Why did the price of ETC go up?

Ethereum Classic (ETC) increased by 3.45% in the last 24 hours, outperforming the overall cryptocurrency market, which rose by 2.18%. This growth is driven by positive technical signals, excitement about the upcoming Olympia Upgrade, and renewed interest from institutional investors.

1. Technical Breakout: ETC’s price surpassed important resistance levels, showing strong upward momentum.
2. Olympia Upgrade Buzz: Proposed changes include new governance features and a system to reduce transaction fees.
3. Exchange Activity: Listing on Bitstamp via Robinhood has improved trading options and liquidity.

Deep Dive

1. Technical Breakout (Positive Signal)

Overview: ETC’s price moved above its 7-day simple moving average (SMA) of $19.36 and passed the 50% Fibonacci retracement level at $20.07. Supporting this move are technical indicators like a rising MACD histogram (+0.158), which signals momentum, and a neutral Relative Strength Index (RSI) at 51.51, suggesting balanced buying and selling pressure.
What this means: This breakout indicates short-term bullish momentum, with traders now watching the next resistance level at $21.35. Trading volume increased by 5.65% to $118.8 million, confirming strong buyer interest.
What to watch: If ETC closes above $21.35, it could aim for $22.50, a previous high. However, if it falls below $20.07, some traders might take profits, causing a price dip.

2. Olympia Upgrade Speculation (Positive Outlook)

Overview: The upcoming Olympia Upgrade, covering proposals ECIP-1111 to 1114, plans to redirect 20% of transaction fees to a decentralized autonomous organization (DAO) treasury and introduce a fee-burning mechanism similar to Ethereum’s EIP-1559. The testnet launch is expected in late 2026.
What this means: This upgrade aims to solve Ethereum Classic’s long-standing funding challenges and create deflationary pressure by reducing the total supply over time. These changes are seen as positive for long-term value, similar to what helped Ethereum’s price rally in 2021. Developers and miners view this as a promising development.

3. Exchange Listings & Institutional Activity (Mixed Effects)

Overview: On July 11, 2025, Bitstamp, through Robinhood, added ETC/USD and ETC/EUR trading pairs, making it easier for investors to buy and sell ETC. However, Tether’s decision in August 2025 to stop supporting USDT stablecoin on the Ethereum Classic network caused some short-term price fluctuations. Despite this, spot buyers remain active.
What this means: New exchange listings help attract retail traders, but ETC’s smaller market capitalization ($3.09 billion) means it can still be sensitive to sudden changes in liquidity.

Conclusion

Ethereum Classic’s recent price increase reflects strong technical momentum and optimism about upcoming protocol upgrades. However, because ETC’s development relies heavily on its community, there are risks involved. Key point to watch: Will ETC’s price stay above $20.07 as more details about the Olympia Upgrade become clear?

What could affect the price of ETC?

Ethereum Classic (ETC) stands firm on its core principles while facing new market challenges.

1. Olympia Upgrade (2026) – New funding and governance features could increase decentralization and boost value.
2. Tether’s USDT Withdrawal – Losing stablecoin support might reduce liquidity and usefulness.
3. Mining Trends & Regulations – Growing interest in energy-efficient mining and supportive Asian regulations may help ETC’s future.

Deep Dive

1. Olympia Upgrade: New Funding and Governance (Positive Outlook)

What’s happening:
Scheduled for late 2026, the Olympia Upgrade will introduce a system where most transaction fees are burned and redirected to a decentralized treasury. This treasury will be controlled by a community-run DAO (Decentralized Autonomous Organization), allowing ETC holders to vote on how funds are used to support the ecosystem.

