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Why did the price of ETC go up?

Ethereum Classic (ETC) increased by 1.05% in the past 24 hours, slightly outperforming the overall cryptocurrency market, which rose by 1.26%. While short-term signals are mixed, three main points stand out:

  1. Technical Rebound: Buyers stepped in to support key price levels after a long decline.
  2. Market-Wide Optimism: A surge in crypto trading volume to $170 billion (+54%) suggests renewed interest in riskier assets.
  3. Olympia Upgrade Talks: Discussions about a major ETC upgrade planned for 2026 have picked up again.

Deep Dive

1. Technical Rebound (Neutral Impact)

Overview: ETC found support near $15.39, which is an important technical level, after dropping 33% over the last 90 days. The Relative Strength Index (RSI), a tool that measures if an asset is overbought or oversold, moved out of the oversold zone, indicating that selling pressure may be easing.

What this means: It’s common to see small price recoveries after big drops, but low trading volume (3.8%) means the market is thin and price swings can be exaggerated. For a stronger trend reversal, ETC needs to close above its 30-day moving average at $18.06.

Key level to watch: $16.60 – breaking above this could force bearish traders to exit their positions.

2. Broader Market Sentiment Shift (Bullish Impact)

Overview: The total value of all cryptocurrencies increased by 1.26% on October 20, led by Bitcoin (+1.4%) and Ethereum (+1.1%). ETC’s gain was smaller than the biggest coins but better than many mid-sized altcoins.

What this means: ETC’s rise reflects a broader return of confidence after a recent $19 billion liquidation event in the crypto market (Crypto.news). However, the Fear & Greed Index remains at 30 out of 100, indicating that investors are still cautious.

3. Olympia Upgrade Discussions Resurface (Bullish Impact)

Overview: There’s renewed community interest in ETC’s planned 2026 Olympia upgrade. This upgrade aims to improve the network by introducing new funding methods through fee burning and decentralized governance (ECIP-1111).

What this means: Although the upgrade is still years away, talk of reducing the supply of ETC by burning fees (up to 80%) may be attracting buyers who believe in the long-term value. However, ETC’s developer activity is currently low compared to other projects, so real progress will be needed to keep momentum going.

Conclusion

ETC’s recent gain is driven by a mix of technical buying and positive sentiment spilling over from Bitcoin’s recovery, along with excitement about its future upgrade plans. Still, with the RSI below 40 and a 30-day loss of over 20%, this rally lacks strong conviction.

Key watch: Can ETC stay above $16.60 while Bitcoin dominance remains high at nearly 59%? If not, ETC could retest support near $14.17.


What could affect the price of ETC?

Ethereum Classic is balancing upcoming protocol upgrades with ongoing market doubts.

  1. Olympia Upgrade (2026) – New governance and fee-burning features could reduce supply
  2. Security Risks – The cost to launch a 51% attack remains low ($144k), despite increased network power
  3. Asia Expansion – Hong Kong’s focus on Web3 supports ETC’s proof-of-work approach

Deep Dive

1. Protocol-Level Funding Reform (Positive Outlook)

Overview: The Olympia Upgrade, planned for late 2026, will introduce fee burning similar to Ethereum’s EIP-1559. About 80% of base transaction fees will be sent to a decentralized treasury, alongside on-chain DAO governance. This aims to reduce ETC’s supply and fix its ongoing funding challenges.

What this means: By burning fees, miners will sell less ETC, and the treasury will provide steady funding for the ecosystem. Ethereum’s similar upgrade led to a 4.6x price increase within a year, suggesting potential for ETC.

2. Persistent Security Concerns (Negative Outlook)

Overview: ETC is still vulnerable to 51% attacks, where someone gains control of the network. As of October 2025, it costs about $144,000 per day to carry out such an attack (The Defiant). Although ETC’s mining power has tripled since Ethereum’s switch to proof-of-stake, attacking ETC is still 300 times cheaper than attacking Bitcoin.

What this means: These security risks could lead to exchanges removing ETC or reducing liquidity. For example, Coinbase requires 11-hour confirmation times for ETC transactions (The Defiant), which discourages traders.

3. Asian Regulatory Tailwinds (Mixed Outlook)

Overview: Hong Kong’s new Web3 regulations favor proof-of-work blockchains like ETC because they are easier to audit. BITMAIN/ANTPOOL has committed $10 million to support ETC’s growth in the region (Crypt0_DeFi).

What this means: While this could increase institutional interest, ETC faces competition from other chains favored by China, such as Conflux. ETC’s success will depend on proving it can support advanced smart contracts for business use, not just its ideological stance.

