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Why did the price of ETC fall?

Ethereum Classic (ETC) dropped 0.76% in the last 24 hours, underperforming the overall crypto market, which rose by 0.94%. The main reasons for this decline are:

  1. Technical breakdown – ETC fell below a key support level at $20.25, signaling a likely continuation of the downward trend.
  2. USDT delisting – Tether plans to stop supporting ETC, which reduces its liquidity and usefulness.
  3. Profit-taking – After an 8.65% gain last week, some investors are cashing out, especially following Federal Reserve rate cuts that boosted risk assets.

Deep Dive

1. Technical Breakdown (Bearish Impact)

Ethereum Classic formed a descending triangle pattern and broke below an important support level at $20.25 (CoinMarketCap community). The 4-hour Relative Strength Index (RSI) is at 52.7, showing weakening buying momentum. Fibonacci retracement levels point to the next support around $19.62. Traders identified $20.03 as a key point where selling increased, pushing prices lower.

What this means: Many traders likely triggered stop-loss orders (automatic sell orders to limit losses) below $20.25, accelerating the price drop. Attempts to bounce back have been weak, indicating limited buyer interest.

Watch: If ETC closes above $20.50, it could invalidate this bearish pattern and signal a potential recovery.

2. Tether’s USDT Withdrawal (Bearish Impact)

Tether announced it will stop supporting USDT (a popular stablecoin) on the Ethereum Classic network by late August 2025 (Bitget). Currently, USDT transactions on ETC make up about 5% of the network’s activity.

What this means: With less stablecoin liquidity, traders and decentralized finance (DeFi) projects may be less inclined to use ETC, which could hurt demand. Similar events, like Bitcoin Gold’s USDT delisting in 2018, caused short-term price drops.

3. Post-Rally Profit-Taking (Neutral Impact)

ETC rose 8.65% last week, helped by Federal Reserve interest rate cuts and promotions like HTX’s zero-interest loans on ETC (Decrypt). However, trading volume in the last 24 hours fell by 14.4%, suggesting momentum is slowing.

What this means: Investors are likely taking profits after the recent rally. Additionally, Bitcoin’s market dominance increased to 58.01%, meaning some capital is moving from smaller coins like ETC to larger ones.

Conclusion

Ethereum Classic’s recent dip is driven by technical selling, reduced stablecoin support, and natural profit-taking after a Fed-inspired rally. While the upcoming Olympia Upgrade, which introduces on-chain governance, is a positive long-term catalyst expected in 2026, short-term price action depends on ETC reclaiming the $20.25 support level.

Key level to watch: The 200-day simple moving average (SMA) at $18.74. If ETC falls below this, it could trigger automated selling by trading algorithms.


What could affect the price of ETC?

Ethereum Classic (ETC) is balancing important upgrades with market challenges.

  1. Olympia Upgrade (2026) – Introducing fee burns and community governance to increase scarcity and appeal.
  2. Proof-of-Work vs. Competition – ETC sticks to its original mining method, but faces pressure from Ethereum and newer blockchains like Sui.
  3. Regulatory Changes – Hong Kong supports Web3 growth, but Tether’s removal of USDT from ETC’s network reduces liquidity.

Deep Dive

1. Protocol Upgrades & Funding (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, reducing the total supply over time. ETC’s supply is capped at 210.7 million coins, so this could make the coins more scarce. Additionally, BITMAIN and ANTPOOL have committed $10 million to support ETC developers (Crypt0_DeFi).

What this means:
By reducing the number of new coins and funding development, ETC could attract investors looking for long-term value. Past examples, like Ethereum’s fee burn, have often led to price increases when adoption grows.

2. Proof-of-Work Niche vs. Market Pressures (Mixed Outlook)

Overview:
ETC continues to use Proof-of-Work (PoW), the original mining method, unlike Ethereum which switched to Proof-of-Stake (PoS). This appeals to users who value decentralization. However, ETC’s mining power (about 1.3 TH/s) is relatively low, making it vulnerable to attacks like the 51% attack Monero experienced in 2025 (source). Meanwhile, newer blockchains like Sui focus on faster transactions and scalability, attracting developers.

What this means:
ETC’s commitment to PoW may keep a loyal community, but security risks and slower innovation could limit growth. Its price might follow trends similar to Bitcoin’s PoW sentiment but could lag behind more advanced Layer 1 blockchains.

3. Regulatory & Liquidity Risks (Negative Outlook)

Overview:
In August 2025, Tether removed USDT stablecoin support from ETC’s network (source), which reduces liquidity and makes it harder to use ETC in decentralized finance (DeFi). On the positive side, Hong Kong’s supportive Web3 regulations (Crypt0_DeFi) may encourage institutional investment from Asia.

What this means:
Losing USDT trading pairs could lower ETC’s trading volume in the short term. However, if ETC can take advantage of favorable regulations in Asia, it might recover liquidity. Watch for new exchange listings, like Bitstamp’s planned ETC addition in July 2025, as signs of recovery.