Why it matters:

• Reducing supply growth: Burning fees can limit how many new ETC coins enter circulation, potentially increasing value over time, similar to what happened with Ethereum after its EIP-1559 update.
• Encouraging innovation: A community treasury can fund new projects and attract developers, possibly leading to more decentralized apps (dApps) on ETC.
• Staying true to principles: This upgrade reinforces ETC’s commitment to “Code is Law,” setting it apart from Ethereum’s shift to Proof of Stake (PoS).
  Learn more: Ethereum Classic DAO

2. Market Liquidity and Stablecoin Support (Challenges Ahead)

What’s happening:
Tether plans to stop issuing USDT stablecoins on the ETC blockchain by late 2025. Since USDT is widely used for trading and liquidity, this could reduce ETC’s market activity. Currently, ETC’s daily trading volume ($104.5 million) is much smaller than Ethereum’s ($358 billion).

Why it matters:

• Less trading activity: Without USDT, traders and decentralized finance (DeFi) projects might move to other blockchains that support stablecoins.
• Slower transactions: Exchanges like Coinbase require long confirmation times (about 11 hours) for ETC due to past security issues, which can discourage quick trading.
  More details: Tether Policy Update

3. Mining Trends and Regulatory Environment (Mixed Effects)

What’s happening:
Ethereum Classic uses a Proof of Work (PoW) mining system, which consumes more energy than newer methods. However, BITMAIN, a major mining hardware company, has invested $10 million in ETC projects, showing confidence. Additionally, Hong Kong’s supportive Web3 regulations could boost ETC adoption in Asia.

Why it matters:

• Mining incentives: ETC’s fixed supply and mining-friendly design may attract miners, especially after Bitcoin’s upcoming halving event in 2024.
• Regulatory risks: Some regions focus on reducing energy use, which could limit PoW mining’s growth despite positive developments in Asia.
  See more: BITMAIN Grants

Conclusion

Ethereum Classic’s future depends on successfully rolling out the Olympia Upgrade to improve funding and governance while managing liquidity challenges. Although losing Tether’s USDT support and mining centralization are short-term obstacles, clearer regulations in Asia and institutional mining investments could help keep ETC’s price stable around $20–$25.

Watch: Will ETC’s new DAO governance speed up development enough to offset liquidity losses?

What are people saying about ETC?

The Ethereum Classic (ETC) community is actively discussing key price levels around $20 and the strong belief in “Code is Law,” while also looking forward to upcoming protocol improvements. Here’s what’s happening:

1. Traders debate whether ETC will hold above $20.25 or break lower
2. “Code is Law” philosophy highlights ETC’s commitment to unchangeable blockchain rules despite market ups and downs
3. Olympia Upgrade brings hope for improved decentralized governance by late 2026

Deep Dive

1. ETC’s $20.25 Price Battle – Bearish Signals

John Morgan (@johnmorganFL) points out that ETC is forming a descending triangle pattern, which could lead to a drop to around $19.62 if the price falls below $20.25.
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What this means: In the short term, this suggests a bearish outlook as traders may push the price lower. A drop to $19.62 would be about 2.8% below the current price of $20.18.

2. “Code Is Law” Philosophy Remains Strong – Bullish Outlook

Crypto analyst @Crypt0_DeFi highlights that ETC’s refusal to reverse the DAO hack demonstrates the blockchain’s commitment to immutability—meaning the code rules over politics.
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What this means: This is a positive sign for long-term supporters who value ETC’s unchangeable nature as a strength compared to more centralized blockchains. However, wider adoption is still important for growth.

3. Olympia Upgrade Progress – Mixed Feelings

The Ethereum Classic DAO (@EthClassicDAO) shares that proposals for on-chain governance and treasury funding are under community review as part of the Olympia Upgrade.
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What this means: This update could solve ongoing funding challenges but carries risks in execution. The upgrade is not expected to launch on the main network until late 2026.

Conclusion

The outlook for Ethereum Classic (ETC) is mixed. Technical indicators suggest some short-term price weakness, while the community’s strong belief in “Code is Law” and upcoming protocol upgrades provide long-term optimism. Traders are watching the $19.62 to $21.50 price range closely. Meanwhile, long-term holders focus on ETC’s Proof of Work security and its commitment to immutability. Keep an eye on the Olympia Upgrade testnet rollout planned for late 2025 to see how developers manage to modernize ETC’s governance without compromising its core principles.

What is the latest news about ETC?

