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Ethereum Classic Price Prediction 2023-2031: Is $ETC Going Up?

Ethereum Classic

Ethereum Classic Price Prediction 2023-2031

Ethereum Classic (ETC) is one of the oldest cryptocurrencies that still has maintained its place among the top altcoins as it has reached a market cap of over $6 billion and trades on all major exchanges. The coin’s popularity has piqued investors’ interest; therefore, many people look for the accurate Ethereum Classic price prediction. However, some associate Ethereum Classic with risks.

The Merge will shift Ethereum to Proof of Stake, but it will not expand network capacity. Therefore, it will not impact the price of gas fees. Ethereum should become greener, leaving Bitcoin as the only major blockchain that still relies on Proof-of-Work. According to the Ethereum Foundation, Ethereum’s energy consumption will be reduced by 99.95% following The Merge.

However, the Merge will transfer the entire transaction history; those digital assets will be accessible in the same way as before. Ethereum Classic isn’t planning to follow Ethereum’s switch to a different mining model. The Ethereum merge will switch the blockchain to a more sustainable Proof-of-Stake system.

Ethereum Classic’s price is skyrocketing as Ethereum miners throw their weight behind the old ways. So, what’s the verdict here? Should you buy ETC and use the Ethereum Classic price prediction to find your way?

Ethereum Classic has been up over 60% in the past seven days and over 150% in September, according to CoinMarketCap data. That’s far better than both Bitcoin (BTC) and Ethereum (ETH), and makes it the best-performing project in the top 50 cryptos by market cap last July.

At a recent conference, the man behind Ethereum, Vitalik Buterin, said that people who didn’t want to switch to proof-of-stake would find a welcoming community with Ethereum Classic. “If you don’t like proof-of-work you should go use Ethereum classic, it’s a totally fine chain,” he said. This has widely been reported as an endorsement of ETC.

Today’s Ethereum Classic price is $19.37 with a 24-hour trading volume of $94,721,541. Ethereum Classic is down 2.05% in the last 24 hours. The current CoinMarketCap ranking is #23, with a live market cap of $2,673,659,760. It has a circulating supply of 138,063,286 ETC coins and a max. supply of 210,700,000 ETC coins. Ethereum Classic is 88.68% below the all-time high of $176.16.

Here’s a note: Market cap just doesn’t show actual money. So much Dogecoin has been lost forever that the market cap is a fraction of what is shown. Bitcoin also has quite some losses too, with an estimated 3.6 million dead coins. If exchanges would reveal how many coins are actually bought and sold at which prices, that would be more useful. Or qualify them by TRUST scores.

Scroll below to see why there’s never a dull day in crypto!

Also Read:

Ethereum Classic growing bulk – an interesting development

Ethereum Classic follows Bitcoin in gains as it has accumulated 0.78% gains over the last 24 hours of 7 March 2022. However, Ethereum Classic, compared to Ethereum, has a lower value. The seven-day performance shows that ETC shed 11.66%. The current price for Ethereum Classic is estimated to be $26.65.

Ethereum Classic Price Prediction 2023-2031: Is $ETC Going Up? 1

Ethereum Classic price forecast Source: TradingView

Ethereum Classic saw a 150% rise in its trading volume over the last 7-days. A movement that was in sync with the increasing current circulating supply of the coin, which flew upwards by 2.56%, thereby resulting in the circulating supply crossing the 134.7 million mark. Currently, the live market capitalization stands at $2.89 billion, with a ranking of #32.

If we take a peek at the market cap of Ethereum Classic, it is estimated to be $3,555,272,274. The 24-hour trading volume shows hope for this coin as activity has grown. Its value has grown to $389,907,192.The circulating supply of this coin is 133,400,747 ETC.

ETC was created due to a split in the developer and user community, just like with Bitcoin and Bitcoin Cash. Ethereum Classic is one of those coins that remain in the market even after several other coins cease to exist. Therefore, it becomes necessary to have an Ethereum Classic price prediction and know what benefits it may give you.

What is Ethereum Classic?

