With the meteoric rise of Ethereum (ETH) in 2021, the ability to ‘catch up’ of Ethereum Classic (ETC) seems possible. Diversifying cryptocurrency trading with ETC as an alternative to ETH is an optimal choice for investors who have been and will intend to invest in Ethereum.
On May 18, ETC (Ethereum Classic) was trading for $89, while ETH (Ethereum) was up to $3,407. It can be seen that, with a cheaper price, ETC is a superior choice to own Ethereum that investors should consider switching. In terms of features and structure of the Ethereum Classic (ETC) coin, there are some differences compared to other cryptocurrencies, but the most important is still buying in large quantities and owning a lot of cryptocurrencies with low price less costly payments. In terms of arbitrage performance, as of May 2021, the price of Ethereum (ETH) has increased by 367%. Besides, the results of the tally on the floor Yahoo Finance The end of 2020 also shows the ETH price ending at $730.37. As of May 18, it was at $3,407. That shows that the value of ownership has increased 4.67 times compared to the end of December 2020, equivalent to an increase of 267%. According to the data of Yahoo Frinance, c We should look at the net worth of ETC at the end of 2020 at $5.70. This means that ETC has increased by 15.64 times (equivalent to a performance of 1,464%). It is clear that the above indicators have shown that Ethereum Classic has significantly outperformed Ethereum, equivalent to an increase of 1,464% compared to 367%. That’s 4x better performance. Ethereum Classic is up 1,464 percent compared to ETH’s 367%, which translates to four times the performance. Photo: Internet. Outstanding Features of Ethereum Classic Ethereum Classic (ETC) is a cryptocurrency created and developed from the Blockchain technology of Ethereum (ETH) after the DAO fund of Ethereum investors was hacked which stole more than 50 million USD. From the moment it was created, Ethereum transactions have been running on the Ethereum Classic Blockchain platform until it is done.” hard fork” then these two blockchains officially operate separately. The result of the split process due to the policy adjustment but the project development participants did not agree and a batch “fork” is the split among crypto developers that took place in 2016. Ethereum Classic still carries the same features as Ethereum such as the implementation of smart contracts and distributed applications. Ethereum Classic has similar specifications to Ethereum such as average block time, size, and block reward. Ethereum Classic has a circulation limit of 210 million tokens, which is different from Ethereum’s unlimited issuance. According to the Coinmarketcap , ETC was issued 116.3 million tokens, representing 55.4% of the total expected. The circulating supply of Ethereum Classic reaches 50% and is likely to be “squeezed” by the number of tokens like Bitcoin – as the double mining difficulty caused Bitcoin’s price to surge earlier this year. Photo: Coinmarketcap. As predicted by technology experts, ETC’s token is similar to a tight squeeze like Bitcoin (BTC) in the near future. Bitcoin had 18.7 million tokens issued out of a total of 21 million, or 89% of the total. Since less than 11% of all Bitcoins currently available can be mined, there is a marked increase in production rate pressure on investors once the price rises as with Bitcoin. At the end of 2020, Ethereum Classic Labs allowed ETC holders to gain access to the DeFi (decentralized finance) market. They introduced “Wrapped ETC” (WETC), which allows ETC holders to “stake” their tokens. This is where they agree not to trade tokens for a specific period of time and in return receive interest payments in “Wrapped ETC”. In fact, it’s the same way a certificate of deposit works at a bank. WBTC allows users to transfer their tokens from one Blockchain to another, extending the utility of the token to work across multiple networks. Easy migration brings greater liquidity to the Ethereum ecosystem including decentralized exchanges (DEXs) and financial applications. What to do with Ethereum Classic? Some see the Ethereum Classic (ETC) token as a way to make money faster on the Ethereum Blockchain platform. The current market cap is $10.3 billion and that of Ethereum (ETH) is $395 billion. So the value of ETC is only 2.6% of ETH. Assume that, ETC achieves a market cap of $39.5 billion (10% of ETH). At that point, ETH will be boosted by at least 50%, which equates to an ETC market cap of $60 billion (10% of $600 billion). Equivalent to the growth rate of ETC is 600% compared to 50% of ETH. Let’s say it’s going to take us three years for this to happen. That implies a gain of 482.5% over three years representing a very attractive return on investment (ROI) rate for investors. That’s 90x faster than ETH’s 50% gain. ETC-USD is likely to ‘catch up’ and grow 90 times faster than ETH-USD over the next three years. Photo: Tygia.vn Given the meteoric rise of Ethereum (ETH) this year and ETC’s ability to “catch up” seems possible. Therefore, many investors in Ethereum should think of diversifying crypto trading by buying more ETC as an alternative to ETH.
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