Ethereum Classic (ETC) is gaining momentum in Asia’s growing Web3 space, balancing strong ecosystem growth with some ongoing technical challenges. Here’s a quick update:

1. Hong Kong Web3 Expansion (September 15, 2025) – ETC is taking advantage of clearer regulations in Asia to promote its Proof-of-Work blockchain.
2. ETC Grants DAO Funding Boost (September 4, 2025) – A $10 million funding commitment supports decentralized governance and security improvements.
3. HTX Zero-Interest ETC Loans (September 24, 2025) – An exchange offers interest-free loans on ETC, encouraging borrowing amid U.S. Federal Reserve rate cuts.

Deep Dive

1. Hong Kong Web3 Expansion (September 15, 2025)

Overview:
Hong Kong introduced new Web3 regulations in August 2025, providing clear rules for activities like staking, custody, and tokenization. This makes the city a promising blockchain hub. Ethereum Classic’s ETC Grants DAO is using this opportunity to grow its Proof-of-Work network, focusing on the principle of “Code is Law” — meaning the blockchain’s rules are unchangeable — and aiming to attract institutional users.

What this means:
This is positive news for ETC. Clear regulations in Asia can bring more investment and developers to its platform. Hong Kong’s supportive approach to crypto fits well with ETC’s goal of decentralization, potentially increasing its use in business blockchain projects. (Crypt0_DeFi)

2. ETC Grants DAO Funding Boost (September 4, 2025)

Overview:
The ETC Grants DAO (EGD) announced a $10 million funding boost from BITMAIN and ANTPOOL, split between USDT (a stablecoin) and ETC tokens. The DAO’s goal is to make ETC a top smart-contract platform known for security and resistance to censorship. They aim for ETC’s value to reach 10 ETC = 1 ETH in the near term.

What this means:
This funding strengthens ETC’s long-term plans, addressing past underinvestment. Half of the treasury is held in ETC, showing confidence in its future value. The DAO’s governance model encourages community-led innovation. (Crypt0_DeFi)

3. HTX Zero-Interest ETC Loans (September 24, 2025)

Overview:
HTX exchange introduced zero-interest loans on ETC and 17 other assets until October 8, allowing users to borrow against their holdings without selling. This move came as the U.S. Federal Reserve cut interest rates, which generally boosts crypto market activity.

What this means:
This is somewhat positive for ETC. More borrowing could increase trading volume and liquidity. However, since this is a short-term incentive, there’s a risk of price swings once the offer ends. The Fed’s rate cut supports a more favorable environment for cryptocurrencies overall. (Decrypt)

Conclusion

Ethereum Classic is benefiting from favorable macro trends like regulatory clarity and Fed policy shifts, along with ecosystem improvements such as increased funding and governance. These factors help ETC maintain its position as a decentralized and immutable blockchain. Still, its price range around $20–$21 (as of October 6, 2025) shows cautious optimism. The big question remains: will ETC’s Proof-of-Work approach catch on as Asia embraces Web3, or will challenges like scalability limit its growth?

What is expected in the development of ETC?

Ethereum Classic’s development is guided by a decentralized community, with important upgrades and initiatives underway.

1. Olympia Upgrade (Late 2026) – Introduces an on-chain treasury, decentralized governance, and new ways to manage transaction fees.
2. EVMC Compatibility (Ongoing) – Keeps Ethereum Classic aligned with Ethereum’s smart contract standards.
3. ETC Grants DAO Funding (2025–2026) – Provides grants to developers and projects to grow the ecosystem.

In-Depth Look

1. Olympia Upgrade (Late 2026)

Overview:
The Olympia Upgrade (ECIP-1111 to 1114) brings major changes to how Ethereum Classic is funded and governed. It introduces a system similar to Ethereum’s EIP-1559 fee model, where 80% of transaction fees are redirected to a treasury controlled by a decentralized autonomous organization (DAO). This upgrade also sets up on-chain governance through the Olympia DAO, allowing the community to have a direct say in funding and project priorities.

What this means:

• Positive: Reliable funding could attract more developers and improve the network’s usefulness.
• Potential Challenges: Delays in rollout or disagreements within the community could slow progress.

