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Why did the price of ETC go up?

Ethereum Classic (ETC) increased by 3.73% in the last 24 hours, reaching $16.54. This gain outperformed the overall crypto market, which rose by 1.98%. The main reasons behind this rise include strong technical signals, excitement about upcoming protocol upgrades, and growing interest from institutional investors in crypto exchange-traded products (ETPs).

  1. Technical Breakout – ETC’s price moved above important moving averages, indicating positive momentum.
  2. Olympia Upgrade Buzz – The community is discussing new proposals for governance and fee-burning.
  3. ETP Market Growth – FalconX’s purchase of 21shares is boosting confidence in crypto investment products.

Deep Dive

1. Technical Momentum (Positive Signal)

Overview: ETC’s price recently climbed above its 7-day simple moving average (SMA) of $15.80 and exponential moving average (EMA) of $15.88. The MACD indicator, which helps identify trend changes, turned positive (+0.079) for the first time in weeks. The Relative Strength Index (RSI) is between 42 and 46, showing there’s still room for the price to rise without being overbought.

What this means: Traders see the price breaking above the 38.2% Fibonacci retracement level at $16.60 as a key moment. This level, which was a resistance point, is now acting as support. The pivot point at $15.96 also helps limit short-term downside risk.

What to watch: If ETC stays above $17.42 (the 30-day SMA), it could attract more buyers. But if it falls below $16.60, some investors might take profits.

2. Olympia Upgrade Progress (Mixed Outlook)

Overview: The Ethereum Classic community is reviewing the Olympia Upgrade (ECIP-1111 to 1114). This upgrade includes proposals similar to Ethereum’s EIP-1559, such as burning fees to reduce supply, and introduces on-chain decentralized autonomous organization (DAO) governance. Testing on the testnet is planned for late 2026.

What this means: Although the upgrade is still a few years away, its focus on decentralized funding and reducing token supply has generated interest. However, the long timeline means it won’t immediately impact the price.

What to watch: Community feedback on the upgrade proposals and how the network’s hash rate (a measure of security) holds up after the upgrade.

3. Crypto ETP Market Activity (Positive Influence)

Overview: FalconX’s acquisition of 21shares in October 2025, following Bitwise’s purchase of ETC Group in 2024, shows growing institutional demand for crypto ETPs. While this isn’t specific to ETC, it improves sentiment for smaller cryptocurrencies connected to the broader ecosystem.

What this means: Since ETC is compatible with Ethereum’s virtual machine (EVM), it could benefit from the expanding ETP market, especially in Europe where clearer regulations are encouraging investment.

Conclusion

ETC’s recent price increase is driven by a combination of strong technical signals and optimism about its upcoming governance changes. However, overall market caution remains. Key points to watch: Will ETC maintain support above $16.60? And can the Olympia Upgrade timeline speed up to build on this momentum?


What could affect the price of ETC?

Ethereum Classic’s future price depends on upcoming upgrades, its Proof of Work (PoW) security, and market trends.

  1. Olympia Upgrade (2026) – New on-chain governance and fee burning could reduce supply and increase value.
  2. Proof of Work Strength – A big increase in mining power (+103% since 2024) boosts security amid doubts about Proof of Stake (PoS).
  3. Support from Asia’s Regulations – Hong Kong’s friendly Web3 rules may encourage institutions to adopt ETC’s unchangeable blockchain.

In-Depth Look

1. Olympia Upgrade: Funding the Network (Positive Outlook)

What’s happening:
The 2026 Olympia Upgrade will introduce a system similar to Ethereum’s EIP-1559, where a large portion (80%) of transaction fees are burned and sent to a treasury. It also adds decentralized governance through an on-chain DAO (Decentralized Autonomous Organization). This aims to fix funding problems and make ETC a deflationary asset (meaning its supply could shrink over time).

Why it matters:
Burning fees reduces the number of coins miners sell, which can lower selling pressure. The DAO encourages developers to build on ETC by providing funding. Ethereum’s similar upgrade helped create a scarcity effect that supported price increases during bull markets. If ETC sees similar adoption, it could benefit in the same way.

2. Proof of Work vs. Market Trends (Mixed Impact)

What’s happening:
ETC’s mining power (hashrate) doubled to 259 terahashes per second (TH/s) in 2025, making attacks on the network more expensive (about $144,000 per day). For comparison, Bitcoin’s network is much larger and more expensive to attack. However, the overall market is shifting capital back to Bitcoin, putting pressure on smaller PoW coins like ETC.

Why it matters:
Stronger security lowers the risk of attacks, which is good for ETC’s stability. But ETC faces competition from Ethereum’s decentralized finance (DeFi) ecosystem and faster blockchains like Solana. Miners’ loyalty might help keep prices steady during downturns, but without growth in decentralized apps (dApps), ETC’s price gains could be limited.

3. Market Liquidity & Regulation (Potential Challenges)

What’s happening:
Trading volume in crypto spot markets dropped 62% year-over-year by October 2025, and ETC’s price volatility over 30 days is 6.44%. Hong Kong is promoting Web3-friendly regulations, while the U.S. is considering energy rules that could impact PoW mining.

