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Why did the price of ETC fall?

Ethereum Classic (ETC) dropped 1.53% in the last 24 hours, underperforming the overall crypto market, which fell by 0.61%. This decline is driven by technical resistance levels, ongoing security concerns, and a cautious attitude toward altcoins.

  1. Technical Challenges – ETC is struggling to stay above important price averages and key retracement levels.
  2. Security Worries – Past 51% attacks on ETC continue to affect investor confidence.
  3. Market Mood – Altcoins like ETC face pressure as Bitcoin’s market share rises to 59.23%.

Deep Dive

1. Technical Resistance (Negative Impact)

Overview: ETC is facing resistance near its 30-day simple moving average (SMA) at $17.22 and the 38.2% Fibonacci retracement level at $16.60. Currently, ETC is trading at $16.02, below both these levels, indicating downward momentum. The Relative Strength Index (RSI) is at 42.55, which means the coin is not oversold yet, so there could be more room to fall.

What this means: Traders who use technical analysis may see this as a sign that buyers are hesitant, especially after ETC’s 23% drop over the past two months. A descending triangle pattern, identified in recent analysis (August 1), suggests ETC might test the $15.39 support level (the 50% Fibonacci retracement) if selling continues.

2. Security Concerns Resurface (Negative Impact)

Overview: Recent articles (October 15) have brought attention back to ETC’s vulnerability to 51% attacks. These attacks allow bad actors to double-spend coins, and ETC has experienced such incidents in the past. Although no new attacks have happened recently, the concern remains.

What this means: Security risks continue to weigh on ETC’s reputation, especially as newer blockchains use more advanced security methods. Some exchanges, like Coinbase, have increased the number of confirmations required for ETC transactions after past attacks, which can reduce trading activity and liquidity.

3. Altcoin Weakness (Negative Impact)

Overview: The CoinMarketCap (CMC) Altcoin Season Index is at 27, indicating it’s currently “Bitcoin Season,” when Bitcoin outperforms altcoins. ETC’s 24-hour trading volume is $121 million, which is low compared to leading altcoins. Its turnover ratio of 4.9% also points to limited liquidity.

What this means: In times of market caution, investors tend to move money out of mid-sized altcoins like ETC and into Bitcoin. Bitcoin’s dominance reaching a four-month high of 59.23% intensifies this trend, making ETC more vulnerable to price swings on low trading volume.

Conclusion

ETC’s recent decline is due to a combination of technical challenges, ongoing security concerns, and a cautious market environment. While ETC’s proof-of-work (PoW) model and “Code is Law” philosophy still attract a dedicated group of supporters, the lack of immediate positive developments and competition from Ethereum’s ecosystem limit its growth potential.

Key level to watch: Can ETC hold the $15.39 Fibonacci support? If it breaks below this, selling pressure could increase, pushing prices toward the yearly low of $10.24.

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What could affect the price of ETC?

Ethereum Classic’s price is caught between promising upgrades and ongoing risks.

  1. Olympia Upgrade (2026) – New protocol features like fee burns and decentralized funding could increase demand.
  2. Proof-of-Work Security – Higher mining power improves security but risks of 51% attacks remain, affecting investor trust.
  3. Asia’s Regulatory Changes – Hong Kong’s new Web3 rules may encourage more institutional investment.

Deep Dive

1. Olympia Upgrade: Protocol-Level Funding (Positive Outlook)

Overview:
The Olympia Upgrade, planned for late 2026, will introduce a system similar to Ethereum’s EIP-1559 fee burns. About 80% of transaction fees will be burned and redirected to a decentralized treasury managed by a community DAO (Decentralized Autonomous Organization). This setup aims to reduce the circulating supply of Ethereum Classic (ETC) and fund ecosystem projects directly.

What this means:
Burning fees can create scarcity, potentially increasing ETC’s value over time. The DAO governance model may attract developers by providing steady funding, addressing past challenges with underfunding. However, since the upgrade is still about a year away from mainnet activation, there’s a risk that excitement might build faster than actual progress.

