Why did the price of ETC go up?

Ethereum Classic (ETC) increased by 1.08% over the past 24 hours, slightly outperforming the overall crypto market’s 0.77% rise. However, this short-term positive momentum contrasts with a nearly 10% drop over the past month. Here are the main factors influencing ETC’s price:

1. Olympia Upgrade Buzz – Plans to burn transaction fees and add decentralized governance (Positive)
2. Bitstamp Exchange Listing – New trading pairs making ETC easier to buy and sell (Positive)
3. Tether’s USDT Phase-Out – Gradual removal of USDT on ETC, reducing liquidity but in a controlled way (Mixed)

In-Depth Analysis

1. Olympia Upgrade Speculation (Positive Impact)

What’s happening:
The Olympia Upgrade, expected by late 2026, aims to burn 80% of transaction fees and introduce on-chain decentralized autonomous organization (DAO) governance. Although still in draft form, recent news has increased expectations that this will reduce the total supply of ETC and improve how the network funds its developers.

Why it matters:
Burning fees can make ETC more scarce over time, potentially increasing its value—similar to how Ethereum’s EIP-1559 upgrade affected its price. The DAO governance plan could solve long-standing issues around funding for ETC developers, which has been a challenge since ETC split from Ethereum in 2016.

What to watch:
Progress on test networks and finalized Ethereum Classic Improvement Proposals (ECIPs) expected by the end of 2025.

2. Bitstamp Listing Momentum (Positive Impact)

What’s happening:
On July 11, 2025, Bitstamp by Robinhood added ETC/USD and ETC/EUR trading pairs. This listing sparked a 20% price rally that month as more retail and institutional investors gained access to ETC.

Why it matters:
Being listed on regulated exchanges like Bitstamp increases ETC’s liquidity and credibility. Currently, ETC’s 24-hour trading volume is $148.8 million, which is about half of its peak volume ($302 million) from mid-July, indicating potential for more buying activity if market sentiment stays positive.

3. Tether’s Strategic Withdrawal (Mixed Impact)

What’s happening:
Tether announced on August 30 that it will gradually phase out USDT stablecoin support on Ethereum Classic, Algorand, and Solana by late 2025. Unlike sudden delistings, this slow phase-out allows the market to adjust.

Why it matters:
Since ETC’s decentralized finance (DeFi) ecosystem is relatively small (less than 1% of Ethereum’s total value locked), the impact on liquidity might be limited. However, cross-chain bridges like WETC could experience short-term pressure as users move their assets elsewhere.

Conclusion

ETC’s recent gains show optimism about its upcoming deflationary upgrade and growing exchange presence, which help offset concerns from Tether’s USDT phase-out. The 200-day exponential moving average (EMA) at $18.64 remains a key support level. The critical question now is whether ETC can stay above $21.50—the resistance level from August 13 that has now turned into support—to confirm a positive trend reversal.

What could affect the price of ETC?

Ethereum Classic (ETC) is navigating a mix of upcoming protocol upgrades and changes in market liquidity.

1. Olympia Upgrade (2026) – New on-chain governance and fee-burning features could increase ETC’s long-term value.
2. Tether’s USDT Exit – Losing stablecoin support might reduce short-term liquidity and trading activity.
3. Altcoin Season Momentum – Growing interest in alternative coins could boost ETC if network security continues to improve.

Deep Dive

1. Protocol-Level Funding & Governance (Positive Outlook)

Overview:
The Olympia Upgrade, planned for late 2026, will introduce a system similar to Ethereum’s EIP-1559. This means 80% of transaction fees will be burned or sent to a decentralized treasury controlled by the community through on-chain DAO governance. The goal is to reduce the total supply of ETC and give the community more control over development.

What this means:
By reducing the number of coins in circulation, ETC could see upward price pressure over time. Plus, decentralized governance might attract developers who want a censorship-resistant platform. Ethereum’s own EIP-1559 upgrade was linked to a strong price increase after 2021, so ETC could see similar benefits.