Ethereum Classic coin was created in July of 2016 due to a split in the Ethereum community after the original blockchain got hacked. Fundamentally, the two blockchains – Ethereum and Ethereum Classic were similar at first. The history of this crypto is definitely valuable.

Ethereum Classic is a hard fork of the source platform Ethereum which occurred in 2016 after the hack of the Ethereum-based Decentralized Autonomous Organization (DAO). The community got split into two opposing camps, and the same happened to the project as well. 

Over time, differences arose as the Ethereum classic network community wanted to keep the blockchain running on a Proof-of-Stake consensus algorithm and secure blockchain immutability. The Ethereum community wanted to develop it into a much advanced, proof-of-stake-based digital currency.

Few people understood the concept of division in the initial stages, and the Ethereum Classic prediction remained at a lower level. The hard fork coin is more of a protocol rather than a store of value like gold. Ethereum Classic’s current market status is being compared to gold, despite the overall crypto market facing a broad sell-off in the past week.

For those investors who wanted to exit the DAO, the so-called “Split function” exposed an enormous loophole in the whole system. Instead of simply requesting a refund, the hacker launched a recursive function that repeated the request before the initial transaction was registered on the blockchain.

Overview 

Halving Events

Ethereum Classic’s total supply is hard-capped at 210,700,000 ETC as of December 2017. Similar to Bitcoin having reward halving, Ethereum classic reduces its block reward by 20 percent every 5,000,000 blocks.  At every halving event, updating the Ethereum Classic prediction is necessary. This is applicable to every cryptocurrency out there.

Ethereum Classic works on the Proof-of-Work protocol and has great potential owing to the Nakamoto Consensus mechanism. Recently, Ethereum Classic reduced the block reward for mining each block from 4 ETC to 3.2 ETC. The Ethereum Classic prediction became more optimistic due to the halving event as the coins left to mine lowered down. Therefore, Ethereum Classic price has become more similar to Bitcoin’s price in some aspects than its original source – Ethereum. People have always compared Ethereum Classic price and functionality to that of Ethereum, the latter winning every time.

Today, we can see that the Ethereum Classic price rise has slowed down, and the coin even fell behind the original Ethereum, which the Ethereum Foundation runs. Ethereum trades with a much larger market capitalization and has gained much larger popularity. However, Ethereum Classic is still trendy and can be purchased on practically every cryptocurrency exchange. Therefore, let us have a look at the Ethereum Classic price prediction.

Developments affecting the price

Digital assets manager, Grayscale Investments, recently announced that its Ethereum Classic Trust is now an SEC reporting company. With this move, ETC joins the list of investment vehicles from the world’s largest digital asset manager. A list that also includes Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Digital Large Cap Fund. The functionality differences increase over time, creating large price and capitalization size differences. However, the Ethereum classic is still one of the good coins to diversify your cryptocurrency market investment portfolio and avoid high risks.

In the last 48 hours, sometime in May 2021, Ethereum Classic has registered a new all-time high as it moved past the $175 mark to settle at around $197. On looking at its price movement in the last few days, Ethereum Classic appears to have outdone most of the top crypto coins. This bullish momentum has seen the crypto asset safeguard a spot for itself among the top 15 most significant cryptocurrencies in the market.

What could be the secret for a cryptocurrency trading from $35 in late April to $110 on 5 May? Well, the secret is the sudden market interest in Ethereum, Ethereum Classic’s pricier sibling, and social media attention. At the moment, amateur investors are confusing Ethereum with Ethereum Classic hence the sudden uptrend. Others prefer the crypto coin due to its inexpensive cost compared to its costly sibling. Could this happen again?

Should you invest in Ethereum Classic?

When comparing the Ethereum blockchain vs. Ethereum classic blockchain, the difference can’t be clearer. We can see that Ethereum has performed substantially better than the Ethereum Classic price over the past years. Price, as a well-performing factor, fuels its increased usage among users, pushing vendors and service providers to widen their accepted deposit methods and add Ethereum. For example, price predictions show that it will equate to and even overseed the usage of Bitcoin in iGaming deals. Should you sell Ethereum Classic and buy Ethereum instead?