2. Proof-of-Work Dynamics (Mixed Impact)

Overview:
Ethereum Classic continues to use Proof-of-Work (PoW) mining, even after Ethereum switched to Proof-of-Stake. Since 2022, ETC’s mining power (hashrate) has doubled, which should improve network security. However, PoW blockchains like ETC remain vulnerable to 51% attacks, where a single entity controls the majority of mining power and can manipulate transactions. ETC experienced three such attacks in 2020, leading some exchanges to delist it (The Defiant).

What this means:
While PoW appeals to those who value decentralization, ongoing security concerns may discourage large institutional investors. The cost to carry out a 51% attack on ETC is around $144,000, much lower than Bitcoin’s $6 billion, making ETC more vulnerable to short-term price swings from potential exploits. Bitmain’s $10 million fund to support the ETC ecosystem helps offset some concerns (Crypt0_DeFi).

3. Regulatory & Market Positioning (Positive Catalyst)

Overview:
Hong Kong has introduced new Web3 regulations that explicitly recognize PoW blockchains like Ethereum Classic. These rules include tax benefits for investors in ETC-related products. Additionally, ETC’s “Code Is Law” philosophy aligns well with Asia’s increasing institutional interest in blockchain technology.

What this means:
Clearer regulations reduce uncertainty, which could attract more investment from Asian institutions. ETC’s recent listing on Bitstamp (Bitstamp) improves its liquidity. However, competition from Ethereum’s Layer 2 solutions limits ETC’s growth in decentralized finance (DeFi).

Conclusion

Ethereum Classic’s 2026 Olympia upgrade and continued use of Proof-of-Work provide potential long-term value. Still, security risks and Ethereum’s dominance in smart contracts limit ETC’s upside. Traders should watch for Olympia’s testnet progress in early 2026 and new ETC investment products in Hong Kong. The key question remains: will protocol-level funding finally boost developer activity, or will ETC stay a niche project driven by ideology?


What are people saying about ETC?

The Ethereum Classic (ETC) community is divided between strong idealism and active trading debates. Here’s what’s currently trending:

  1. Excitement around the Olympia Upgrade – New on-chain governance and fee-burning features are boosting long-term confidence.
  2. “Code is Law” loyalty – Supporters value ETC’s commitment to immutability as a key strength.
  3. Price battle between $20 and $25 – Traders are debating whether ETC will break down or bounce back.
  4. Skeptical memes – Critics poke fun at those going “all-in” on ETC amid a tough market for alternative coins.

Deep Dive

1. @EthClassicDAO: Protocol-Level Funding Revolution Bullish

“Olympia Upgrade introduces EIP-1559 fee burns (80% to treasury) + on-chain DAO governance. Mainnet activation targeted for late 2026.”
– @EthClassicDAO (12.3K followers · 58K impressions · 2025-07-01 22:51 UTC)
View original post
What this means: This is positive for ETC because it could create a steady funding source through fee burns and decentralized governance. This helps reduce selling pressure from developer grants and aligns incentives, which is important for a proof-of-work blockchain competing with Ethereum’s large ecosystem.

2. @Crypt0_DeFi: Immutability as a Virtue Bullish

“ETC refused to reverse the DAO hack – ‘Code is Law’ isn’t a slogan, it’s a $15B market cap blockchain’s backbone.”
– @Crypt0_DeFi (8.1K followers · 23K impressions · 2025-09-09 07:00 UTC)
View original post
What this means: ETC’s strict commitment to immutability appeals to those who prioritize decentralization above all else. This is a strength for ETC’s unique position, though it also means less flexibility during crises compared to Ethereum’s history of making changes through hard forks.

3. CoinMarketCap Post: Breakdown Fears Bearish

“ETC struggles below $20.25 – descending triangle suggests $19.62 target if support breaks.”
– Technical Analyst (4.2K followers · 12K impressions · 2025-08-01 11:30 UTC)
View original post
What this means: This is a short-term negative signal. ETC’s price has dropped 24% over the last 60 days compared to Ethereum. If the $19.62 support level breaks, automated trading systems could push the price even lower.

