Why did the price of ETC go up?

Ethereum Classic (ETC) jumped 27.78% in just 24 hours, fueled by renewed interest in its Proof-of-Work approach, key technical price movements, and positive developments in its ecosystem.

1. Market Reaction to Ethereum’s Integrity Debate – Comments by Ethereum co-founder Vitalik Buterin about Ethereum’s “incorruptibility” sparked discussions, highlighting ETC as the original, unchanged blockchain since the 2016 DAO hack.
2. Technical Breakout – ETC’s price broke through an important resistance level at $18.11, showing strong upward momentum.
3. Ecosystem Growth – New cross-chain features and $10 million in funding for ETC projects boosted confidence.
4. Mining Activity Surge – The network’s mining power has doubled since early 2024, indicating growing strength.

Deep Dive

1. Ethereum’s Integrity Debate (Positive for ETC)

Overview: On November 2, a news article brought attention to debates about Ethereum’s immutability after Vitalik Buterin described Ethereum as “incorruptible.” Critics, including Bitcoin supporters, pointed to the 2016 DAO hack and the resulting hard fork—which created Ethereum Classic—as proof that Ethereum’s blockchain can be changed. This renewed interest in ETC as the original, unaltered blockchain.

What this means: ETC is seen as a “pure” version of Ethereum, appealing to those who prioritize decentralization and blockchain immutability. This narrative helped drive ETC’s recent price increase, as some investors viewed it as a way to bet against Ethereum’s changes.

2. Technical Breakout (Mixed Signals)

Overview: ETC’s price moved above its 7-day simple moving average (SMA) of $15.29 and tested the 23.6% Fibonacci retracement level at $18.11. The Relative Strength Index (RSI) is neutral at 37.55, but the Moving Average Convergence Divergence (MACD) indicator shows bearish divergence.

What this means: Short-term traders likely pushed the price higher, seeing the breakout as a buying opportunity. However, the MACD’s negative reading suggests caution, as it points to possible price volatility ahead.

What to watch: If ETC can stay above $18.11, the next target could be $20.54. If it falls below, a pullback to $16.60 is possible.

3. Ecosystem Developments (Positive Outlook)

Overview: Recent improvements include the launch of cross-chain swaps through Nabox Wallet in September 2025 and $10 million in funding secured by the ETC Grants DAO from BITMAIN/ANTPOOL. Additionally, Hong Kong’s supportive Web3 regulations have brought attention to ETC’s Proof-of-Work model in Asia.

What this means: These developments improve ETC’s usability and financial backing, signaling potential for long-term growth. The support from Hong Kong highlights regional interest in decentralized networks, especially as Ethereum moves to a Proof-of-Stake system.

Conclusion

ETC’s recent price surge is driven by a combination of ideological support, technical momentum, and strategic ecosystem upgrades. While the short-term outlook is positive, investors should watch if ETC can maintain its breakout and whether ongoing developer activity leads to broader adoption.

Key watch: Can ETC hold above $18.11? And will the upcoming Olympia Upgrade, planned for late 2026, become an important step in ETC’s governance?

What could affect the price of ETC?

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

1. Olympia Upgrade (2026) – New on-chain governance and fee-burning features could reduce supply.
2. Proof-of-Work Focus – Seen as a secure but energy-intensive alternative as Ethereum moves to Proof-of-Stake.
3. Market View – Often called a “dead chain” despite a $10 million fund to boost its ecosystem.

Deep Dive

1. Protocol-Level Upgrades (Potential Positive Impact)

Overview:
The upcoming Olympia Upgrade, planned for late 2026, will introduce fee-burning similar to Ethereum’s EIP-1559 (where 80% of base fees go to a treasury) and on-chain governance through a decentralized autonomous organization (DAO) called the Ethereum Classic DAO. This aims to reduce supply growth and give the community more control over funding decisions.

What this means:
Burning fees could slow down ETC’s current annual supply increase of about 3.7%, especially if more people start using it. The DAO could attract developers, but ETC’s $273 million developer fund (Crypt0_DeFi) needs to show real project successes to change the perception that the network is inactive.

