A $300M addition for Ethereum Classic [ETC] is a sign of…

  • Ethereum Classic whales are back, but momentum is off to a slow start

Ethereum Classic [ETC] briefly joined the list of the market’s top gainers in the last 24 hours. Many altcoins have found favor with the bulls this week, with quite a few enjoying a bit of an upside too. This rally was backed by a sizeable hike in its market cap too. Now, while that may not seem very important, here’s why it is quite the contrary.

Read Ethereum Classic [ETC] Price Prediction 2023-2024

Consider this – A look at ETC’s market cap revealed that it recently dropped to a new 4-month low.

However, it is the subsequent action that is of particular interest. ETC’s market cap bounced back by as much as $320 million over the last 4 days.

Source: Santiment

Why is this important for the Ethereum Classic network?

Well, aside from ETC being among the market’s top gainers over the last 24 hours, it underscores strong investor interest. The fact that ETC can command an >$300 million hike in market cap is confirmation of strong incoming demand.  Especially considering the short time frame.

ETC’s market cap surge was backed by a hike in volume during the same period of time….

Read more at news.google.com

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