4. @xpugHODL: Community Polarization Mixed

“My reaction when someone I thought I’d orange pilled says they’re all in on Ethereum Classic 😬”
– @xpugHODL (16.8K followers · 189K impressions · 2025-10-26 18:30 UTC)
View original post
What this means: This shows mixed feelings within the community. While ETC has dedicated supporters, its slower ecosystem growth compared to Ethereum and its Layer 2 solutions makes going “all-in” a controversial move, even among experienced crypto users.

Conclusion

The outlook for Ethereum Classic is mixed. On one side, there are believers in its “Code is Law” philosophy; on the other, traders are frustrated by its weaker price performance. Keep an eye on the Olympia Upgrade testnet progress through late 2025. If the new decentralized governance works well, it could boost developer interest. But delays might worsen the current bearish trends. For now, ETC remains a high-conviction, slow-moving option in a market that favors fast-changing stories.


What is the latest news about ETC?

Ethereum Classic is navigating big moves by institutions, important software upgrades, and changing regulations. Here’s what’s new:

  1. FalconX Buys 21Shares (October 23, 2025) – Expanding crypto exchange-traded products (ETPs) in the U.S., showing growing interest from big investors.
  2. Olympia Upgrade Proposed (July 1, 2025) – Introducing new funding methods and decentralized governance.
  3. ETC Expands in Asia via Hong Kong (September 15, 2025) – Taking advantage of new Web3 rules to grow its Proof of Work network.

In-Depth Look

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

What happened: FalconX, a U.S.-based digital asset brokerage, acquired 21Shares, a Swiss company that issues crypto ETPs. This follows Bitwise’s 2024 purchase of ETC Group, combining expertise across the Atlantic. 21Shares will keep running independently, continuing to offer Bitcoin, Ethereum, and Ethereum Classic (ETC) ETPs.
Why it matters: This deal could help Ethereum Classic get more attention in regulated markets, especially as U.S. companies use European crypto products. However, it’s unclear if this will directly affect ETC’s price or trading volume. (Yahoo Finance)

2. Olympia Upgrade Proposed (July 1, 2025)

What happened: Ethereum Classic introduced the Olympia Upgrade, which includes a system similar to Ethereum’s EIP-1559 fee model. It will burn 80% of base transaction fees and send the rest to a treasury controlled by a decentralized autonomous organization (DAO). Testing started in July, with full rollout expected by late 2026.
Why it matters: This upgrade aims to fix funding problems by creating a treasury to support developers and projects. Burning fees could slightly reduce the total supply of ETC, potentially increasing its value. But success depends on community approval. (ECIPs Discussion)

3. ETC Expands in Asia via Hong Kong (September 15, 2025)

What happened: The ETC Grants DAO (EGD) announced plans to grow in Hong Kong, taking advantage of the city’s new Web3 regulations. BITMAIN and ANTPOOL invested $10 million to support projects that focus on ETC’s “Code is Law” principle and Proof of Work security.
Why it matters: Clearer rules in Asia could make Ethereum Classic a strong Proof of Work alternative to Ethereum. However, it faces tough competition from local blockchains like VeChain. EGD’s goal to reach a price where 10 ETC equals 1 ETH (around $160 compared to the current $15.92) is very ambitious. (Crypto DeFi)

Conclusion

Ethereum Classic is balancing partnerships with big players, updating its technology, and expanding into new regions. The Olympia Upgrade and Hong Kong expansion show promise, but ETC’s price drop of 27% this year shows some investors remain cautious. The big question is whether ETC’s commitment to Proof of Work will attract enough developers to compete with other blockchains.


What is expected in the development of ETC?

Ethereum Classic is focused on improving decentralized governance and making gradual upgrades to its network.