2. Proof-of-Work Positioning (Mixed Outlook)

Overview:
Ethereum Classic promotes itself as Ethereum’s “immutable” Proof-of-Work (PoW) alternative. Since Ethereum’s switch to Proof-of-Stake (PoS) in 2022, ETC’s mining power has increased by 525%. However, PoW is under pressure from regulators and environmental advocates due to its energy use.

What this means:
Security is a key factor—while a 51% attack on ETC costs about $144,000 per day, it’s much cheaper than Bitcoin’s $6 billion daily cost (The Defiant). This appeals to those who value decentralization, but ETC’s daily trading volume of $438 million (only 5% of Ethereum’s) shows it still has limited market presence.

3. Market Sentiment & Competition (Potential Risks)

Overview:
About 37% of recent articles call ETC a “dead token” (CCN), pointing to low decentralized finance (DeFi) activity compared to Ethereum’s $65 billion total value locked (TVL).

What this means:
ETC’s strict “Code is Law” philosophy faces challenges from other Layer 1 blockchains that offer faster and cheaper transactions. The current Fear & Greed Index at 21 (Extreme Fear) and an Altcoin Season score of 26 (CMC) indicate traders prefer safer bets like Bitcoin and Ethereum over riskier altcoins like ETC.

Conclusion

Ethereum Classic’s 2026 Olympia Upgrade and its position as a Proof-of-Work chain offer some speculative upside. However, it needs strong developer support to overcome its reputation as a “ghost chain.” Keep an eye on the Mordor testnet launch in early 2026—will decentralized governance bring meaningful projects, or will ETC remain a volatile alternative tied closely to Ethereum’s price movements?

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What are people saying about ETC?

The Ethereum Classic community is divided between those who strongly support decentralization and traders focused on price swings. Here’s what’s happening now:

1. A new upgrade led by the DAO brings long-term optimism
2. Some traders warn of a possible drop below $19.62
3. “Code is Law” supporters emphasize the importance of immutability
4. Price forecasts vary widely, from $26 up to $158

Deep Dive

1. @EthClassicDAO: Positive outlook on Olympia Upgrade roadmap

“First-ever on-chain treasury + DAO governance for Ethereum Classic”
– @EthClassicDAO (2.5K followers · 410K impressions · 2025-07-01 22:51 UTC)
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What this means: This is good news for Ethereum Classic (ETC). Introducing a treasury and decentralized governance at the protocol level could help solve long-term development challenges. However, this upgrade isn’t expected to launch on the main network until late 2026.

2. @johnmorganFL: Technical warning of a potential 7% price drop

“Break below $20.25 targets $19.62”
– @johnmorganFL (35.2K followers · 1.2M impressions · 2025-08-01 11:30 UTC)
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What this means: This is a short-term bearish signal. If ETC falls below $20.25, it could drop further to $19.62. This comes amid a 342% increase in trading volume volatility, showing uncertainty among traders.

3. @Crypt0_DeFi: Emphasizing immutability as a core principle

“ETC refused to reverse DAO hack – that’s true decentralization”
– @Crypt0_DeFi (30.9K followers · 2.01M impressions · 2025-09-09 07:00 UTC)
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What this means: This stance appeals to crypto purists who value immutability, meaning the code cannot be changed even after problems like hacks. While this supports the network’s core philosophy, it may limit flexibility in fixing future issues.

4. @xpugHODL: Doubts about Ethereum Classic’s future dominance

“My reaction when someone goes all-in on Ethereum Classic”
– @xpugHODL (17.8K followers · 130K impressions · 2025-10-26 18:30 UTC)
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What this means: This reflects skepticism about ETC’s ability to compete with newer blockchain platforms, despite its historical importance. The sentiment here is bearish.

Conclusion

Opinions on Ethereum Classic (ETC) are mixed. Many appreciate its strong commitment to decentralization, but there are concerns about short-term price drops and challenges in gaining wider adoption. Keep an eye on the $21.50 resistance level: if ETC rises above this and holds, it could signal a positive trend. If it fails, bearish patterns may continue. As the Olympia Upgrade moves forward, watch for developer activity and how the new treasury funds are used to gauge the network’s future strength.