Conclusion

ETC’s future price depends on successfully rolling out the Olympia Upgrade to increase scarcity and community control, while managing security risks from its PoW system and adapting to liquidity changes. Currently priced around $19.60, ETC faces resistance near $21.50. If the community-driven development picks up, ETC could see renewed interest in 2026. The key question remains: Can ETC’s dedication to its original mining method overcome its technical challenges in a market dominated by newer technologies?


What are people saying about ETC?

The Ethereum Classic community is divided between excitement over upcoming protocol improvements and concerns about technical market signals. Here’s what’s trending:

  1. Olympia Upgrade buzz – Introducing DAO governance and fee burning
  2. “Code is Law” supporters emphasize Ethereum Classic’s commitment to Proof of Work (PoW)
  3. Traders debate the risk of a drop below $19.62 versus a potential breakout above $28

Deep Dive

1. @EthClassicDAO: Major Protocol Funding Changes (Positive Outlook)

The Olympia Upgrade will activate EIP-1559, redirecting fees to a treasury, and introduce on-chain DAO governance. The goal is to launch on the mainnet by late 2026.
– @EthClassicDAO (23K followers · 18K impressions · 2025-07-01 22:51 UTC)
View original post
What this means: This is a positive development for Ethereum Classic (ETC). Decentralized funding through the DAO could help solve long-term development challenges. Plus, fee burning could reduce the total supply over time, potentially increasing value.

2. @Crypt0_DeFi: Commitment to Blockchain Immutability (Positive Outlook)

Ethereum Classic’s decision not to reverse the DAO hack highlights the importance of blockchain immutability—meaning the code is final and cannot be changed by humans.
– @Crypt0_DeFi (41K followers · 89K impressions · 2025-09-09 07:00 UTC)
View original post
What this means: This strengthens Ethereum Classic’s reputation as a “hard money” blockchain that prioritizes decentralization and security. It appeals to users who prefer Proof of Work over Ethereum’s newer Proof of Stake system.

3. CoinMarketCap Community: Technical Warning – Descending Triangle Pattern (Negative Outlook)

Ethereum Classic faces a risk of dropping to $19.62 if it breaks below the $20 support level. The pattern of lower highs suggests weakening buying momentum.
– Technical analysis post (1.2K views · 2025-08-01 11:30 UTC)
View original post
What this means: This is a short-term bearish signal. If the price falls below $19.62, it could decline another 4.9%, testing previous summer lows.

Conclusion

Opinions on Ethereum Classic (ETC) are mixed. Developers are optimistic about governance upgrades and the project’s strong principles, while traders remain cautious due to uncertain market signals. Keep an eye on the $19.62 to $20.25 price range: holding above this zone could spark renewed buying interest heading into the fourth quarter, while falling below may lead to further declines. The progress of the Olympia Upgrade testnet, expected in early 2026, will be a key factor to watch.


What is the latest news about ETC?

Ethereum Classic (ETC) is making moves with new regulations and upgrades but is also facing some challenges with liquidity. Here’s the latest update:

  1. Hong Kong’s Web3 Initiative (September 15, 2025) – ETC is focusing on expanding in Asia, aligning with Hong Kong’s updated crypto rules.
  2. Tether Stops Supporting ETC (August 30, 2025) – The popular stablecoin USDT is no longer available on ETC, which could affect liquidity in the short term.
  3. Olympia Upgrade Proposed (July 1, 2025) – A new upgrade is planned to introduce decentralized governance and a treasury system.

In-Depth Look

1. Hong Kong’s Web3 Initiative (September 15, 2025)

What’s Happening?
Hong Kong has introduced new rules for Web3 technologies, including stablecoins and staking. This makes the city a growing hub for blockchain innovation. Ethereum Classic, which uses a Proof of Work system and follows the principle of “Code is Law” (meaning the code rules without outside interference), is aiming to grow its presence in Asia. Through the ETC Grants DAO, it plans to fund projects that improve security and resist censorship.

Why It Matters
This is good news for ETC. Clear regulations in Hong Kong could attract big investors and developers. ETC’s use of Proof of Work sets it apart from other blockchains like Ethereum, which use Proof of Stake, appealing to those who value decentralization. (Crypt0_DeFi)

2. Tether Stops Supporting ETC (August 30, 2025)

What’s Happening?
Tether, the company behind the USDT stablecoin, has stopped supporting USDT on Ethereum Classic, as well as on Algorand and Solana. This move is part of Tether’s effort to simplify its operations. ETC’s USDT liquidity depended on bridges from Tron and Ethereum, which might now experience some instability.

Why It Matters
This is a short-term setback for ETC because less access to USDT could reduce activity in decentralized finance (DeFi) on the ETC network. On the upside, this might encourage the development of native stablecoins on ETC or new partnerships. (Bitget)

3. Olympia Upgrade Proposed (July 1, 2025)

What’s Happening?
The Olympia Upgrade is a planned update that would introduce a system similar to Ethereum’s EIP-1559 fee burning, but with 20% of fees going to a decentralized autonomous organization (DAO) treasury. It also proposes on-chain governance, allowing the community to have a say in decisions. Testing is expected by late 2025, with full launch by the end of 2026.