2. EVMC Compatibility (Ongoing)

Overview:
Ethereum Classic stays compatible with Ethereum’s Virtual Machine (EVM), the technology that runs smart contracts. This compatibility allows Ethereum Classic to benefit from improvements made on Ethereum and other EVM-based blockchains, like faster transaction methods (Optimistic Rollups). Current efforts focus on ensuring updates don’t break existing smart contracts.

What this means:

• Neutral: Keeps Ethereum Classic connected to the broader Ethereum ecosystem but depends on innovations from other chains.
• Positive: Saves development time and costs by using proven Ethereum technology.

3. ETC Grants DAO Funding (2025–2026)

Overview:
The ETC Grants DAO (EGD) manages a $10 million fund split evenly between Ethereum Classic (ETC) and USDT (a stablecoin). This fund supports projects that improve Ethereum Classic’s security, developer tools, and adoption. Key goals include auditing the total supply of ETC and making mining more decentralized.

What this means:

• Positive: Funding can speed up development in decentralized finance (DeFi) and infrastructure.
• Potential Challenges: Heavy influence from a few major backers, like Bitmain, could centralize decision-making.

Conclusion

Ethereum Classic’s future depends on decentralized governance (via the Olympia Upgrade), maintaining compatibility with Ethereum’s smart contract technology, and community-driven funding. While its flexible approach avoids a rigid roadmap, success will require cooperation among diverse stakeholders. The big question remains: can Ethereum Classic’s commitment to Proof of Work and “Code is Law” principles attract enough developers to compete with Ethereum’s growing ecosystem?

What updates are there in the ETC code base?

Ethereum Classic’s latest software updates focus on improving how the network is governed and funded.

1. Olympia Upgrade (2026) – Adds on-chain voting and a treasury fund controlled by the community.
2. EVM Standard Compliance (2024) – Keeps Ethereum Classic compatible with Ethereum’s technology.

Deep Dive

1. Olympia Upgrade (Expected Late 2026)

Overview:
The Olympia Upgrade will introduce a new way for the community to manage funds and make decisions directly on the blockchain. This is done through four Ethereum Classic Improvement Proposals (ECIPs), including a system that redirects some transaction fees to a community-controlled treasury and allows anyone to propose funding projects.

Details:

• ECIP-1111: Uses a fee system where part of the transaction fees are permanently removed (“burned”) and the rest go into a treasury owned by the protocol.
• ECIP-1113: Creates a decentralized organization (DAO) where holders of Ethereum Classic (ETC) can vote on funding proposals.
• Testnet (Mordor): This upgrade will be tested on a separate network after community feedback, with the goal to launch on the main network by late 2026.

What this means:
This is positive news for ETC because it builds a self-sustaining funding system driven by the community, reducing the need for outside funding. It also strengthens decentralization by giving ETC holders a direct say in how the network evolves.
(Source)

2. EVM Standard Parity (2024)

Overview:
Ethereum Classic continues to stay compatible with Ethereum’s Virtual Machine (EVM), which is the technology that runs smart contracts. This ensures ETC can work alongside Ethereum-based tools while keeping its focus on security and immutability.

Details:

• Past upgrades, like Mystique in 2022, aligned ETC with Ethereum’s London hard fork.
• Upcoming updates will include Ethereum’s Cancún-Deneb (Dencun) improvements, such as proto-danksharding (EIP-4844), after a thorough security review lasting 3 to 6 months.

What this means:
This is neutral for ETC because it keeps the network technically aligned with Ethereum but avoids changes that would conflict with ETC’s Proof-of-Work system. Users benefit from compatibility without compromising ETC’s core principles.
(Source)

Conclusion

Ethereum Classic’s updates highlight a focus on decentralized governance through the Olympia Upgrade and maintaining compatibility with Ethereum’s technology. While the full rollout of Olympia is planned for late 2026, these changes aim to improve the network’s long-term sustainability. The key question remains: how will ETC balance innovation with its “Code Is Law” philosophy as these upgrades move forward?