Ethereum Classic token price just broke out of a downtrend and is currently testing support at $15 while battling its 20-day and 50-day moving averages (MA) in an attempt to gain upward momentum. $15 was successfully tested before breaking out of this downtrend, and doing so again could help it beat the moving averages and start upward momentum. Technical indicators suggest that Ethereum Classic price will struggle to rise much in the near future.
# Ethereum Classic has a deep-rooted relationship with Ethereum, the world’s second largest cryptocurrency. This relationship, especially in nominal terms, makes many people skeptical, meaning Ethereum Classic price predictions can vary widely.
Here, we will look at the factors that will affect the price of Ethereum Classic in the near and distant future, looking at the impact that technical indicators, long-term industry trends, and shifts in social opinion may have on it.
| Potential low price | Meal average budget | Potential high price | |
| 2024 | $15 | $48 | $100 |
| 2025 | $120 | $210 | $387 |
| 2030 | $520 | $690 | $860 |
The Ethereum Classic blockchain was forked after the Ethereum chain forked due to irregular state changes due to a hacker attack in July 2016. The original chain’s token underwent price discovery on two exchanges on July 20, 2016, and Ethereum Classic price data on CoinMarketCap dates back to July 24, 2016, when it debuted at $0.7523.
Since its launch, Ethereum Classic’s price action has closely tracked the price of its sister chain Ethereum, reaching $176.16 in May 2021, despite a slight increase at its inception in August 2016. record high. Notably, before The Merge was launched on Ethereum in September 2022, the price of Ethereum Classic climbed from $14.20 to a high of $41.59 before falling back to around $15 by the end of 2022.
Throughout 2023, the Ethereum Classic token price has fluctuated widely between $15 and $23. Starting the year at $15.69, Ethereum Classic is trading at $15.03 at the time of writing.
As the Bitcoin halving event will occur in April 2024, a cryptocurrency bull run is expected in 2024. Historically, Bitcoin prices have been rising steadily before the Bitcoin halving event, and the price has continued to rise significantly since.
Since the rest of the market often tracks the price of Bitcoin, their prices also follow this trend. In fact, during the bull run, the start of which coincided with the last Bitcoin halving, Ethereum Classic hit an all-time high price of $176.16.
With no roadmap, it’s difficult to tell what will happen with Ethereum Classic, which creates problems for Ethereum Classic price predictions. However, unlike other coins that often have roadmaps and face scrutiny and uncertainty when they lack one, Ethereum Classic has never had a roadmap, so it has experienced less price pressure.
The price of Ethereum Ethereum Classic is being watched closely and will begin testing a sharding-related scaling upgrade called Proto-Danksharding. It is expected to be implemented in 2024. If this goes as planned, it could push the price of Ethereum higher, with Ethereum Classic following suit. Ethereum Classic will upgrade its blockchain with these upgrades 3-6 months after launching on Ethereum.
With all this in mind, our predictions for Ethereum Classic price in 2024 are optimistic, by the end of the year The price could be $48, with a psychological zone high of $100 and a low (mainly early in the year) of $15.
With Ethereum Classic tracking the price of Ethereum over the long term, we can take a look at the Ethereum Price Prediction and take a look at the Ethereum Classic Crypto What happens to currency prices.
If the bull run starts with the Bitcoin halving in 2024, we can expect it to continue until 2025, at which point the coin may start releasing new ATHs . Historically, Ethereum Classic has closely followed Ethereum’s all-time highs, sometimes even setting new all-time highs before Ethereum itself.
With Ethereum cementing itself as the #2 cryptocurrency and becoming the most popular proof-of-stake coin and deflationary asset over the past year, we can expect it to hit all-time highs in the next bull run .
Our forecast for Ethereum growth going forward is 120% at all time highs, and our Ethereum Classic price prediction for 2025 is that Ethereum Classic will post a high price of $387. With this, we can expect a low of $120 and a median price of $210.
Many factors can influence the Ethereum Classic Price Prediction for 2030, with the potential adoption of the cryptocurrency being one of the biggest factors at this time. If a move toward mass cryptocurrency adoption does occur, it would be great news for all cryptocurrency markets.
If you add in the shift towards decentralization due to a lack of trust in centralized entities, then Ethereum Classic could be a huge winner.
As explained in the following section, Ethereum Classic is the original, untampered Ethereum. This means that due to Ethereum’s history, moving away from centralized entities may lead to a lack of trust in Ethereum, thereby improving the image of Ethereum Classic.
Since Ethereum Classic loosely follows Ethereum's roadmap, upgrading the chain 3-6 months after its sister chain with many of the same upgrades - to maintain compatibility - we can see dApps and use cases migrate to Ethereum Classic because of the highly familiar operating environment, bringing in their users and increasing demand for Ethereum Classic.