What is the latest news about ETC?

Ethereum Classic (ETC) is at the center of ongoing discussions about its core values while dealing with doubts from the market. Here’s a quick summary of the latest news:

1. Debate Over Integrity Resurfaces (November 2, 2025) – Vitalik Buterin’s comments about Ethereum’s “incorruptibility” sparked fresh criticism of ETC’s legitimacy after the 2016 DAO fork.
2. Called a “Zombie Token” (October 31, 2025) – Reports describe ETC as stagnant in development despite steady trading activity.
3. Security Concerns Highlighted Again (October 15, 2025) – Analysis points out ETC’s history of 51% attacks and ongoing vulnerabilities.

In-Depth Look

1. Debate Over Integrity Resurfaces (November 2, 2025)

What happened:
Ethereum co-founder Vitalik Buterin recently emphasized Ethereum’s “incorruptibility,” which led to criticism from Bitcoin supporters. They argue that Ethereum Classic lost this quality after the 2016 DAO hack, when Ethereum reversed transactions and ETC chose to keep the original blockchain intact. Critics like Samson Mow, CEO of JAN3, say ETC’s choice undermines its claim to integrity, while supporters praise its commitment to immutability—the idea that blockchain data should never be changed.

Why it matters:
This debate highlights the fundamental difference between Ethereum and Ethereum Classic. On the positive side, ETC’s “Code is Law” principle remains a strong selling point for those who value blockchain immutability. On the downside, ongoing criticism might discourage new developers from joining the ETC community. (U.Today)

2. Called a “Zombie Token” (October 31, 2025)

What happened:
Market analysts recently labeled ETC a “zombie token” in reports released around Halloween, pointing out that its development activity is limited and that much of its trading is speculative. Even though ETC has a market value of about $1.5 billion, its ecosystem growth is slower compared to newer blockchain platforms (called Layer 1 chains). Daily trading volume on decentralized exchanges is under $2 million, which is relatively low.

Why it matters:
This label could put downward pressure on ETC’s price if adoption and development don’t pick up. However, ETC’s use of Proof-of-Work (PoW) mining still appeals to a niche group of supporters who prefer this method. Plus, a recent 25% price increase in one week (as of November 7) shows there’s still some speculative interest. (CCN)

3. Security Concerns Highlighted Again (October 15, 2025)

What happened:
An article from The Defiant revisited ETC’s history of 51% attacks—where a single group controls the majority of mining power, allowing them to manipulate transactions. ETC’s mining power (hashrate) has increased to 150 terahashes per second (TH/s), up from 24 TH/s in 2022. While this is an improvement, ETC’s network is still smaller than Bitcoin’s or Ethereum’s, meaning the cost to carry out an attack is relatively low—about $144,000 per day.

Why it matters:
Security is a mixed bag for ETC. A higher hashrate shows miners have confidence in the network, but the Proof-of-Work system still faces criticism for scalability and centralization risks. During times of high volatility, cryptocurrency exchanges might require more confirmations before accepting ETC deposits to reduce risk. (The Defiant)

Conclusion

Ethereum Classic is navigating challenges from ideological debates, concerns about slow ecosystem growth, and ongoing security risks. Despite this, its price shows resilience, indicating continued interest from speculators. The big question is whether upcoming upgrades or new partnerships will change ETC’s reputation as a “zombie token” or if it will continue to stand as a symbol of blockchain purism.

What is expected in the development of ETC?

Ethereum Classic (ETC) is moving forward with some important updates:

1. Olympia Upgrade (End of 2026) – Introduces on-chain governance and changes to how fees are handled.
2. Testnet Launch on Mordor (2025–2026) – Tests these new features before they go live on the main network.
3. Community-Led Funding & Governance – The project’s future is shaped by the community through a formal proposal process.

In-Depth Look

1. Olympia Upgrade (End of 2026)

What’s Happening:
The Olympia Upgrade will bring four key improvements, known as ECIPs (Ethereum Classic DAO):

• ECIP-1111: Introduces a fee-burning system similar to Ethereum’s EIP-1559, but 80% of the base fees will go into a transparent on-chain treasury.
• ECIP-1112: Creates a permanent treasury contract to manage funds openly.
• ECIP-1113: Adds decentralized governance, allowing ETC holders to vote on important decisions.
• ECIP-1114: Sets up a permissionless funding process for projects within the ETC ecosystem.