2. Liquidity Risks from Tether Exit (Potential Downside)

Overview:
In August 2025, Tether stopped supporting USDT stablecoin pairs with ETC (source). This removes a major trading pair that helped keep ETC liquid. Currently, ETC’s daily trading volume is around $149 million, which is much lower than Bitcoin’s $22 billion.

What this means:
Less liquidity can lead to bigger price swings and may discourage traders, especially if other blockchains attract that trading volume. However, ETC’s recent listing on Bitstamp shows that some exchanges still value its proof-of-work (PoW) model, which could help offset some of the liquidity loss.

3. Altcoin Season & Security Perceptions (Mixed Outlook)

Overview:
The Altcoin Season Index has jumped 120% in the past 30 days, indicating more money is flowing into smaller cryptocurrencies. However, ETC’s history of 51% attacks—like the $5.6 million exploit in 2020—still raises concerns among investors.

What this means:
While a strong market for altcoins could lift ETC’s price, sustained growth depends on proving the network is secure. ETC’s mining power (hashrate) has increased to about 300 terahashes per second (TH/s), compared to just 1 TH/s in 2021. Still, some exchanges like Coinbase require a 10-hour wait for deposits, showing that trust issues remain.

Conclusion

ETC’s future price depends on successfully rolling out the Olympia Upgrade’s deflationary features and managing liquidity challenges after Tether’s exit. It remains a high-risk, high-reward option tied to altcoin market cycles. Its proof-of-work security and connection to Ethereum give it unique value. The key question: Will the new DAO-controlled treasury attract enough developers to make up for losing USDT support? Keep an eye on testnet updates and exchange trading volumes as 2026 approaches.

What are people saying about ETC?

The Ethereum Classic (ETC) community is divided between strong idealism and active trading strategies. Here’s what’s currently making waves:

1. “Code is Law” supporters emphasize ETC’s unchangeable nature
2. Traders debate whether $21.10 is a solid support level or if a breakout above $22.16 is coming
3. The Olympia Upgrade is generating excitement around community-led governance

In-Depth Look

1. @Crypt0_DeFi: Ethereum Classic’s Commitment to Immutability — Positive Outlook

“ETC refused to erase the DAO hack – code is stronger than politics”
– @Crypt0_DeFi (15.2K followers · 42K impressions · 2025-09-09 07:00 UTC)
View original post
What this means: This is a positive sign for ETC’s reputation as a blockchain that resists censorship and values decentralization, attracting those who prioritize these principles.

2. @TraderX: Short-Term Price Movement — Mixed Signals

“ETC bouncing from $21.10 – target $22.16 if bulls hold momentum”
– @TraderX (8.3K followers · 18K impressions · 2025-07-31 16:02 UTC)
View original post
What this means: The near-term outlook is cautiously optimistic, but if ETC falls below $21.10, there could be a downside risk as traders lose confidence.

3. @EthClassicDAO: Olympia Upgrade and DAO Governance — Positive Outlook

“First-ever on-chain DAO governance for PoW Ethereum networks”
– @EthClassicDAO (23.6K followers · 67K impressions · 2025-07-01 22:51 UTC)
View original post
What this means: This upgrade marks a significant change, introducing decentralized funding through ECIP-1111. It could speed up development after the mainnet activates in 2026.

Summary

The overall sentiment around Ethereum Classic is mixed. On one side, there are strong supporters who believe in its core principle of “Code is Law.” On the other, traders are carefully watching its price volatility, which has been around 5.16% this week. The Olympia Upgrade’s new governance features are exciting for long-term holders, but ETC’s ability to maintain the $21.10 support level is crucial, especially as trading volume has dropped by 9.15% over the past day. Keep an eye on the progress of ECIP-1111 testnet deployments and whether the Relative Strength Index (RSI) stays above a neutral 56.29.

What is the latest news about ETC?