Why It Matters
This upgrade could be positive in the long run. The DAO treasury would increase transparency in funding, and fee burning could reduce the total supply of ETC, potentially increasing its value. However, the impact won’t be immediate, as it depends on developer support and the upgrade’s timeline. (EthClassicDAO)

Conclusion

Ethereum Classic is working to grow in Asia while facing some liquidity challenges. Its roadmap focuses on decentralized governance and community involvement. The big questions now are: Will Tether’s exit push ETC to become more independent, and can the Olympia Upgrade keep investors engaged despite its delayed rollout?


What is expected in the development of ETC?

Ethereum Classic’s development is guided by proposals from its decentralized community, with three major updates on the horizon:

  1. Olympia Upgrade (End of 2026) – Introducing on-chain governance through a DAO and a treasury funded by transaction fees.
  2. EVM Backward Compatibility Fix (No Date) – Making sure existing smart contracts continue working smoothly after upgrades.
  3. Layer 2 Integration (Ongoing) – Adding scaling solutions like Optimistic Rollups to improve transaction speed and reduce costs.

In-Depth Look

1. Olympia Upgrade (End of 2026)

What it is:
The Olympia Upgrade (ECIP-1111 to ECIP-1114) will change how transaction fees work by burning a portion and sending 80% of the base fees to a decentralized treasury. This treasury will fund ongoing development, managed through a decentralized autonomous organization (DAO). The goal is to support Ethereum Classic’s growth while sticking to its principle that “Code is Law.” Testing will start in late 2025, with the full upgrade expected by the end of 2026.

Why it matters:
This is a positive step for Ethereum Classic because it solves problems with funding and reduces the risk of central control over upgrades. Having a DAO treasury means developers and contributors can be rewarded, encouraging more innovation and network improvements. However, delays or disagreements within the community could slow progress.

2. EVM Backward Compatibility Fix (No Date)

What it is:
This upgrade aims to prevent smart contracts from breaking when the network undergoes major changes (hard forks). It does this by allowing different versions of the Ethereum Virtual Machine (EVM) to run side-by-side, so older contracts keep working while new features are added.

Why it matters:
This is a neutral but important update. It helps keep the network stable and trustworthy by protecting existing contracts, which is key for developers who want their work to last. However, reaching agreement on this change might take time, which could delay implementation.

3. Layer 2 Integration (Ongoing)

What it is:
Ethereum Classic is gradually adopting Layer 2 solutions like Optimistic Rollups, which are technologies that handle transactions off the main blockchain to increase speed and lower costs. These solutions are developed by other Ethereum-compatible networks, allowing ETC to benefit without building everything from scratch.

Why it matters:
This is good news for Ethereum Classic because it improves scalability while keeping the network secure through its Proof-of-Work system. On the downside, relying on innovations from other projects might cause ETC to fall behind networks with dedicated teams focused solely on Layer 2 development.

Conclusion

Ethereum Classic’s future depends on community-led upgrades like the Olympia funding model and backward compatibility improvements. These efforts reinforce ETC’s position as a decentralized and immutable smart contract platform. While there’s no fixed timeline, these changes could make ETC more competitive compared to more centralized blockchains. The big question remains: will decentralized governance speed up progress or cause delays?


What updates are there in the ETC code base?

Ethereum Classic (ETC) is undergoing its biggest update in years to improve how it’s governed and funded.

  1. Olympia Upgrade (July 2025) – Brings on-chain DAO governance and decentralized funding.
  2. EIP-1559 Integration (Targeted for 2026) – Burns transaction fees and sends some revenue to a community treasury.
  3. Immutable Treasury Contract (2026) – Makes funding transparent and controlled by the protocol itself.

Deep Dive

1. Olympia Upgrade (July 2025)

Overview: The Olympia Upgrade includes four key Ethereum Classic Improvement Proposals (ECIPs) designed to decentralize how the network is funded and governed. This will be the first on-chain DAO (Decentralized Autonomous Organization) system on a Proof-of-Work Ethereum network.

Key features:

Why it matters: This upgrade is positive for ETC because it addresses long-standing funding issues, reduces dependence on centralized groups, and aligns incentives for developers and users. (Source)

2. EVM Compatibility Updates (Ongoing)

Overview: Ethereum Classic continues to stay compatible with the Ethereum Virtual Machine (EVM), which means it supports the same smart contract technology as Ethereum, while focusing on security and decentralization.

Recent updates include:

Why it matters: This keeps ETC familiar and accessible to developers who work with Ethereum, without adopting riskier changes like Ethereum’s move to Proof-of-Stake.

Conclusion

Ethereum Classic is evolving toward a more sustainable, community-led future with the Olympia Upgrade, while keeping compatibility with Ethereum’s technology. The project focuses on stability and the principle that “Code Is Law,” meaning the rules set by the code are final. The big question is whether this decentralized governance will attract enough developer interest to compete with newer blockchain platforms.