However, we also need to consider the public’s unfavorable perception of proof-of-work blockchain from the perspective of global climate change. All of this is definitely going to develop before 2030, and it doesn't seem like it's going to get any better. This could allow Ethereum Classic to decouple from Ethereum price and start charting its own course in the market.
With all of this in mind, our price prediction for Ethereum Classic in 2030 is that it may head towards or even make new all-time highs, with a high of $860 and a low of $520, with a median price of for $690.
Ethereum Classic positions itself as an asset and network with all of the features of Ethereum Utility, but history is different. Although a completely different coin and network, it does track the price of its sister Ethereum very closely. When making Ethereum Classic coin predictions, we must consider what is happening with Ethereum.
With that in mind, here’s a summary of our Ethereum Classic price predictions.
| year | Potential low price | Average meal budget | Potential high price |
| 2024 | $15 | $48 | $100 |
| 2025 | $120 | $210 | $387 |
| 2030 | $520 | $690 | $860 |
Cryptopolitan predicts that the Ethereum Classic price will reach $50.94 in 2025 and $317.96 in 2030. They also predict a high of $705.99 in 2032.
hiddenwinger
Changelly exchange blog predicts that Ethereum Classic will reach a high of 317.93 by the end of 2030, with an average price of $237.65.
Changelly
On the other hand, Wallet Investor offers a highly bearish sentiment in its Ethereum Classic price prediction, predicting until 2028 It will lose nearly 99% of its value in October and is worth $0.195.
Wallet Investor
Coincodex predicts that Ethereum will reach highs of $33.57 and $34.98 in 2025 and 2030, respectively. Highs will be $74.29 in 2024 and $100.97 in 2028, thanks to the Bitcoin halving in those years.
Coin Code
On Traders Union, Ethereum Classic price predictions are modest, with prices in 2025 and 2030 at $20.54 and $33.14.
Traders Alliance
Many people are wary of “Ethereum Classic” when they first see it, inferring from its name that it is a reference to the world’s second most popular blockchain, Ethereum.
However, Ethereum Classic is not a rip-off of Ethereum, and many people consider Ethereum Classic to be the “real Ethereum”. How can this be?
The Ethereum blockchain was founded by the Ethereum Foundation in 2015 as a platform that supports the mantra that code is law, meaning that code is law The results of on-chain operations are unchangeable. This mantra was shattered in 2016, nearly a year after Ethereum was created, when a controversial hard fork was implemented to save money from hackers, the so-called DAO hack.
The content of a hard fork varies widely, but essentially a hard fork is an event that causes a change in the blockchain code such that it is no longer compatible with older versions.
Most hard forks are conducted as organized and well-debated network upgrades without much controversy. As a result, the majority of miners, node operators, and/or pool operators will upgrade to the new software, the fork will successfully change the network code, and a chain will emerge running the new consensus.
However, if there is a dispute over the philosophy or practical purpose of the fork, it can lead to a split in the community, and, if strong enough, when the hard fork is initiated, some communities will follow the fork, but not the other side Continue to use the old software. This creates two chains that share the same history before the hard fork but are incompatible and on different trajectories after that. Ethereum and Ethereum Classic are good examples, as is the Bitcoin/Bitcoin Cash hard fork in 2018.
After the hard fork event, everyone believed that there was only one chain, the forked chain, and that the hacker's funds were returned to the DAO and redistributed to those who contributed to the crowdfunding. The Ethereum Foundation, which initiated the fork and has ownership of the Ethereum brand, named the fork Ethereum, the popular Ethereum we know today.
Everyone thought that was it, that the unchanging or "original" chain would disappear. However, some miners continue to support the original chain. The chain’s token quickly gained price discovery on two exchanges and was dubbed Ethereum Classic by those in the market.
Therefore, Ethereum Classic is a continuation of the original, unaltered Ethereum chain. Its history has been undisturbed to reverse bugs in DAO smart contracts because the Ethereum Classic community believes that code is law.
In April 2016, The DAO was proposed by a group that included many members and former members of the Ethereum Foundation, and received support from the Foundation. The DAO is a proposed crowdfunding venture capital fund designed to invest in new projects on Ethereum.
At the time, it was the largest crowdfunding ever, raising 14% of all ether for a total of $150 million. However, once completed, it was noticed that the DAO project had a buggy smart contract. This bug allowed hackers to drain 30% of funds before white hat (i.e. good) hackers managed to secure the other 70%. In order to obtain the other 30% of funds, protocol level intervention must be used.
