Ethereum Classic (ETC) - what is going on?
Hello our dear crypto family.
Not expected gains on ETC? Impatient?
Let's take a look closer basing on technical analysis first.
Market is ranging - we made 25% profit since mid April
Here is short description of what ETC is (for those who are new here):
ETC is one of two separate versions of Ethereum's Blockchain, the other being Ethereum itself. The split occurred after The DAO, a decentralized autonomous organization based on Ethereum, got hacked in June 2016, and $50 million worth of its funds were stolen. Because The DAO was crowdfunded, this event has resulted in a large number of people losing their stakes. After several weeks of heated debate, the community has decided to conduct a "hard fork" of Ethereum's Blockchain in order to "code" the stolen money back to its owners. In order to perform the hard fork, the majority of the users had to simultaneously take all the transaction records prior to the point of the hacking, and start anew from there, while discarding all transactions which have happened after that, including the hackers'. That doesn't mean that anything has happened to the previous version of the Blockchain - on the contrary, the hardfork resulted in two versions existing simultaneously: Ethereum -7.91% , which is the new one, and the old one, which was renamed Ethereum Classic.
ETC is in top 20 in terms of market cap. Backed by very good developers team as well as community. Devs are rated on 81% on coingecko and they have over 200k followers on Twitter (for comparison Eth has 400k)
We are going to have couple of events and good information regarding ETC. Here is the list:
24.05 ETC is hard forking in May to remove the difficulty bomb.
31.05 Working prototype of Sidechain & Enable new Opcodes for compatibility with ETH
31.05 Radex will be the first decentralized exchange to be launched on ETC blockchain (BIG THING)
30.06 PoC of new StateDB layer & Emerald Mobile Wallet
13.07 At block height #6100000t. Each ETC holder receives ETE in the ratio of 1:1 for free (PRICE WILL DEFINITELY INCREASE)
31.07 Sidechains support in Emerald Project & Emerald SDK First Release
31.08 JIT Compilation in SputnikVM
30.11 Fully IoT-compatible infrastructure of ETC (BIG THING)
Thank you for all comments, likes and messages. Don't forget to follow us.
Huge hugs!
WBM Team
Not expected gains on ETC? Impatient?
Let's take a look closer basing on technical analysis first.
Market is ranging - we made 25% profit since mid April
- Volume Weighted Average - very useful indicator to be combined always with Simple Moving Average - VWA is above SMA which is healthy and
positive. Price chart is above them two which confirms good trend. We have a convergence on price and VWA and SMA - GOOD.
- Both MACD and Volume Weighted MACD show postive convergence so it is again healthy sign.
- Let's jump to our recently favourite indicator - Weis Waves - unfortunately no big candles and a bit small volume. But it is not too bad. As we
can see there more green candels, green candels appear more often so presumably we can expect coininuing (slow?) growth. Waiting for more
candles with hopefully explict direction. Keep follow us for further updates on ETC
- Moreover as we expect the new airdrop in mid July (listed below), we stay positive about ETC price in mid term.
Here is short description of what ETC is (for those who are new here):
ETC is one of two separate versions of Ethereum's Blockchain, the other being Ethereum itself. The split occurred after The DAO, a decentralized autonomous organization based on Ethereum, got hacked in June 2016, and $50 million worth of its funds were stolen. Because The DAO was crowdfunded, this event has resulted in a large number of people losing their stakes. After several weeks of heated debate, the community has decided to conduct a "hard fork" of Ethereum's Blockchain in order to "code" the stolen money back to its owners. In order to perform the hard fork, the majority of the users had to simultaneously take all the transaction records prior to the point of the hacking, and start anew from there, while discarding all transactions which have happened after that, including the hackers'. That doesn't mean that anything has happened to the previous version of the Blockchain - on the contrary, the hardfork resulted in two versions existing simultaneously: Ethereum -7.91% , which is the new one, and the old one, which was renamed Ethereum Classic.
ETC is in top 20 in terms of market cap. Backed by very good developers team as well as community. Devs are rated on 81% on coingecko and they have over 200k followers on Twitter (for comparison Eth has 400k)
We are going to have couple of events and good information regarding ETC. Here is the list:
24.05 ETC is hard forking in May to remove the difficulty bomb.
31.05 Working prototype of Sidechain & Enable new Opcodes for compatibility with ETH
31.05 Radex will be the first decentralized exchange to be launched on ETC blockchain (BIG THING)
30.06 PoC of new StateDB layer & Emerald Mobile Wallet
13.07 At block height #6100000t. Each ETC holder receives ETE in the ratio of 1:1 for free (PRICE WILL DEFINITELY INCREASE)
31.07 Sidechains support in Emerald Project & Emerald SDK First Release
31.08 JIT Compilation in SputnikVM
30.11 Fully IoT-compatible infrastructure of ETC (BIG THING)
Thank you for all comments, likes and messages. Don't forget to follow us.
Huge hugs!
WBM Team