Conclusion

ETC’s future price depends on successfully implementing the Olympia upgrade to limit supply and improving its security reputation. The $16 price level is a key support point; falling below $14.17 could lead to faster declines, while holding $16 might enable rallies driven by DAO governance. The big question: Can Ethereum Classic evolve from a “code is law” pioneer into a treasury-backed proof-of-work innovator by 2026?


What are people saying about ETC?

The Ethereum Classic (ETC) community is divided between a strong commitment to its core principles and uncertain price movements. Here’s the latest buzz:

  1. Supporters who believe “Code is Law” celebrate ETC’s unchangeable blockchain
  2. Traders are debating whether ETC will hold the $19.62 support level or break above $28
  3. The upcoming Olympia Upgrade is raising hopes for improved governance through a decentralized autonomous organization (DAO)

Deep Dive

1. @EthClassicDAO: Olympia Upgrade roadmap revealed (positive outlook)

"First-ever on-chain treasury + DAO native to Proof-of-Work Ethereum"
– @EthClassicDAO (12K followers · 58K impressions · 2025-07-01 22:51 UTC)
View original post
What this means: The planned governance update for 2026 aims to solve ETC’s past funding problems by introducing an on-chain treasury and DAO. However, this upgrade is still about a year away from going live.

2. @Crypt0_DeFi: ETC’s “Code is Law” principle as a Web3 solution (positive outlook)

"They kept the history exactly as it was... trust, fairness, true decentralization"
– @Crypt0_DeFi (8.2K followers · 23K impressions · 2025-09-09 07:00 UTC)
View original post
What this means: ETC supporters see it as a strong ideological alternative to Ethereum’s shift to Proof-of-Stake (PoS), emphasizing trust and decentralization. However, actual user adoption hasn’t fully matched this enthusiasm yet.

3. CoinMarketCap Trader: Technical analysis points to $19.62 support test (cautious outlook)

"Price struggling below $20.25 with weak bounces" (2025-08-01 11:30 UTC)
View analysis
What this means: Chart patterns suggest there’s about a 2.8% chance the price could drop from the current $16.08 if the bearish trend continues. The Relative Strength Index (RSI) at 41 indicates the coin isn’t oversold yet, so further declines are possible.

Conclusion

The outlook for $ETC is mixed. Developers highlight its commitment to Proof-of-Work and upcoming governance improvements, while traders remain cautious due to weakening price trends. Keep an eye on the $19.62 to $21.50 range this week: Holding above this could support optimism around the DAO upgrade, but falling below might test the yearly low of $15.78 set in July. The big question remains—can ETC’s principle of immutability lead to stronger market momentum?


What is the latest news about ETC?

Ethereum Classic (ETC) is working on security improvements and growing its ecosystem, even as it faces ongoing risks from 51% attacks. Here’s the latest update:

  1. Olympia DAO Governance Proposal (July 1, 2025) – A new plan for decentralized funding and governance is now open for community feedback.
  2. Tether Ends USDT Support (August 30, 2025) – ETC loses stablecoin liquidity on five blockchains as Tether stops supporting USDT on ETC.
  3. ETC Grants DAO Expansion (September 15, 2025) – A $10 million fund is set up to boost ETC’s Proof-of-Work ecosystem in Asia.

Deep Dive

1. Olympia DAO Governance Proposal (July 1, 2025)

Overview:
The Ethereum Classic community introduced the Olympia Upgrade, which adds a decentralized treasury and on-chain governance to the protocol. This means 80% of the base transaction fees will go into a community-controlled fund. Anyone can propose projects for funding, making development decisions more democratic.

What this means:
This upgrade is positive for ETC’s future because it solves long-standing funding issues while staying true to its principle of “Code Is Law” — meaning the rules set by the code are final. However, there are risks in rolling out such changes, with the full upgrade expected by late 2026. (EthClassicDAO)

2. Tether Ends USDT Support (August 30, 2025)

Overview:
Tether stopped supporting USDT stablecoins on Ethereum Classic and four other blockchains to simplify their operations. As a result, most USDT liquidity moved to Ethereum and Binance Smart Chain, reducing ETC’s use in decentralized finance (DeFi).

What this means:
This is a short-term setback because ETC loses an important stablecoin that helps with trading and liquidity. However, the ETC Grants DAO plans to encourage other stablecoins to join ETC’s network, which could help recover some of this lost utility. (Bitget)

3. ETC Grants DAO Expansion (September 15, 2025)

Overview:
The ETC Grants DAO received extra funding from BITMAIN/ANTPOOL to grow ETC’s Proof-of-Work infrastructure, especially in Hong Kong and across Asia. This includes grants for developers, support for mining equipment, and partnerships with Web3 regulatory groups.

