What could affect the price of ETC?
Ethereum Classic (ETC) is currently caught between technical selling pressure and possible changes in its mining community.
- Downward Trend Continues – Key technical indicators suggest the price is still falling
- Mining Shifts Could Affect Security – Changes in miner activity after Ethereum’s upgrade may impact ETC’s network safety
- Regulatory Risks Loom – Increased focus on energy use could challenge proof-of-work (PoW) blockchains like ETC
Deep Dive
1. Downward Trend Continues (Bearish Outlook)
Overview: ETC is trading about 33% below its 200-day moving average ($17.21 vs. $11.56), with momentum indicators like the MACD showing continued weakness. The RSI is near oversold levels but hasn’t reliably predicted price rebounds in the past—ETC actually dropped 11% this week despite similar readings last year.
What this means: Until ETC climbs back above the $12.42 level (the 50% Fibonacci retracement), sellers are likely in control. The $11.32 price point is a key support level—if it breaks, ETC could fall further toward the $10 mark, which is an important psychological barrier for investors.
2. Mining Shifts Could Affect Security (Mixed Impact)
Overview: After Ethereum switched to a proof-of-stake system in 2022, some miners moved their resources to ETC, which still uses proof-of-work. However, Bitcoin’s upcoming halving event in April 2026 might cause miners to shift their computing power to other, more profitable blockchains, potentially weakening ETC’s network security.
What this means: While an influx of miners can boost confidence temporarily, a sustained drop in mining power (more than 15% over 30 days) could raise concerns about network centralization and vulnerability. Given ETC’s history with 51% attacks, monitoring mining activity is crucial. You can track ETC’s hashrate trends at 2Miners.
3. Regulatory Risks Loom (Bearish Outlook)
Overview: The European Union’s MiCA regulations have delayed restrictions on proof-of-work blockchains until 2025, but growing environmental concerns put energy-heavy networks like ETC at risk. ETC’s annual energy consumption is roughly 30 terawatt-hours—comparable to the entire country of Moldova, according to Digiconomist.
What this means: New carbon reporting requirements or mining taxes could hit ETC harder than proof-of-stake blockchains. On the other hand, as one of the few major PoW smart contract platforms, ETC might attract miners displaced from Bitcoin if BTC faces stricter regulations.
Conclusion
Ethereum Classic’s future depends on its ability to recover technically while managing the challenges of proof-of-work mining and regulatory pressures. Key levels to watch are the $12.42 Fibonacci retracement and weekly mining power changes—breaking either could signal the next major move for ETC.
What are people saying about ETC?
Discussion around Ethereum Classic (ETC) is quiet, with traders debating whether it will hold steady or remain stuck. Here’s the latest:
- Miners are holding onto their ETC despite price drops, showing ongoing commitment to the network.
- The community is divided on ETC’s role as “digital silver” compared to Ethereum’s “digital gold.”
- Technical analysts are watching the $12 price point closely—it’s a key level that could determine ETC’s next move.
In-Depth Look
1. Miner Behavior Remains Steady
According to @MinersWeekly, ETC miners haven’t sold off much even though the price has dropped about 27% over the past 90 days. The network’s computing power (hashrate) is stable, which shows miners are holding their coins rather than selling.
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What this means: This is a neutral sign for ETC. Miners holding steady helps prevent big sell-offs, but it hasn’t led to more buying or price increases yet.
2. Debate Over ETC’s Long-Term Role
@CryptoNarratives points out that with Ethereum’s dominance at nearly 12% and its Layer 2 solutions growing fast, the idea of ETC as Ethereum’s permanent backup (“digital silver”) is losing support. ETC’s price is down 57% over the past year, while other smaller cryptocurrencies have stayed flat.
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What this means: This is a bearish sign for ETC. The fading narrative and poor price performance could lead investors to move their money elsewhere.
3. Key Price Resistance at $12
Technical analyst @ChartingETC notes that ETC has hit resistance around $12 twice recently and hasn’t closed above $12.30 on a daily basis, which is needed to push toward $13.50. Trading volume is up, but the price isn’t moving much, which could indicate selling pressure.
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What this means: This is a mixed signal. The $12 level is an important hurdle, but the inability to break higher despite increased trading suggests buyers aren’t confident yet.
Conclusion
The outlook for Ethereum Classic is mixed. Miners remain committed, but the broader market narrative is uncertain. Watch for a daily close above $12.30 to see if ETC can gain momentum and overcome bearish pressure.
What is the latest news about ETC?
I wasn’t able to find useful information to answer this question right now. The CoinMarketCap team is continuously updating my crypto knowledge, so if any important details become available, I should have them soon. In the meantime, please feel free to choose another question or cryptocurrency for analysis.
What is expected in the development of ETC?
Ethereum Classic’s roadmap focuses on decentralized governance and important protocol updates:
- Olympia Upgrade (End of 2026) – Launches a community voting system and changes how transaction fees are handled.