Why It Matters:
This upgrade is positive for ETC because it addresses funding challenges, reduces inflation by burning fees, and aligns incentives between developers and holders. However, there could be delays if the community takes time to agree or if technical issues arise.

2. Testnet Launch on Mordor (2025–2026)

What’s Happening:
Starting in late 2025, the Mordor testnet will simulate the Olympia Upgrade’s features. Developers will test governance voting, treasury management, and fee distribution.

Why It Matters:
This testing phase is generally good news because it helps catch problems before the upgrade goes live. But if testing takes too long, the main network update might be pushed past 2026.

3. Community-Led Funding & Governance

What’s Happening:
Ethereum Classic’s development is guided by the ECIP process (Ethereum Classic), which lets the community propose and decide on changes. Current focuses include:

• Keeping compatibility with older smart contracts.
• Standardizing block size to an 8 million gas limit.
• Creating tools to audit the total supply of $ETC.

Why It Matters:
This approach reflects ETC’s commitment to “Code is Law,” meaning the rules are set by the code and community, not a central authority. While this ensures stability and fairness, it might slow down how quickly new features are introduced compared to other blockchains with centralized leadership.

Conclusion

Ethereum Classic’s roadmap emphasizes decentralization, transparency, and community control through the Olympia Upgrade and ongoing ECIP proposals. The new DAO-managed treasury and fee reforms could make $ETC more valuable as a proof-of-work smart contract platform.

The big question is whether this community-driven approach can keep up with faster-moving competitors in the blockchain space.

What updates are there in the ETC code base?

Ethereum Classic (ETC) is making progress with important upgrades and new ways for the community to participate in decision-making.

1. Olympia Upgrade Drafted (July 2025) – Brings changes to how transaction fees work and introduces a decentralized governance system.
2. Mystique Upgrade (February 2022) – Updated ETC to match Ethereum’s London upgrade, improving fee handling and network performance.

Deep Dive

1. Olympia Upgrade Drafted (July 2025)

Overview:
The Olympia Upgrade is a set of proposed improvements designed to make Ethereum Classic more community-driven and financially sustainable. It plans to redirect some transaction fees to a shared treasury and let ETC holders vote on important decisions directly on the blockchain.

Details:

• ECIP-1111: Implements EIP-1559, where 80% of base transaction fees are burned (removed from circulation) and 20% go to a decentralized treasury fund.
• ECIP-1113: Creates an on-chain Decentralized Autonomous Organization (DAO), allowing ETC holders to vote on protocol changes and funding.
• The upgrade will first be tested on a test network called Mordor before aiming for full release on the main Ethereum Classic network by late 2026.

What this means:
This upgrade is positive for Ethereum Classic because it provides a steady source of funding for development and gives the community more control over the network’s future. However, since the full rollout is planned for 2026, adoption might take some time.
(Source)

2. Mystique Upgrade (February 2022)

Overview:
The Mystique upgrade brought Ethereum Classic in line with Ethereum’s London hard fork, improving how transaction fees are calculated and making the network more efficient.

Details:

• Introduced a fee system similar to Ethereum’s EIP-1559, but without burning fees like Ethereum does.
• Improved how gas fees (the cost to run transactions) are managed and increased compatibility with Ethereum Virtual Machine (EVM) developer tools.

What this means:
This upgrade helped Ethereum Classic stay technically compatible with Ethereum, making it easier for developers to work across both networks. However, unlike Ethereum, ETC continues to use Proof of Work for securing the network instead of switching to Proof of Stake.
(Source)

Conclusion

Ethereum Classic is carefully balancing innovation with its core values. The Olympia upgrade’s focus on decentralized governance fits well with ETC’s “Code Is Law” philosophy, while Mystique keeps the network compatible with Ethereum’s tools. As ETC continues to rely on Proof of Work, it will be interesting to see if developers looking for a stable and secure blockchain choose to build on it in a rapidly changing crypto landscape.