A soft fork was proposed and implemented with the consent of the miners, but a bug was discovered in the soft fork code and was rejected. A hard fork was then proposed to return the hacker’s funds to the DAO. After a short 12-hour voting period, the fork was confirmed and then implemented 5 days later.
As one of the biggest events in the history of Ethereum, there are many details surrounding the hacking story. This timeline from Ethereum Classic does an excellent job of explaining the progression of events, while this extensive article goes in depth into the story of the DAO hack and the origins of Ethereum and Ethereum Classic.
The emergence of Ethereum Classic is the result of a decision made by a centralized body that goes against the ideals the organization is trying to promote. As Ethereum Classic emerges from the fork, its focus seems clear: continue to follow the mantra that code is law and decentralization is key.
Therefore, the Ethereum Classic Foundation was created. However, it does not have any control over the project. It is defined as an idea and a source of information on Ethereum Classic - there is no centralized board or advisory group deciding what is best.
In this sense, Ethereum Classic has a similar philosophy to Bitcoin. There is no roadmap, progress is made through community debate, development and community consensus. This has drawn criticism from some because chains operating this way are much slower to develop, but it does help ensure decentralization.
While Ethereum Classic may be philosophically different from Ethereum – it is committed to the code-is-law mantra, restricted supply, and focused on decentralization – it is technically similar to Ethereum.
In fact, until Ethereum moved to a proof-of-stake consensus mechanism in September 2022, these chains were highly similar. Incidentally, Ethereum Classic is committed to Proof-of-Work and has no plans to move to Proof-of-Stake.
Despite this difference in the consensus layer, both blockchains run the Ethereum Virtual Machine (EVM), Ethereum Fangclassic has implemented many of the upgrades already implemented on its sister chains to ensure they are operationally compatible. Ultimately, this allows dApps and smart contracts deployed on Ethereum to remain compatible with Ethereum Classic.
Due to this similarity, there are multiple wallets familiar to many users that support Ethereum Classic, a range of dApps, from DeFi to Metaverse to NFT projects, are built on top of it, as well as many cryptocurrency exchanges and cross-chain bridge support. This means that Ethereum Classic has the same utility and potential as its more famous sister.
| Ethereum Classic | |
| wait | |
| 行 | #29 |
| Price | $15.03 |
| Price change 24 hours | 0.09% |
| Market value | 2,149,431,949 yuan |
| Circulating supply | 143,433,722 etc. |
| 24-hour trading volume | $61m (4,098,485 etc.) |
| Historical High | $176.16 |
| Historical Low | $0.4524 |
Since the price of Ethereum Classic is closely related to the price of Ethereum, it is most significantly affected by the price of Ethereum and what happens there. The merger, Ethereum’s transition away from Proof-of-Work, had an unusual impact on the price of Ethereum Classic, but when Ethereum completes the upgrade, and the price reacts positively, we can expect the Ethereum Classic price to follow it.
The Bitcoin halving event will always have a ripple effect on the entire crypto market; this is expected to continue into 2024 and 2028.
Any public comments about Ethereum Classic will also have an impact on its price. It is worth noting that the Ethereum Classic price increased by 20% in 2022. At that time, at the ETHCC conference in 2022, Vitalik Buterin supported Ethereum Classic, saying: "If you like proof of work, you should go and use Ethereum Ethereum Classic.
There is also the impact of the growing Ethereum Classic ecosystem. As it grows, the utility of the coin grows with the number of people using it. More activity can attract others to join, Thus increasing demand for the coin.
Ethereum Classic has been the victim of multiple 51% attacks throughout its history, affecting its price. In 2020, Ethereum Classic suffered three 51% attacks in one month attack, its price fell 31% from $7.40 to $5.12.
As Bitcoin Declines in 2024 With the halving approaching and scalability upgrades starting to be tested and possibly implemented on Ethereum in 2024, we expect Ethereum Classic to hit $100 in 2024, which is why some savvy investors are already looking to buy now Ethereum Classic.
As the 2024 bull market moves into 2025, we expect a 2025 high of $387 and a median price of $120.
Long-term price predictions depend on many Factors and events that are not even written in the script can still happen. But we expect Ethereum Classic to break new ground in 2030, predicting that it may hit a high of $860.
These are only predictions; whether they come true depends on many factors. Cryptocurrency markets are volatile and are affected by what's happening in many different markets, which means they can also go the other direction and you could lose money.
Ethereum Classic’s close relationship with the #2 cryptocurrency has had an overall positive impact on its existence and predictions of its price, although many people read about it for the first time Be skeptical when it comes to names. Continuing to operate with a proof-of-work consensus mechanism may have adverse effects in the future. However, if decentralization becomes an important part of the conversation, it may be a popular choice since it is compatible with Ethereum.
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