ETC - Dead project or Resilient Hold ?Hi Traders, Investors and Speculators of Charts📈📉
The Ethereum Classic fork was a result of a disagreement within the Ethereum community over how to respond to a hack that had occurred on the network. The hack resulted in the theft of 3.6 million ETH. Some members of the community believed that the best way to respond to the hack was to hard fork the blockchain , which would erase the hack from history. Others argued that hard forking would set a dangerous precedent and would be a violation of the principle of immutability .
Those who opposed the hard fork eventually formed the Ethereum Classic community. They believe that the original Ethereum blockchain should be preserved, even with the hack in place. They argue that hard forking is a form of censorship and that it is important to maintain the integrity of the blockchain.
You can't really call that ETC is a dead project, reasons being:
1) It has a strong community of supporters and there is still active development on the project 2) ETC is listed on many major cryptocurrency exchanges
The market sentiment on ETC is mixed. Some people believe that ETC still has potential to become a major player in the cryptocurrency space, while others have shifted focus towards other, newer altcoins. The future of ETC is uncertain, but it's still unreasonable to call it "dead", at least for the time being.
FOUR main things I'd consider with ETC:
📢1) Old bag holders may want to look for the first opportunity to get out, creating strong resistance zones
📢2) At the end of the day, it's a coin that can be traded and most probably will be traded by whales though this kind of behavior is usually very untimely and unpredictable (we observe a similar situation on XRP)
📢3) ETC has a history of security vulnerabilities
📢4) ETC has a limited supply of 210.7 million coins
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
COINBASE:ETCUSD BINANCE:ETCUSDT