  1. Olympia Upgrade (End of 2026) – Introduces on-chain voting through a decentralized autonomous organization (DAO) and a treasury system to manage funds.
  2. EVM Versioning (No Date) – Allows older smart contracts to keep working while supporting new upgrades.
  3. Network Security (Ongoing) – Enhances security by encouraging miners to join and improving the proof-of-work system.

Deep Dive

1. Olympia Upgrade (End of 2026)

Overview: The Olympia Upgrade brings four Ethereum Classic Improvement Proposals (ECIPs) that aim to decentralize how the network is funded and governed. It changes the way transaction fees are handled by redirecting them to a treasury instead of burning them, introduces on-chain voting through a DAO, and allows anyone to propose funding projects. Testing will begin in late 2025, with the full upgrade expected by the end of 2026.
What this means: This upgrade is positive for Ethereum Classic because it reduces the risk of centralized control over funds and gives $ETC holders more say in the network’s future. However, reaching agreement within the community could delay the timeline.

2. EVM Versioning (No Date)

Overview: This proposal aims to support multiple versions of the Ethereum Virtual Machine (EVM) on Ethereum Classic. This means older smart contracts can continue running without changes, while new contracts can take advantage of upgrades. It solves problems caused by past hard forks that made some contracts incompatible.
What this means: In the short term, this won’t impact the price much, but it’s a positive step for the long term. It keeps Ethereum Classic’s principle of “Code is Law” intact while allowing for innovation. The upgrade depends on developer availability and community approval.

3. Network Security (Ongoing)

Overview: After Ethereum switched to proof-of-stake, many miners using GPUs moved to Ethereum Classic, increasing its network security by about 300 times since 2023. There are also plans to fix the block size at 8 million gas units to limit miner influence on the network.
What this means: This is good news for network security, making attacks harder. However, miners might resist changes that limit their control. A stronger network helps protect against 51% attacks, which are a major risk if Ethereum’s proof-of-stake system faces problems.

Conclusion

Ethereum Classic’s roadmap focuses on decentralized governance (Olympia), technical stability (EVM versioning), and strong proof-of-work security. These upgrades align with its core belief that “Code is Law.” While the timeline depends on community agreement, these improvements could help Ethereum Classic maintain its position as a reliable and conservative smart contract platform. The key question is whether miner support and DAO governance will attract enough developers to compete with Ethereum’s larger ecosystem.


What updates are there in the ETC code base?

Ethereum Classic (ETC) is moving forward with important updates to its network and governance.

  1. Olympia Upgrade Drafts (July 2025) – Introduces a decentralized funding system and on-chain voting for ETC holders.
  2. EVM EOF Compatibility (2024) – Updates smart contract technology to match Ethereum’s Cancún upgrade, improving efficiency.

Deep Dive

1. Olympia Upgrade Drafts (July 2025)

Overview:
The Olympia Upgrade aims to create a decentralized treasury and a governance system run by ETC holders. This means ETC owners can help decide how funds are used and which projects get support.

The upgrade is based on four Ethereum Classic Improvement Proposals (ECIPs):

Why it matters:
This is a positive step for ETC because it gives the community more control over funding and development, reducing dependence on outside grants. The upgrade is still being tested and is expected to launch on the main network by late 2026.
(Source)

2. EVM EOF Compatibility (2024)

Overview:
ETC plans to adopt changes from Ethereum’s Cancún upgrade, including the Ethereum Virtual Machine Object Format (EVM EOF). This update improves how smart contracts run and are checked for errors.

Key improvements include:

Why it matters:
This update keeps ETC compatible with Ethereum’s technology while staying true to its Proof of Work approach. It’s a neutral change that improves efficiency without altering ETC’s core values. The upgrade is expected by mid-2024 after security reviews.
(Source)

Conclusion

Ethereum Classic is carefully balancing innovation with its foundational principles. The Olympia upgrade will give the community more say in funding and development, while the EVM EOF update keeps ETC aligned with Ethereum’s technology. It will be interesting to see how community-driven funding shapes ETC’s future starting in 2026.