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Why did the price of ETC go up?

Ethereum Classic (ETC) increased by 4.58% in the last 24 hours, outperforming the overall crypto market, which rose by 1.87%. Here’s why:

  1. Ecosystem Growth – A $10 million grants program and favorable regulations in Hong Kong.
  2. Technical Rebound – Indicators show ETC was oversold and has bounced back.
  3. Market Sentiment Shift – The Fear & Greed Index is improving from extreme fear levels.

Deep Dive

1. Ecosystem Growth & Funding (Positive Impact)

Overview:
The ETC Grants DAO has launched a $10 million fund to support development, backed by major players BITMAIN and ANTPOOL. Half of this fund will be used to buy ETC tokens (Crypt0_DeFi). At the same time, Hong Kong’s new Web3 regulations, effective since August 2025, favor ETC’s Proof-of-Work system, making it a good fit for regulatory compliance in Asia.

What this means:
This combination is attracting more institutional investors because ETC aligns with clear regulations and decentralized values. The grants program increases demand by purchasing ETC tokens, and Hong Kong’s supportive stance could bring in more institutional money.

What to watch:
Progress on the upcoming Olympia Upgrade, expected in late 2026, which will add features like fee burning and decentralized governance.

2. Technical Rebound (Mixed Impact)

Overview:
On September 25, ETC’s Relative Strength Index (RSI14) dropped to 30.27, indicating it was oversold. The price bounced off a key support level at $17.64. The MACD indicator shows bearish momentum is slowing, and the pivot point at $18.06 is now acting as support.

What this means:
Traders see the oversold RSI and support above $18 as a buying opportunity. However, the 30-day Simple Moving Average (SMA) at $20.50 remains a resistance level. Breaking above this could signal a stronger recovery, while failing to do so might lead to more selling.

3. Market Sentiment & Liquidity (Neutral Impact)

Overview:
The Fear & Greed Index for crypto has improved from 15 (“Extreme Fear”) in March 2025 to 32 (“Fear”), showing less panic in the market. ETC’s 24-hour trading volume dropped 16.8% to $123 million, but the turnover rate (volume relative to market cap) stayed steady at 4.35%, indicating liquidity remains stable.

What this means:
Overall market sentiment is calming down after months of volatility, which reduces panic selling. However, the lower trading volume compared to ETC’s peak in July 2025 ($302 million) suggests investors are still cautious.

Conclusion

ETC’s recent price increase is driven by strategic investments in its ecosystem, technical buying signals, and improving market sentiment. While the short-term outlook is positive, ETC faces strong resistance near $20.50 and is still down about 15% over the past month.

Key points to watch:
Can ETC maintain support above $18.06 and benefit from Hong Kong’s regulatory environment? Keep an eye on ETC Grants DAO’s new projects and trends in Bitcoin dominance for clues on where ETC might head next.


What could affect the price of ETC?

Ethereum Classic (ETC) is navigating a mix of promising upgrades and challenging market conditions.

  1. Olympia Upgrade (2026) – New governance and fee-burning features could reduce supply.
  2. Growth in Asia – Hong Kong’s push for Web3 might increase ETC’s adoption.
  3. Market Sentiment – A cautious crypto market is putting pressure on altcoins like ETC.

Deep Dive

1. Protocol Upgrade: Olympia (Positive Outlook)

What’s Happening?
The Olympia Upgrade, planned for late 2026, will introduce a system similar to Ethereum’s EIP-1559. This means a portion of transaction fees will be burned (destroyed), reducing the total supply of ETC over time. It also adds on-chain DAO governance, allowing the community to make funding decisions directly. This is a first for Proof-of-Work Ethereum networks like ETC.

Why It Matters
Burning fees can slow down the increase in ETC supply, which is currently growing at about 3.7% per year. If more people use the network, this could make ETC more scarce and potentially more valuable. However, because ETC has fewer transactions than Ethereum, the immediate effect might be limited. The new governance system could attract developers but also comes with risks of disagreements, which are common in decentralized communities.

2. Regulatory Environment in Asia (Mixed Impact)

What’s Happening?
ETC is aligning with Hong Kong’s new Web3 regulations (Crypt0_DeFi), positioning itself as a “compliant Proof-of-Work chain” in a region that handles about 60% of global crypto trading. BITMAIN/ANTPOOL has also launched a $10 million fund to support developers in Asia.

Why It Matters
Clearer regulations could help ETC attract miners and developers, especially those affected by stricter energy rules elsewhere. However, ETC faces strong competition from local Asian blockchains like Conflux and the well-established Ethereum network. The success of these efforts depends on turning partnerships and funding into real growth in network use and mining power.

3. Current Crypto Market Trends (Challenging Environment)

What’s Happening?
The overall crypto market has dropped about 8.4% in the past week, with fear dominating investor sentiment (fear index at 32). ETC’s price movement remains closely tied to Bitcoin (correlation of 0.89 over 90 days), meaning it’s unlikely to move independently anytime soon.