Why it matters:
Lower liquidity usually hits mid-sized coins like ETC the hardest. Its price, around $16 (down 27% from last year), reflects this pressure. However, Asia’s supportive regulatory environment might attract institutional investors looking for secure smart contract platforms like ETC.

Conclusion

Ethereum Classic’s price will likely fluctuate between optimism from protocol upgrades and challenges from broader market conditions. The success of the Olympia DAO in funding development will be key to long-term growth. In the short term, keep an eye on Bitcoin’s market dominance (currently 59.05%). If it falls below 55%, demand for altcoins like ETC could increase.

The big question: Will ETC’s commitment to Proof of Work attract enough developers to balance out declining retail interest?

{{technical_analysis_coin_candle_chart}}


What are people saying about ETC?

The Ethereum Classic (ETC) community is divided between traders focused on price levels and dedicated supporters who believe “Code is Law.” Here’s what’s happening right now:

  1. Traders debate whether the $20 support level will hold or if the price will drop to $19.62
  2. Excitement around the Olympia Upgrade is boosting optimism about long-term governance through the DAO
  3. “Immutability maxis” praise ETC’s decision not to reverse the DAO hack, emphasizing its commitment to code over politics
  4. New exchange listings like Bitstamp are increasing retail interest, despite some selling pressure

In-Depth Look

1. @Crypt0_DeFi: Ethereum Classic’s Immutable Legacy — Bullish

"ETC refused to erase the DAO hack – that’s true decentralization. Code > politics."
– @Crypt0_DeFi (12.3K followers · 47K impressions · 2025-09-09 07:00 UTC)
View original post
What this means: This view supports ETC’s appeal to purists who value decentralization and immutability. However, some critics say this strict approach may limit wider adoption.

2. CoinMarketCap Post: Bearish Breakdown Setup — Bearish

“ETC breaking descending triangle – target $19.62 if $20.25 fails.”
– Technical trader (No follower data · 1.2K impressions · 2025-08-01 11:30 UTC)
What this means: Short-term outlook is negative as ETC struggles to stay above key resistance. Still, the Relative Strength Index (RSI) at 56.29 suggests there could be room for a bounce if the $16.50 support holds.

3. @EthClassicDAO: Olympia Upgrade Goes Live — Bullish

“First-ever PoW DAO treasury – 80% fees fund ecosystem via ETC governance.”
– @EthClassicDAO (8.7K followers · 22K impressions · 2025-07-01 22:51 UTC)
View original post
What this means: This upgrade introduces a new funding model where most fees support the ecosystem through decentralized governance. It’s a positive long-term change, though the full mainnet launch is expected in late 2026.

4. Crypto.News: Post-Rally Profit Taking — Neutral

“ETC hit $24.55 on Bitstamp listing, but exchange netflow hit $10.37M as holders cashed out.”
– Market report (Published 2025-07-18 · 380% volume spike noted)
What this means: After an initial price surge, many investors took profits. However, open interest remains high at $273 million, indicating ongoing market interest.

Conclusion

The outlook for Ethereum Classic is mixed. On one hand, the Olympia Upgrade and DAO governance excite long-term supporters. On the other, short-term traders are watching the $20–$21 range closely as a critical point. Keep an eye on the 30-day RSI, currently at 46 — if it rises above 50 after the upgrade, it could signal growing momentum for ETC’s proof-of-work community.


What is the latest news about ETC?

Ethereum Classic is adapting to changing regulations and improving its technology while addressing past security issues. Here are the key updates:

  1. FalconX Acquires 21Shares (October 23, 2025) – A major U.S. crypto brokerage expands into exchange-traded products (ETPs), showing growing institutional interest in products linked to Ethereum Classic.
  2. ETC Focuses on Hong Kong’s Web3 Hub (September 15, 2025) – Clearer rules in Asia encourage ETC to promote its Proof-of-Work system in the region.
  3. Olympia Upgrade Draft Released (July 1, 2025) – Plans for new governance and funding features are set for rollout in 2026.

In-Depth Look

1. FalconX Acquires 21Shares (October 23, 2025)

Overview
FalconX, a leading U.S. digital asset brokerage, has bought 21Shares, a Swiss company known for crypto exchange-traded products (ETPs), including partnerships like the Ark Invest Bitcoin ETF. This move allows FalconX to enter Europe’s $14 billion crypto ETP market while keeping 21Shares’ operations independent.

What this means
While this doesn’t immediately impact Ethereum Classic, it shows growing interest from big financial players in crypto ETPs, which could eventually include ETC-based products. This acquisition follows Bitwise’s 2024 purchase of ETC Group, indicating a trend of consolidation among crypto asset managers aiming for regulated markets. (Yahoo Finance)

2. ETC Focuses on Hong Kong’s Web3 Hub (September 15, 2025)

Overview
Hong Kong’s new rules for stablecoins and staking have attracted the Ethereum Classic Grants DAO, which plans to support Proof-of-Work adoption in Asia. This effort aligns with a $10 million ecosystem fund pledged by BITMAIN and ANTPOOL in 2022.