- EGD Ecosystem Growth (Ongoing) – Supports projects through community grants to grow the network.
- PoW Security Enhancements (Ongoing) – Keeps mining-based security strong and reliable.
Deep Dive
1. Olympia Upgrade (End of 2026)
Overview: The Olympia Upgrade will activate a system called EIP-1559, which burns 80% of transaction fees (removing them from circulation) and sends 20% to a community-controlled treasury (ECIP-1111). It also introduces a decentralized autonomous organization (DAO) at the protocol level (ECIP-1113), allowing $ETC holders to vote on how funds are used. Testing will begin mid-2026, with full implementation expected by the end of 2026. This setup aims to create a sustainable funding source without relying on outside sponsors.
What this means: This upgrade is positive for Ethereum Classic because burning fees reduces the total supply over time, potentially increasing value. Giving the community control over funding decisions encourages development driven by users. However, the voting process could slow down decisions if agreement is hard to reach.
2. EGD Ecosystem Growth (Ongoing)
Overview: The ETC Grants DAO (EGD) manages a $10 million fund split evenly between $ETC and USDT (a stablecoin). These funds support projects that improve Ethereum Classic, such as developer tools, decentralized finance (DeFi) applications, and educational programs. The goal is to increase the value of ETC relative to Ethereum (ETH) to 0.1.
What this means: This is somewhat positive for Ethereum Classic because grants encourage innovation and practical uses for the network. However, success depends on keeping developers interested and delivering real-world benefits beyond just ideology.
3. PoW Security Enhancements (Ongoing)
Overview: Ethereum Classic continues to use Proof-of-Work (PoW) for network security, unlike Ethereum which switched to Proof-of-Stake. The team is working on reducing risks of 51% attacks by diversifying mining power and improving how quickly blocks are finalized.
What this means: This is good news for Ethereum Classic because PoW provides strong security and resistance to censorship, attracting miners who left Ethereum after its upgrade. On the downside, PoW’s high energy use may limit interest from large institutions focused on sustainability.
Conclusion
Ethereum Classic’s roadmap highlights its commitment to secure, decentralized mining and community-led governance. The success of the Olympia Upgrade in balancing fee burning with decentralized funding will be key to its future growth. How Ethereum Classic’s strict “Code is Law” philosophy will affect adoption remains to be seen, especially as regulations around cryptocurrencies continue to evolve.
What updates are there in the ETC code base?
Ethereum Classic’s latest updates focus on making governance and funding more decentralized.
- Olympia Upgrade Proposal (July 2025) – Introduces new fee rules, creates a treasury fund, and sets up on-chain community governance.
- EVM EOF Compatibility (Planned 2024) – Prepares for Ethereum’s Cancún upgrade to improve smart contract performance.
Deep Dive
1. Olympia Upgrade Proposal (July 2025)
Overview: The Olympia Upgrade brings in EIP-1559 fee changes, but instead of burning the base fees, it redirects them to a treasury fund. It also establishes a decentralized autonomous organization (DAO) at the protocol level, allowing the community to propose and vote on funding decisions without changing how old transactions work.
This upgrade decentralizes how Ethereum Classic is funded and governed through four Ethereum Classic Improvement Proposals (ECIPs):
- ECIP-1111: Applies EIP-1559 fee mechanics but sends the base fees to a treasury instead of destroying them.
- ECIP-1112/1113: Sets up a permanent treasury contract and DAO governance for transparent management of funds.
- ECIP-1114: Enables anyone to submit funding proposals (called ECFP) to prioritize development projects.
After community feedback, the upgrade will be tested on a test network, with a mainnet launch expected in late 2026.
What this means: This is a positive development for Ethereum Classic because it gives token holders more control over the project’s direction, reduces dependence on centralized funding, and supports long-term growth.
2. EVM EOF Compatibility (Planned 2024)
Overview: Ethereum Classic plans to adopt Ethereum’s upcoming Cancún upgrade, which includes the Ethereum Virtual Machine Object Format (EVM EOF). This will improve smart contract security and efficiency while keeping compatibility with existing contracts.
Core developers are working to integrate six key Ethereum Improvement Proposals (EIPs), including:
- EIP-3860: Limits and tracks initialization code to prevent misuse of resources.
- EIP-3540: Introduces a new format for smart contract code to improve validation.
- EIP-4200: Adds static jumps to optimize contract execution.
Ethereum Classic will roll out these changes cautiously around mid-2024 to ensure thorough testing and security.
What this means: This update is neutral for Ethereum Classic. It keeps ETC compatible with Ethereum but focuses on stability over rushing new features, delaying adoption by a few months to ensure safety.
Conclusion
Ethereum Classic’s upcoming updates emphasize decentralized governance and compatibility with Ethereum’s smart contract improvements. The Olympia upgrade, in particular, could empower the community to shape ETC’s future development while staying true to its core principle of immutability. How the community uses this new governance model will be key to ETC’s next technical milestones.