Ethereum Classic has also been in shambles as the expectations regarding Bitcoin’s rise to $100K have turned to fears of stability at $40K. Previously, the growth of Bitcoin was expected to bring stability to other coins, including the Ethereum Classic, but it didn’t happen. As a result of this change, there has been a continuous decline seen in the case of many coins.

Despite the ongoing difficulties for the market, there are chances of a market revival. If you buy the dip, there are chances that you might feel fortunate to have bought Ethereum Classic. As Bitcoin makes further gains, there are chances that the Ethereum Classic might also cross $50. The rise of this currency depends on a rally and stability in its value.

What’s the Hoskinson Vendetta?

More drama unfolded two months ago as Charles Hoskinson fired the next salvo in his long-running vendetta against the Ethereum Classic community, who he still feels did him an injustice by refusing his proposal to create a treasury and pay his development team (IOHK) from the proceeds.

https://etherplan.com/2021/06/01/ethereum-classic-treasury-response-to-charles-hoskinson/15909/

Since then Charles has been in control of the Ethereum Classic Twitter handle, which he has refused to return to its community, despite their requests. ETC proponents say that is because of personal spite and pettiness, while Charles says that it’s his property and he can do what he wants with it. He sees it as a personal memento of his time at ETC.

In a recent Twitter exchange, he was called out for still sitting on this Twitter handle, despite having left the community many years ago, which seems to have caused things to finally boil over:

https://preview.redd.it/csv779vtuas91.png?width=1188&format=png&auto=webp&s=1970a98b0394b6dde5f06b1258fd2a659239e94e

Charles’ response was to let everybody know that this was a deliberate and malicious act, not an accident. Unfortunate but reflects more poorly on Charles than it does Ergo. 😬

ETC Price History

Analyzing its performance for the past week shows that Ethereum Classic has fluctuated from $30 to lower values. The reason for this fluctuation is the ongoing situation of market instability due to geopolitical crises. Ethereum’s classic price has shed more than $4 in a single week, which shows how it has been through hard times. As the market continues to be bearish, there are chances that the Ethereum Classic price might not be able to get the desired gains.

Ethereum Classic Price Prediction 2023-2031: Is $ETC Going Up? 2

Ethereum classic current market status Source: CoinMarketCap.com 

Ethereum Classic Technical Analysis

According to the current Ethereum Classic price movement, Ethereum Classic is trading in a horizontal pattern. Though there is a clear bearish momentum in the market, the Ethereum Classic price is still ranging within a tight $19.49 and $26,76 range. This trading condition could continue for some days before we see any uprising trend in prices.

The technical analysis indicates Ethereum Classic fell sharply. It is currently trading at $20.89.However, it appears that the price is starting to stabilize as it has been range-bound between $19.49 and $26,76 over the last few days. If this continues, we could see a major breakout in Ethereum Classic prices soon. In order to capitalize on this potential breakout, traders can wait for the price to break out of either $19.49 or $26,76 and then buy on the breaks with a stop below the broken trend line. Alternatively, we could see some short-term profit-taking after the recent big move higher.

Ethereum Classic Price Prediction 2023-2031: Is $ETC Going Up? 3

The moving averages show a convergence in the short term. It indicates that the current trend could be nearing an end, as buyers and sellers are starting to reach a balance. To capitalize on this situation, traders can buy Ethereum Classic when it starts trading above the 20-day EMA and sell below its 50-day SMA. Alternatively, they could wait for a breakout above either $19.49 or $26,76 before placing their trades with a stop below the broken trend line.

In conclusion, Ethereum Classic is showing strong potential for growth in the near future as buyers are starting to take charge of the market while sellers have backed off. However, we could see some short-term profit-taking and consolidation after the recent breakout.