What this means
This is a positive sign for Ethereum Classic’s growth in the region. Hong Kong’s clear regulations offer a supportive environment for Proof-of-Work blockchains, unlike the more uncertain regulatory landscape in the U.S. ETC’s “Code Is Law” philosophy may appeal to markets that value decentralization more than Ethereum’s Proof-of-Stake approach. (Community Post)

3. Olympia Upgrade Draft Released (July 1, 2025)

Overview
The Ethereum Classic community has proposed the Olympia Upgrade, which includes a fee-burning mechanism similar to Ethereum’s EIP-1559 (with 80% of base fees going to a decentralized treasury) and on-chain governance through a decentralized autonomous organization (DAO) as outlined in ECIP-1111 to ECIP-1114.

What this means
This upgrade could strengthen Ethereum Classic by creating a sustainable funding source, addressing past challenges with development financing. If launched by late 2026, it may reduce selling pressure by burning fees and give the community more control over development decisions—setting ETC apart from Ethereum’s foundation-led model. (EthClassicDAO)

Conclusion

Ethereum Classic is working to balance partnerships with institutions like FalconX, take advantage of regulatory clarity in places like Hong Kong, and improve its protocol with upgrades like Olympia. While debates about Proof-of-Work security continue, these moves show a commitment to long-term decentralization rather than quick trends. The question remains: can Asia’s supportive regulations help ETC grow despite its slower DeFi development compared to Ethereum?


What is expected in the development of ETC?

Ethereum Classic (ETC) is moving forward with key updates:

  1. Olympia Upgrade (End of 2026) – Adds on-chain community governance and a system to redirect fees to fund development.
  2. Layer 2 Integration (Long-term) – Plans to use Optimistic Rollups to improve transaction speed and scalability.
  3. Versioning System (Under Discussion) – A way to upgrade the Ethereum Virtual Machine (EVM) without breaking existing smart contracts.

In-Depth Look

1. Olympia Upgrade (End of 2026)

What it is: The Olympia Upgrade will bring new features to Ethereum Classic through four Ethereum Classic Improvement Proposals (ECIPs):

Why it matters:

2. Layer 2 Integration (Long-term)

What it is: Ethereum Classic plans to adopt Optimistic Rollups, a technology that processes transactions off the main blockchain to increase speed and lower costs. Because ETC is compatible with Ethereum’s EVM, it can benefit from innovations developed for Ethereum and other blockchains.

Why it matters:

3. Versioning System (Under Discussion)

What it is: This idea involves creating a versioning system for the Ethereum Virtual Machine (EVM), allowing smart contracts to specify which version they run on. This would let ETC upgrade its technology without breaking older contracts, staying true to its principle that “Code is Law.”

Why it matters:

Conclusion

Ethereum Classic’s roadmap focuses on keeping the network decentralized while making gradual improvements in governance, scalability, and compatibility. The Olympia Upgrade in 2026 is the next major milestone to watch.

An open question remains: How will ETC’s Proof-of-Work security hold up as other blockchains move away from mining?

{{technical_analysis_coin_candle_chart}}


What updates are there in the ETC code base?

Ethereum Classic (ETC) is preparing for its biggest upgrade yet, called the Olympia Upgrade.

  1. Olympia Upgrade (End of 2026) – Introduces on-chain decentralized governance and a protocol-level treasury system.
  2. EVM EOF Compatibility (2024) – Aligns technically with Ethereum’s Cancún upgrade.
  3. Historical EVM Parity Upgrades – Keeps compatibility with Ethereum’s core features.

In-Depth Look

1. Olympia Upgrade (End of 2026)

What it is: The Olympia Upgrade will bring four key Ethereum Classic Improvement Proposals (ECIPs) that aim to decentralize how the network is funded and governed.

Why it matters: This upgrade is positive for ETC because it addresses long-standing funding issues and supports the network’s principle of “Code Is Law.” Decentralized governance could attract developers and users who want a proof-of-work (PoW) blockchain driven by its community.
(Source)

2. EVM EOF Compatibility (2024)

What it is: ETC will adopt changes from Ethereum’s Cancún upgrade, focusing on improvements to the Ethereum Virtual Machine Object Format (EVM EOF).

Key updates include:

Why it matters: These are technical upgrades that don’t change ETC’s core model but keep it compatible with Ethereum’s decentralized apps (dApps). This helps developers build across both networks while ETC maintains its PoW security.

3. Historical EVM Parity Upgrades

Ethereum Classic has regularly updated to match Ethereum’s major upgrades, ensuring compatibility with Ethereum’s ecosystem:

Why it matters: Staying compatible with Ethereum’s tools and dApps is important for developers who work on both chains, keeping ETC relevant and accessible.

Conclusion

The Olympia Upgrade represents a major step for Ethereum Classic toward sustainable, decentralized governance while keeping its proof-of-work foundation. By maintaining EVM compatibility and introducing a treasury system, ETC is positioning itself as a strong, community-owned smart contract platform.

How will on-chain DAO governance change ETC’s ecosystem compared to Ethereum’s validator-based system?