Why It Matters
Bitcoin’s market dominance has increased to 58%, which often means less money flows into mid-sized altcoins like ETC (market cap around $2.8 billion). While the altcoin season index is still somewhat positive (72), it has cooled down from last week’s 77. Traders should watch if ETC can outperform Ethereum, which has fallen 16.24% over 90 days compared to ETC’s 12.63% gain.

Conclusion

Looking ahead to 2025-2026, ETC’s future depends on balancing its technical upgrades with broader market challenges. The success of the Olympia Upgrade (expected to enter testnet in early 2026) and growth in Asia (measured by developer activity and mining power) will be key indicators. For now, ETC’s price is trading between $17.64 (support) and $22.50 (recent high), defining its near-term range.

Key Question
Will ETC’s new DAO governance attract enough decentralized app (dApp) developers before Ethereum rolls out its own scalability improvements in 2025?


What are people saying about ETC?

The Ethereum Classic (ETC) community is actively discussing technical updates, holding firm to the "Code is Law" principle, and looking forward to upcoming protocol improvements. Here’s the latest:

  1. Bearish Technical Outlook: A possible breakdown in price could push ETC down to $19.62.
  2. Positive Development: The Olympia Upgrade will introduce DAO (Decentralized Autonomous Organization) governance.
  3. Key Theme: ETC’s commitment to immutability is its core strength.

In-Depth Look

1. @Crypt0_DeFi: Immutability as a Core Belief bullish

“ETC refused to erase the DAO hack—code is stronger than politics.”
– @Crypt0_DeFi (12.3K followers · 84K impressions · 2025-09-09 07:00 UTC)
View original post
What this means: ETC’s refusal to reverse the DAO hack highlights its dedication to immutability, making it attractive to users who value censorship resistance and decentralization, especially as regulatory pressures increase.

2. @EthClassicDAO: Olympia Upgrade Launches bullish

“First on-chain DAO for PoW Ethereum networks—decentralized funding and governance.”
– @EthClassicDAO (8.1K followers · 23K impressions · 2025-07-01 22:51 UTC)
View original post
What this means: The 2026 Olympia Upgrade will introduce a DAO to manage the network, potentially reducing selling pressure by burning 80% of fees and encouraging development through protocol-funded grants. This addresses ETC’s past challenges with funding.

3. CoinMarketCap Post: Bearish Technical Setup bearish

“Breakdown likely below $20.25—target $19.62.”
– Anonymous trader (Posted 2025-08-01 11:30 UTC)
What this means: Technical indicators suggest weakening momentum, with the price possibly dropping 6.5% from $18.31 to $19.62, signaling caution for traders.

4. OKX Analysis: Long-Term $158 Target bullish

“ETC could hit $55 in 2025, $158 by 2030 post-Olympia.”
– OKX Research (Published 2025-08-13)
What this means: Optimism for ETC’s price growth depends on wider adoption of its deflationary model and compatibility with Ethereum’s virtual machine (EVM). However, short-term challenges remain, including a 17% drop year-to-date.

Conclusion

The outlook for $ETC is mixed. While technical analysis points to near-term risks around $19.62, upcoming upgrades like the Olympia DAO and fee-burning mechanisms could boost momentum. Keep an eye on the testnet rollout of ECIP-1111 planned for Q4 2025, which may signal stronger governance and institutional interest.


What is the latest news about ETC?

Ethereum Classic is adapting to new regulations and technical improvements while dealing with some challenges in liquidity. Here’s a quick summary of the latest developments:

  1. Tether Stops USDT Support on ETC (August 30, 2025) – Ethereum Classic loses a key stablecoin, which may cause short-term liquidity issues.
  2. Hong Kong Supports Web3 Growth (September 15, 2025) – ETC aims to expand in Asia by promoting its Proof of Work (PoW) system and “Code is Law” philosophy.
  3. Olympia Upgrade Roadmap (July 1, 2025) – Plans for decentralized governance and fee burning are set for 2026.

In-Depth Look

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

What happened: Tether, the company behind the USDT stablecoin, has stopped supporting USDT on Ethereum Classic and several other blockchains to simplify their operations. Before this change, USDT trading on ETC had about $300 million in daily volume. This move puts some pressure on ETC’s liquidity, but the change will happen gradually.
What it means: In the short term, this is a negative development because it reduces the ease of moving funds across different blockchains. However, in the long run, Ethereum Classic could shift to other stablecoins. Tether mentioned regulatory reasons for this change, signaling that compliance rules are increasingly affecting PoW blockchains like ETC. (Bitget)

2. Hong Kong Supports Web3 Growth (September 15, 2025)

What happened: Hong Kong introduced new rules for Web3 technologies, including stablecoins and staking. This regulatory clarity makes Ethereum Classic an attractive option in Asia, especially since it uses a PoW consensus and follows the “Code is Law” principle, meaning smart contracts are enforced as written without interference. The ETC Grants DAO is set to fund projects that support decentralized governance and resist censorship.
What it means: This is positive news for Ethereum Classic’s adoption. Developers looking for clear regulations and a secure, censorship-resistant platform may be drawn to ETC. Additionally, BITMAIN/ANTPOOL’s $10 million fund to support the ETC ecosystem adds credibility and resources. (Crypt0_DeFi)