What this means:
This is a positive move for ETC’s adoption, especially with Hong Kong’s new supportive crypto regulations. The DAO’s goal of valuing 10 ETC equal to 1 ETH shows confidence in ETC’s role as a Proof-of-Work smart contract platform. (Crypt0_DeFi)

Conclusion

Ethereum Classic is balancing big upgrades like the Olympia DAO with challenges like losing Tether’s USDT support. Its focus on growth in Asia signals a strategic shift. While security risks from 51% attacks remain, ETC’s commitment to Proof-of-Work attracts supporters who value decentralization. Will ETC be able to use favorable regulations in Asia to make up for its shrinking stablecoin options?


What is expected in the development of ETC?

Ethereum Classic (ETC) is focusing on decentralized decision-making and gradual improvements. Here are the key upcoming developments:

  1. Olympia Upgrade (End of 2026) – Introduces on-chain DAO governance and updates the fee system with EIP-1559.
  2. Layer 2 Expansion (Ongoing) – Adds Optimistic Rollups to improve scalability.
  3. Miner Migration Incentives (After Ethereum’s Merge) – Encourages miners who left Ethereum’s old system to support ETC.

In-Depth Look

1. Olympia Upgrade (End of 2026)

What It Is
The Olympia Upgrade, proposed through ECIPs 1111-1114, will bring new funding and governance features directly into the Ethereum Classic protocol. Key points include:

Why It Matters
This upgrade is positive for ETC because it creates a sustainable funding source while keeping the network decentralized. However, reaching agreement within the community might delay the timeline.

2. Layer 2 Expansion (Ongoing)

What It Is
Ethereum Classic is working to add Optimistic Rollups, a technology that helps increase transaction speed and reduce costs. This is based on Ethereum’s existing Layer 2 solutions like Arbitrum. Developers are adjusting these tools to work with ETC’s Proof-of-Work system, aiming for testnet releases by mid-2026.

Why It Matters
This could improve ETC’s ability to handle decentralized finance (DeFi) and NFTs by making transactions faster and cheaper. However, because ETC updates more slowly than Ethereum, early adoption might be limited. Success depends on developer interest and community support.

3. Miner Migration Incentives (After Ethereum’s Merge)

What It Is
After Ethereum switched to Proof-of-Stake (PoS), many GPU miners moved to Ethereum Classic, increasing its mining power by 300% since 2022. The ETC community is exploring:

Why It Matters
This strengthens network security but raises concerns if mining power becomes too concentrated. Maintaining a balanced and stable mining environment will be important after 2026.

Conclusion

Ethereum Classic’s roadmap aims to balance decentralization with practical upgrades. The Olympia Upgrade focuses on sustainable funding, while Layer 2 solutions target scalability. Although timelines may shift due to community-driven decisions, ETC’s goal to serve as a reliable alternative for Ethereum traditionalists could ensure its long-term relevance. The success of the DAO governance model will depend on active community participation to keep the project moving forward.


What updates are there in the ETC code base?

Ethereum Classic (ETC) is moving forward with its biggest protocol upgrade in years.

  1. Olympia Upgrade Drafted (July 2025) – This update introduces fee burning, decentralized governance through a DAO, and new ways to fund the network.

Deep Dive

1. Olympia Upgrade Drafted (July 2025)

Overview:
The Olympia Upgrade is a set of improvements designed to make Ethereum Classic more self-sufficient and community-driven. It includes burning a portion of transaction fees, creating a treasury funded by the network itself, and allowing all ETC holders to vote on decisions directly on the blockchain.

Key Features:

What this means:
This upgrade is positive for ETC because it aligns the interests of miners, developers, and holders while reducing the need for outside funding. Burning fees could reduce the total supply over time, potentially increasing value. Plus, on-chain voting may attract developers who prioritize decentralization.

Testing is currently happening on test networks, with the goal to launch on the main Ethereum Classic network by late 2026 (Source).

Conclusion

The Olympia Upgrade aims to make Ethereum Classic a rare example of a self-funded, community-governed blockchain running on Proof-of-Work. While there are risks in rolling out these changes, focusing on protocol-level funding and immutability strengthens ETC’s unique position. The big question is whether decentralized governance can help Ethereum Classic stay relevant in a world where Proof-of-Stake networks dominate.