Could Including Ethereum Classic [ETC] In Your Portfolio Help You Earn More In 2022?

2022-05-18 | Selina Mathew

Could Including Ethereum Classic [ETC] In Your Portfolio Help You Earn More In 2022?


Since its schism, Ethereum Classic has been eclipsed by Ethereum, particularly because its creators concentrated their efforts on the latter. In order to improve efficiency, Ethereum is now transitioning from a proof-of-work consensus mechanism to a proof-of-stake consensus mechanism. In the meanwhile, Ethereum Classic will continue to use the PoW consensus algorithm. This may appeal to consumers, developers, and NFT producers that favor PoW, and this group of people will keep ETC demand high.

The fact that ETC was one of the first cryptocurrency exchanges adds to its attractiveness. The latest catastrophes, particularly the LUNA and UST disasters, have exposed a wave of dubious crypto ventures.

ETC was trading at $21.25 at the time of writing, down 1.23 percent in the previous 24 hours. Nonetheless, this appeared to be a little rebound from the previous low of $16.02. Its price tag was last that low in April 2021. The current low is down 69 percent from its peak on April 29 and more than 80% from its record high.

Because of its significantly discounted pricing, ETC is already trading at an appealing level in the event of another surge. It has marginally recovered after falling into the oversold zone, but it is still inside a good accumulation zone. The steep discount on Ethereum Classic may entice investors searching for tried-and-true cryptocurrencies, of which ETH is one.


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