It has been a while since people actively discussed Ethereum Classic in a rather positive spotlight. The most recent 51% attack against this network has seemingly caused a lot of lingering unrest, even though the problems have been addressed for some time now. Thankfully, it would appear the Ethereum Classic price is moving up ever so slightly once again. Continuing this trend over the weekend would send a pretty bullish signal, all things considered.
Ethereum Classic Price Momentum is Surprising
There have always been some interesting trends taking place where Ethereum Classic is concerned. More specifically, this fork of Ethereum seems to go through presumed pump-and-dump cycles on a rather regular basis. Ever since the 51% attack earlier this year, those cycles have been oddly absent from the equation. It is an interesting development, although also another clear sign the crypto bear market is still in full effect as of right now.
Over the past 24 hours, there have been some notable, albeit still minor Ethereum Classic price changes. Following a 2.45% gain in USD value and a 1.76% gain over Bitcoin, one ETC is valued at $4.37 once again. It also appears ETC is pushing toward the 0.00122 BTC level, although there is still a way to go until that level can be reached. The coming weekend will prove to be very crucial in this regard, although no one knows which way the momentum will swing exactly.
Although there seems to be a lot of attention on Ethereum Classic Vision, it is pertinent to note this fork has nothing to do with Ethereum Classic itself. Instead, it is a fork of Ethereum which will seemingly take some elements from both existing versions of the Ethereum chain. It should never be confused with ETC or ETH, as it is clearly designed to do its own thing. Moreover, there are still some concerns this project is a scam first and foremost.
Ethereum Classic Vision is fork of the Ethereum leverages the best of both worlds-a true decentralization Ethereum Classic and sophisticated protocols developed for the ETH, as PoS and Sharding.#ETH #ETC #ETCV #Bounty #Fork #Ethereum #PoS #Airdrop
— Follow help #20k (@yulianitia1) January 25, 2019
According to the colleagues over at Huobi Research, Ethereum Classic is gaining a bit of traction on the Reddit platform. It is currently the second-most discussed cryptocurrency on that platform, which seems to confirm some excitement is brewing. It remains to be seen if that will affect the price in any shape or form moving forward. After all, community engagement and price changes are not necessarily correlated these days.
Today 5 word mentioned most on Reddit: 1.#bot 2.#wallet 3.#china 4.#government 5.#fiat
Cryptocurrency discussed most on Reddit today: 1.#btc 2.#etc 3.#nano 4.#eth 5.#xrp
See more data: https://t.co/Cu7brG8RoH
— Huobi Research (@Huobi_Research) January 25, 2019
Last but not least, the lack of any real Ethereum Classic-related excitement makes users create some funny images along the way. Donald McIntyre shared an interesting meme in this regard, as it seems ETC isn’t doing much of anything right now. There is no real market movement, no attacks, nor any internal quarrels. While everything seems to be in order on the surface, it is also quite boring for onlookers at this time.
— Donald McIntyre (@TokenHash) January 25, 2019
Although the Ethereum Classic value seems to approach the $4.5 level, this will not happen if Bitcoin were to turn bearish once again. With this much uneasy momentum affecting all markets, the weekend will either be spectacular or incredibly boring. Either outcome will spark its own form of social media buzz, although it remains to be seen what the future has in store for Ethereum Classic exactly.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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