Ethereum Classic Price Predictions by Cryptopolitan

Ethereum Classic price action in the previous months of 2022 was positive. It hit a peak of $49.3 in April and has been oscillating around the mark ever since, with occasional dips to $21 or so, but overall staying within the range. This is generally seen as healthy price action for ETC, which indicates that consolidation is taking place before any major upswing takes prices higher. Looking ahead, we expect ETC to trade in the range of $18.50-$26 for some time before prices start rising again. We could see ETC breaking out from this range late next year, but we are not sure how high it might go at this point. The general trend is still positive, so we can expect further bullish momentum if the current favorable conditions persist.

Ethereum Classic Price Prediction 2023-2031: Is $ETC Going Up? 4
Ethereum Classic Price Prediction 2023-2031: Is $ETC Going Up? 5

Ethereum Classic Price Prediction 2023

Our Ethereum Classic price prediction for 2023 is a maximum price of $34.70. The coin’s lowest price is expected to be $29.68, and the average trading price of the coin is $30.71. The influx of manageability features through the DAO with other powerful ad campaigns can boost Ethereum Classic

Ethereum Classic Price Prediction 2024

Our Ethereum Classic price prediction for 2024 is a maximum of $50.91. The coin’s minimum price is expected to be $45.30, and the average forecast price of the coin is $46.84.

Ethereum Classic Price Prediction 2025

According to our ETC price prediction for 2025, the coin’s maximum price is expected to be $78.32. The minimum price of ETC in 2025 according to our forecast is $68.88 while the average Ethereum Classic price would be $70.75.

Ethereum Classic Price Prediction 2026

Our Ethereum Classic price prediction for 2026 is a maximum of $118.50. The minimum price the coin will have by the end of 2026 will be $95.34 while its average trading price is expected to be $98.88. The growth will be enabled by the continuous growth of the ETC tokens, the Ethereum Classic network, and its ecosystem.

Ethereum Classic Price Prediction 2027

Our Ethereum Classic price prediction for 2027 is a maximum of $167.10. The minimum price the coin will have in 2027 according to our forecast is $148.32 while its average price forecast would be around $152.27 by then.

Ethereum Classic Price Prediction 2028

Our Ethereum Classic price prediction for the year 2028 is a maximum of $251.18.The lowest price the coin will have in 2028 according to our forecast is $206.72 while its average trading price is expected to be around $212.81.

Ethereum Classic Price Prediction 2029

Our Ethereum Classic price prediction for the year 2029 is a maximum of $369.00. The minimum price the coin will have by the end of 2029 according to our forecast is $306.74 while its average price is expected to be around $315.25 by then.]

Ethereum Classic Price Prediction 2030

Our Ethereum Classic ETC price prediction for 2030 is that Ethereum Classic could skyrocket, and its highest price could reach $522.56. The lowest price of the coin is $449.87. The average trading price of the coin is expected to be $462.48.

Ethereum Classic Price Prediction 2031 

According to our Ethereum Classic coin price prediction for 2031, the coin’s maximum price is expected to be $781.53. The minimum price of ETC in 2031 according to our forecast is $686.89 while the average Ethereum Classic price would be $705.39.

Ethereum Classic Price Predictions by Digital Coin Price

Digital Coin Price is bullish on the coin and has given a very optimistic Ethereum Classic price prediction of $ 24.84 by the end of this year. By 2025, they expect the value of ETC to reach as high as $88.43, which is more than double our current price forecast!

Digital Coin Price also expects Ethereum Classic to be part of a bullish market-wide trend in the next few years, which should push its value up even further. If everything goes as planned, Ethereum Classic could be one of the most profitable cryptocurrencies in the long run.

Ethereum Classic Price Predictions by Changelly

Changelly is a price prediction website that uses a complex mathematical algorithm to predict the future performance of ETC. Based on their forecast, you can expect Ethereum Classic prices to be as high as $34.70.The website is bullish on ETC future prices and predicts that Ethereum Classic will more than double its value in the next few years:

Ethereum Classic Price Predictions by WalletInvestor

WalletInvestor is a crypto prediction website that has developed an accurate algorithm that is used to predict the future value of ETC. Based on their forecast, Ethereum Classic could decline to a minimum price of  $ 13.436 by the end of this year. Wallet Investor states that Ethereum Classic will continue to decline in value in the coming months and years.

