CoinDesk • Sep 15, 22
Ethereum Classic and Ravencoin's Hashrate Nearly Doubles After Merge
Earlier on Thursday, Ethereum switched to PoS, doing away with the need for miners.
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Ethereum Classic
ETC
4.5
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Market
Market stats
Market cap
$2.3B
Volume (24h)
$213.8M
Circulating supply
143.3M ETC
Typical hold time
34 days
Popularity
#20
All time high
$176.16
Price change (1h)
-0.51%
Price change (24h)
-2.91%
Price change (7d)
+5.82%
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Ethereum Classic is on the rise this week.
The price of Ethereum Classic has risen by 5.82% in the past 7 days. The price declined by 2.91% in the last 24 hours. In just the past hour, the price shrunk by 0.51%. The current price is $15.99 per ETC. Ethereum Classic is 90.92% below the all time high of $176.16.
The current circulating supply is 143,320,807.696 ETC.
About
Ethereum Classic is a cryptocurrency with a special focus on immutability, popularly expressed as “code is law.”
What is Ethereum Classic (ETC)?
In July 2016, the Ethereum network experienced a hard fork, creating two separate blockchains: Ethereum (ETH) and Ethereum Classic (ETC). Though it’s sometimes confused with Ethereum, Ethereum Classic is now a totally different cryptocurrency with different technological and philosophical goals, specifically a special focus on immutability, popularly expressed as “code is law.”
Like Ethereum, Ethereum Classic is a decentralized computing system that can run a wide variety of applications. ETC is Ethereum Classic’s native currency, which is used to power transactions and smart contracts on its network.
How does Ethereum Classic work?
Similar to Ethereum and its native unit ETH, Ethereum Classic users pay fees in ETC to execute smart contracts, and you can think of it as the fuel that keeps the whole thing running (which is why those fees are called “gas”). Gas fees pay miners which solve “proof of work” puzzles using sophisticated computers to help verify the network.
A key distinction, however, is that Ethereum is planning to migrate from “proof of work” mining to a new system called “proof of stake.” Ethereum Classic has no such plans, and intends to keep traditional mining on its own blockchain after Ethereum migrates.
Like ETH, new ETC is issued to the circulating supply as a reward for miners as new blocks of transactions are added to the blockchain. Unlike ETH, which doesn’t have a fixed supply, ETC has a maximum supply of 210,700,000 coins.
How is ETC mined?
Powerful computers mine ETC, adding it to the circulating supply. While Ethereum Classic can be mined using widely-available graphics processors, it’s most likely not profitable unless you use an ASIC, a specialized device designed for crypto mining.
After Ethereum Classic’s fork from Ethereum in 2016, Ethereum Classic has struggled to compete in terms of market capitalization, developers, and network security as measured by total mining power. Over its history, Ethereum Classic has been subject to numerous “51% attacks” in which malicious actors control a majority of the mining power and were thus able to spend coins they didn’t actually own (also known as a double spend attack).
How do I buy ETC?
You can buy, send, and receive ETC via exchanges like Coinbase.
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Ethereum Classic Calculator
How much is 1 ETC?
Conversion Table
ETC/CAD (Canadian Dollar)
CA$21.91
ETC/GBP (British Pound)
£13.23
ETC/JPY (Japanese Yen)
¥2,382.27
ETC/INR (Indian Rupee)
₹1,330.71
ETC/BRL (Real)
R$82.05
ETC/EUR (Euro)
€15.31
ETC/NGN (Nigerian Naira)
NGN 12,253.40
ETC/KRW (South Korean Won)
₩21,765.58
ETC/SGD (Singapore Dollar)
S$21.95
Reading List
News
The Block • Sep 14, 22
Ethereum Classic hash rate shot up by 200% over last 30 days
Ethereum Classic’s hash rate has surpassed 64 terahashes per second (TH/s), having grown more than 40% in September ahead of The Merge.
Read more
CoinDesk • Sep 07, 22
First Mover Americas: Bitcoin Now Below $19K as Merge-Fueled Ethereum Classic Hype Unwinds
The latest price moves in bitcoin (BTC) and crypto markets in context for Sept. 7, 2022. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Read more
Decrypt • Sep 07, 22
Ethereum, Ethereum Classic, Lido Finance Plummet on Eve of Merge
Various merge-related cryptocurrencies have plummeted in the past 24 hours as investors prepare for Ethereum's biggest upgrade yet.
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Decrypt • Aug 26, 22
Miners Eye Ethereum Classic Activity as Merge Nears
The hash rate of ETC hits an all-time high, which reduces the risks of a "51% attack."
Read more
CoinDesk • Jul 29, 22
Ethereum Classic Almost Triples, MATIC and UNI Surge as July Brings Relief to Crypto Market
Ethereum classic's rally is consistent with its record of rallying around major Ethereum upgrades, one observer said.
Read more
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FAQ
What is the current price of Ethereum Classic?
We update our Ethereum Classic to USD currency in real-time. Get the live price of Ethereum Classic on Coinbase.
What is the market cap of Ethereum Classic?
The current market cap of Ethereum Classic is $2.29B. A high market cap implies that the asset is highly valued by the market.
What is the all time high of Ethereum Classic?
The all-time high of Ethereum Classic is $176.16. This all-time high is highest price paid for Ethereum Classic since it was launched.
What is the 24 hour trading volume of Ethereum Classic?
Over the last 24 hours, the trading volume of Ethereum Classic is $213.75M.
What other assets are similar to Ethereum Classic?
Assets that have a similar market cap to Ethereum Classic include UNUS SED LEO, Wrapped Kava, Stellar Lumens, and many others. To see a full list, see our comparable market cap assets.
How many Ethereum Classic are there?
The current circulating supply of Ethereum Classic is 143 million.
What is the typical holding time of Ethereum Classic?
The median time that Coinbase customers hold Ethereum Classic before selling it or sending it to another account or address is 34 days.
What is the relative popularity of Ethereum Classic?
Ethereum Classic ranks 29 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
What is the current trading activity of Ethereum Classic?
Currently, 97% of Coinbase users are buying Ethereum Classic. In other words, 97% of Coinbase customers have increased their net position in Ethereum Classic over the past 24 hours through trading.
Can I buy Ethereum Classic on Coinbase?
Yes, Ethereum Classic is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Ethereum Classic guide.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.