursday, although both are recovering on Friday.

The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

BTC

ETH

XRP