We are seeing a fair few different cryptocurrencies appreciate in value as of right now. Ethereum Classic is one of the coins seeing a massive uptrend as we speak, although the Ethereum price is still well below its all-time high. As of right now, the Ethereum Classic price has reached $24 again for the first time in a few days. After last week’s dip, things have finally returned back to normal.
ETHEREUM CLASSIC PRICE IS SHOOTING FOR THE MOON
In a way, it is good to see so many cryptocurrencies go up in value all week long. After all, we have seen a major dip not that long ago, yet it seems virtually all of these losses have been recovered in quick succession. While this doesn’t necessarily mean this trend will continue indefinitely, things are certainly looking up, for the time being. In the case of the Ethereum Classic price, things have certainly taken an interesting turn over the past few days.
After dipping from $25 all the way to just below $15 a few days ago, things were not looking all that great for the Ethereum Classic price whatsoever. At that time, a lot of people had assumed things would not improve any further and cryptocurrency would enter a permanent bearish mode for several months. As is usually the case with cryptocurrency, things can turn around at any given moment, and the cryptocurrency markets rebounded rather quickly in the process.
With the Ethereum Classic price now returning to $24, it will be interesting to see how long this uptrend will last. More specifically, there is a significant demand for cryptocurrency once again, and the Ethereum Classic price is flourishing because of it. With this solid 19.86% gain over the past 24 hours, things have certainly been quite profitable for speculators and long-term holders. Ethereum Classic also gained 21.36% in value against Bitcoin itself, which is another factor that should not be overlooked whatsoever.
With $349.42m in 24-hour trading volume, the global demand for Ethereum Classic is not all that big as of right now. That doesn’t mean there are no people trading it whatsoever. With so many cryptocurrencies appreciating in value these days, it is possible Ethereum Classic may be left behind a bit. However, a few top 10 altcoins can’t even come close to $350m in 24-hour trading volume right now, which further confirms Ethereum Classic isn’t in a bad place as of right now.
OKEx is the go-to altcoin exchange these days, and they are also leading the Ethereum Classic trading volume as of right now. With over 47% of all trades passing through this platform as of right now, interesting things are bound to happen. Bithumb is in second place, although is much less spectacular fashion as of right now. We also see Upbit and Bitfinex make some interesting moves, although their individual volumes are pretty low compared to OKEx and Bithumb. There are three fiat currency markets in the top 5 for ETC, which can only be considered to be a good thing.
For the time being, it remains to be seen what the future holds for the Ethereum Classic price. While things are looking pretty solid right now, cryptocurrencies will remain incredibly volatile for quite some time to come. People should take some profits while the Ethereum Classic price remains high before the market turns around once again. It is impossible to accurately predict cryptocurrency market movements, to say the very least. It is equally possible the Ethereum Classic price hits $30 in the next few days, for all we know.