Ethereum Classic Token Price Prediction by Industry Influencers

Cilinix Crypto Youtube channel’s latest update on Ethereum Classic suggests that the coin has potential despite breaking below the $28 support. The support levels dropped lower to $24 – $25, which, when reached ETC, will potentially surge to the $30 mark in the next bull run.

He comments that ETC has had little news, with the only development being the migration of POW miners from ETH to ETC. ETC is also facing competition from the new Ethereum POW, which has more updates despite having a small community.

The October price outlook is bullish.

YouTube video

Conclusion

As big institutions increasingly threaten incoming blockchain tech, only truly decentralized cryptocurrencies will survive the wild ride. Ethereum Classic has proven its ability to resist censorship against all the odds and to deliver the original Ethereum vision of robust applications. By combining the Ethereum technology with the philosophy of BTC, ETC is uniquely positioned to be the Smart Contract Platform of the future, as other chains are captured by special interests and become compromised.

Ethereum Classic has a lot of potential and is considered as one of the most profitable cryptocurrencies for long-term investments. Due to its unique technology and continuous development, ETC is expected to grow even more in the next few years and could reach new heights.

Ethereum Classic’s past performance is not a guarantee of future results. However, it has consistently grown in price and value over the years with an investment portfolio that is worth millions today. In addition, Ethereum Classic also has a very active community that actively supports the coin. Thanks to the loyal and tech-savvy community, the coin is expected to reach new heights in the next few years.

ETC is, however, set to face competition from Ethereum POW, which is verified by POW miners who were phased out by the Merge. Ethereum POW will steal part of ETC’s market share with a growing community. There’s also the other possibility of ETH miners migrating to ETC. Wear the shoes that fit, that’s a common principle shared by the community,

The Ethereum Classic forecast shows that crypto coins will hit an ATH in 2027. Negative news and market crashes could, however, derail Ethereum Classic’s performance in the cryptocurrency market.

ETC crypto analysis and prediction are not investment advice; the cryptocurrency market prices are highly volatile.

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FAQs

How is Ethereum Classic (ETC) better than Ethereum?

Applications on Ethereum Classic have been operating uninterrupted for a year longer than on Ethereum™, making ETC the longest-running and most reliable Smart Contract Platform. More importantly, Ethereum Classic has never and will never stop or interfere with Smart Contracts deployed to it, as unstoppability is what makes blockchains useful and valuable.

Unlike Ethereum, Ethereum Classic has no plans to convert to a Proof-of-Stake (PoS) mining algorithm, while multiple developers continue to work on future improvements such as scaling solutions. Consider to conduct more research on this and others when investing in complex instruments in the cryptocurrency market.

How to buy ETC?

Acquire a wallet for holding ETC
Locate your ETC Address 
Identify a suitable exchange for trading ETC
Transfer the funds into your wallet

Where to buy ETC?

Exchanges that let you buy Ethereum Classic include Binance, OKEx, and Huobi Global. Learn more details here.

What's the difference between Ethereum Classic (ETC) and Ethereum?

ETC's younger, albeit weightier sibling, Ethereum™, a project that once shared the same principles, after only a year, had split away, rebooting a new chain with new rules, going down a new path, and explicitly disavowing Code is Law. To understand what happened, we must reflect on Ethereum Classic's shared history with Ethereum™ and revisit the incident that led to ETC's genesis.
ETH is a powerful example of what the Ethereum community can accomplish when it comes together to solve a problem. At the same time, ETC is considered an insult and an attack on the Ethereum community. ETH is backed by Enterprise Ethereum Alliance (EEA) which aims to use smart contracts in Fortune 500 companies (and more).

Unlike Ethereum, Ethereum Classic has no plans to convert to a Proof-of-Stake (PoS) mining algorithm, while multiple developers continue to work on future improvements such as scaling solutions. Consider to conduct more research on this and others when investing in complex instruments in the cryptocurrency market.

Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

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