Ethereum Classic has fallen sharply in the price, what will happen next?

The Ethereum-Ethereum classic is on the headlines of the crypto-currency world for quite some time.

Ethereum Classic is a decentralized platform that runs on smart contracts, mostly Dapps. They are programmed without the possibility of centralization, fraud or interference by third parties.

Crypto-currency markets, as usual, were in a bearish trend last week, and for the last seven days ETC suffered very much from it losing 22% of its value. Currently, ETC occupies 15 place in the list of digital currencies, while having a total capitalization of about 2,9 billion US dollars and a daily volume of 705 084 000 US dollars. At the time of writing, the price of one ETC token is 29,59 US dollars.

The largest markets of Ethereum Classic are Bithumb (18,28% of trading volume) and OKEx (16,46% of trading volume). It reached a positive peak in the amount of 39,01 US dollar 24 February, but at the moment the coin has a negative price trend.

What's next?

At the moment, many Blockchain still needs improvement, Ethereum Classic has made great strides in this regard. They have different perfectly functioning wallets, for example – Emerlad Wallet, a simple DNS-like system. However, much more remains to be done. But we can assume that in the near future the coin will begin to stabilize and such a drop should not be observed.

Author: Andrey, analyst Freedman Club Crypto News

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