Ethereum Classic is managing important updates and changes in liquidity. Here’s what’s happening:

1. Tether Stops USDT Support (August 30, 2025) – ETC is one of five blockchains losing access to the popular stablecoin USDT.
2. Olympia Upgrade Plan (August 13, 2025) – New fee-burning features and on-chain governance are planned for 2026.
3. Coinbase Deposit Delays (July 21, 2025) – Users face long wait times of up to 10 hours for ETC deposits despite better network security.

In-Depth Look

1. Tether Stops USDT Support (August 30, 2025)

What’s happening?
Tether, the company behind the stablecoin USDT, will stop supporting USDT on Ethereum Classic, along with Algorand, Solana, Tron, and Stellar by the end of 2025. This move is meant to simplify their operations.

Why it matters:
This could cause short-term challenges for Ethereum Classic users who rely on USDT for decentralized finance (DeFi) and cross-chain trading, as liquidity might temporarily dry up. However, since Tether will continue supporting Ethereum and Bitcoin networks, the long-term impact should be limited. Developers may start using other stablecoins like USDC or DAI instead (Bitget).

2. Olympia Upgrade Plan (August 13, 2025)

What’s happening?
The upcoming Olympia upgrade will introduce a system similar to Ethereum’s EIP-1559, where 80% of transaction fees are burned and sent to a decentralized treasury. It will also enable on-chain governance through a decentralized autonomous organization (DAO) using ECIP-1113. Testing will begin in late 2025, with full implementation expected by the end of 2026.

Why it matters:
This upgrade is positive for Ethereum Classic’s value because it creates scarcity by burning fees and promotes decentralized decision-making. Experts predict ETC could reach $55 in 2025 if adoption grows. The DAO will also reduce dependence on centralized groups like the ETC Cooperative (OKX).

3. Coinbase Deposit Delays (July 21, 2025)

What’s happening?
Coinbase requires about 11 hours to confirm ETC deposits, even though Ethereum Classic’s network security has improved significantly, with its hashrate increasing from 1 TH/s in 2020 to around 300 TH/s now. This cautious approach is due to past security attacks on ETC between 2019 and 2020.

Why it matters:
Long wait times may discourage everyday users and traders from using ETC on Coinbase. However, the Ethereum Classic DAO says only about 20 confirmations (roughly 7 minutes) are now enough to ensure security, reflecting the network’s improvements (The Defiant).

Conclusion

Ethereum Classic is pushing forward with important upgrades focused on decentralized governance and fee management through the Olympia upgrade. At the same time, it faces challenges from Tether’s withdrawal of USDT support and cautious exchange policies that affect liquidity and user experience. The key question is whether ETC can maintain its strong “Code is Law” philosophy while making the network practical and accessible for traders and developers. Keep an eye on the testnet progress in late 2025 and how stablecoin use evolves on the platform.

What is expected in the development of ETC?

Ethereum Classic is focusing on decentralized governance and gradual improvements to its network.

1. Olympia Upgrade (End of 2026) – Introduces a community-run treasury and decentralized decision-making.
2. Contract Versioning (No Date) – Allows older smart contracts to keep working while supporting new features.
3. Layer 2 Scalability (Long-Term) – Plans to use Optimistic Rollups to increase transaction speed and capacity.

In-Depth Look

1. Olympia Upgrade (End of 2026)

Overview: The Olympia Upgrade, proposed through ECIPs 1111–1114, will implement a fee-burning system similar to Ethereum’s EIP-1559. About 80% of transaction fees will be redirected to an on-chain treasury managed by a decentralized autonomous organization (DAO). This treasury will fund projects chosen by the community through voting.

What this means:

• Positive: Creates a sustainable funding source for ecosystem projects, reducing dependence on outside grants.
• Risk: Delays in implementation could affect community confidence, since decisions are made collectively.

2. Contract Versioning (No Date)

Overview: This upgrade aims to support multiple versions of the Ethereum Virtual Machine (EVM) on the network. This means older smart contracts can continue to operate without interruption, while new contracts can use updated features.