3. Olympia Upgrade Roadmap (July 1, 2025)

What happened: The upcoming Olympia upgrade will introduce new features like fee burning similar to Ethereum’s EIP-1559, where 80% of transaction fees will be sent to a decentralized treasury. It will also enable on-chain decentralized autonomous organization (DAO) governance through ECIP-1111 and ECIP-1113 proposals. Test networks are already running, with the main network upgrade planned for late 2026.
What it means: This upgrade is a positive step toward reducing the total supply of ETC through fee burns and empowering the community to govern the network. These changes could help reduce selling pressure on ETC. However, the delay until late 2026 means ETC risks losing momentum compared to other blockchains moving faster. (EthClassicDAO)

Conclusion

Ethereum Classic is navigating a mix of challenges and opportunities. While losing Tether’s USDT support creates short-term liquidity concerns, regulatory support in Asia and the upcoming Olympia upgrade aim to strengthen ETC’s position. The big question remains: can ETC’s Proof of Work approach attract enough developers and users to make up for the shrinking stablecoin options?


What is expected in the development of ETC?

Ethereum Classic’s roadmap focuses on upgrading its network and empowering its community to make decisions:

  1. Olympia Upgrade (End of 2026) – New funding system and community governance through a decentralized organization.
  2. EVM Versioning (No Date) – Ensures smart contracts keep working even after updates.
  3. Layer 2 Integration (Long-Term) – Improves network speed and lowers costs using advanced scaling solutions.

Deep Dive

1. Olympia Upgrade (End of 2026)

Overview:
The Olympia Upgrade includes four key improvements:

This upgrade will be tested on a trial network in late 2025, with a full launch expected by the end of 2026. It aims to make funding for development more sustainable and give $ETC holders more control.

What this means:
This is a positive step for Ethereum Classic because it builds a reliable way to support ongoing improvements and strengthens community involvement. However, technical challenges or delays in agreement could slow progress.

2. EVM Versioning (No Date)

Overview:
This idea, discussed by the community, would let smart contracts specify which version of the Ethereum Virtual Machine (EVM) they run on. This helps prevent older contracts from breaking when the network updates. It supports ETC’s principle that “Code is Law,” meaning contracts should run exactly as written.

What this means:
In the short term, this won’t affect the price much, but it’s a positive move for the long term. It balances the need to innovate with the need to keep existing contracts stable. The main risk is that reaching agreement on this could take time.

3. Layer 2 Integration (Long-Term)

Overview:
Ethereum Classic plans to adopt Layer 2 solutions like Optimistic Rollups, which are technologies that run transactions off the main blockchain to increase speed and reduce costs. These solutions have been tested on Ethereum, so ETC can benefit from proven technology with less risk.

What this means:
This is good news for Ethereum Classic’s usability and could attract developers looking for affordable, compatible platforms. However, competition from other Layer 2 networks like Arbitrum might limit how much ETC benefits.

Conclusion

Ethereum Classic’s roadmap focuses on community-led governance, keeping smart contracts compatible over time, and improving scalability by carefully adopting proven technologies. The Olympia Upgrade is the most definite plan, while EVM versioning and Layer 2 integration are longer-term goals. With this cautious approach, ETC aims to balance security and growth in a fast-changing market.


What updates are there in the ETC code base?

Ethereum Classic (ETC) keeps its software in line with Ethereum Virtual Machine (EVM) standards, focusing on security and decentralization.

  1. Olympia Upgrade Proposal (July 2025) – Adds protocol-level funding, decentralized governance through a DAO, and fee burning based on EIP-1559.
  2. EVM EOF Compatibility (First Half of 2024) – Improves smart contract efficiency and security by adopting Ethereum’s latest upgrades.

In-Depth Look

1. Olympia Upgrade Proposal (July 2025)

What it is: The Olympia Upgrade brings a decentralized treasury, on-chain governance, and a new way to handle transaction fees through four Ethereum Classic Improvement Proposals (ECIPs).

Why it matters: This upgrade is positive for ETC because it decentralizes how funds are managed, reduces inflation by burning fees, and aligns incentives for long-term holders. (Source)

2. EVM EOF Compatibility (First Half of 2024)

What it is: Ethereum Classic adopted Ethereum’s EVM Object Format (EOF) upgrades to stay compatible and improve smart contract security.

Why it matters: This update is neutral to positive for ETC. It keeps ETC compatible with popular Ethereum tools like MetaMask and enhances security for developers, without changing ETC’s core Proof-of-Work consensus. (Source)

Conclusion

Ethereum Classic is balancing two goals: adopting technical improvements aligned with Ethereum while strengthening decentralized governance and sustainable supply. The Olympia Upgrade could boost the ecosystem by funding community projects through on-chain voting. With ETC currently trading about 79% below its 2025 peak ($17.94 vs. $24.55), these upgrades might spark renewed developer interest and market confidence.