Swap Ethereum Classic (ETC) Instantly

Though Ethereum Classic came into existence as a result of the Ethereum fork in 2016, it has a special place in the crypto community due to the principles followed by the team. 2017 marked the beginning of a bull run which continued throughout the year. During this period, Ethereum Classic price rose from a dollar to $47.77, an all-time high. Correction took place in the next two years and the price retreated to $4 by the end of 2019. Ethereum Classic Price touched double digits in February 2020 but the bears were quick to hit the market and resulted in a price drop to $4 in March. By mid-2020 Ethereum Classic price was just above $6.

A bullish prediction suggests that Ethereum Classic price will be $95 by 2025. Another analysis predicts that ETC price will be just around $10 at the same time. Speaking of 2030, it is too early to predict as the project is still in its early stages. Nevertheless, technological developments and an increase in the usage of smart contracts will lead to an increase in the value of Ethereum Classic.

Ethereum Classic is an open-source, decentralized blockchain that was split from Ethereum. Ethereum Classic is capable of handling smart contracts and Dapps. The origins of Ethereum Classic can be traced back to 2016 when Ethereum initiated the Decentralized Autonomous Organization (DAO), a venture capital fund that was supposed to fund Dapps. A hacker identified a loophole in its code and attacked the chain which resulted in a loss of $50 million. The community proposed a hard fork to restore the lost funds and adopt new rules. A few of them were against the hard fork as it contradicts the immutable nature of the blockchain.

Despite the divide in opinion, the chain was forked and big names like Vitalik Buterin and Gavin Wood migrated to the new chain. The new chain overtook the name Ethereum and ticker ETH. People who opposed the fork stayed with the old chain and renamed the chain to Ethereum Classic with the ticker ETC. It is the only event where a split took place based on philosophical values. Ethereum Classic abides by the “Code is Law” principle and till today did not alter the way the platform works.