What this means:

• Neutral: Maintains Ethereum Classic’s principle that “Code is Law,” but adds some technical complexity.
• Positive: May attract developers who want a stable platform for long-term decentralized applications (dApps).

3. Layer 2 Scalability (Long-Term)

Overview: Ethereum Classic plans to adopt Optimistic Rollups, a technology developed on Ethereum’s Layer 2 solutions. This will help increase transaction throughput while keeping the network secure through proof-of-work (PoW).

What this means:

• Positive: Improves usability for decentralized finance (DeFi) and non-fungible tokens (NFTs) without sacrificing decentralization.
• Risk: Success depends on outside developers adopting these solutions, as Ethereum Classic doesn’t have a dedicated core development team.

Conclusion

Ethereum Classic’s roadmap focuses on balancing decentralized governance with steady technical upgrades, prioritizing reliability over rapid change. The Olympia DAO could drive ecosystem growth by late 2026, but progress relies heavily on community agreement. Will Ethereum Classic’s cautious, steady approach help it outperform competitors in the next market upswing?

What updates are there in the ETC code base?

Ethereum Classic’s recent updates focus on improving how the network is governed and making it more compatible with Ethereum’s technology, all while staying true to its core values.

1. Olympia Upgrade (2026) – Adds on-chain treasury and decentralized governance.
2. EVM EOF Integration (2024) – Boosts smart contract security and efficiency.
3. Spiral Upgrade (2024) – Updates ETC to match the latest Ethereum standards.

Deep Dive

1. Olympia Upgrade (Expected by End of 2026)

Overview: The Olympia Upgrade brings new ways to fund and govern the Ethereum Classic network directly on the blockchain. It introduces four key proposals (ECIPs) that change how transaction fees are handled and create a decentralized organization (DAO) to guide the network’s future.

Details:

• ECIP-1111: Part of the transaction fees are burned (destroyed), similar to Ethereum’s EIP-1559, but the rest go into a treasury instead of being fully burned.
• ECIP-1112: Sets up a permanent treasury contract to support ecosystem growth.
• ECIP-1113/1114: Allows anyone to propose funding ideas and lets ETC holders vote on network decisions through a DAO.

What this means: This upgrade is positive for Ethereum Classic because it decentralizes funding, reduces dependence on outside grants, and encourages long-term growth. It also adds some deflationary effects by burning part of the fees.
(Source)

2. EVM EOF Integration (Completed First Half of 2024)

Overview: Ethereum Classic adopted the Ethereum Virtual Machine Object Format (EOF) upgrade to make smart contracts safer and more efficient, following Ethereum’s own Cancún upgrade.

Details:
This upgrade includes six Ethereum Improvement Proposals (EIPs), such as:

• EIP-3860: Limits the size and execution of smart contract initialization code to prevent abuse of network resources.
• EIP-3540: Standardizes how smart contract code is structured for better compatibility.

What this means: This is a neutral update for ETC. It keeps ETC technically aligned with Ethereum, ensuring it remains a reliable and secure platform for decentralized applications (dApps).

3. Spiral Upgrade (January 2024)

Overview: The Spiral upgrade brought Ethereum Classic closer to Ethereum’s Berlin upgrade, improving transaction costs and efficiency.

Details:

• Implemented Ethereum’s Berlin EIPs like EIP-2929 (which adjusts gas costs for accessing certain data) and EIP-2718 (which introduces typed transactions).
• Made it easier for developers to move their dApps from Ethereum to Ethereum Classic.

What this means: This upgrade is good news for ETC because it lowers barriers for developers building cross-chain applications, which could lead to more activity on the network.

Conclusion

Ethereum Classic remains committed to staying compatible with Ethereum’s technology while upholding its principle that “Code Is Law.” The Olympia Upgrade’s DAO-based governance could change how the network funds new projects without sacrificing its core immutability.

Key question: Will the new treasury system funded by EIP-1559 fees support sustainable development while keeping Ethereum Classic’s Proof-of-Work security intact?