Ethereum Classic is a decentralized computing platform designed to execute smart contracts, which are applications that run as programmed without the possibility of censorship or third-party interference. It is a distributed network consisting of a blockchain ledger, a native cryptocurrency (called ETC), and an ecosystem of on-chain applications and services. Ethereum Classic is the legacy chain that split from Ethereum following a contentious hard fork, known as The DAO fork, in Jul. 2017. Like its sister chain, Ethereum Classic features an execution engine optimized for smart contract processing (known as the Ethereum Virtual Machine or EVM) and a Proof of Work (PoW) consensus system. While it shares some aspects with Ethereum, Ethereum Classic offers a more defined monetary policy and inflation schedule...
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$7.46 to $8.20
1hr Range (USD)
$7.70 to $8.35
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Grayscale reports record $906 million in quarterly inflows
Today Grayscale released its Q2 Digital Asset Investment report detailing activity around its cryptocurrency investment trust products. The firm reported a record $905.8 million in quarterly inflows across all products, nearly double the previous quarterly record of $503.7 million in 1Q20. This translates into about $69.7 million in weekly inflows throughout Q2. The Grayscale Bitcoin Trust and Grayscale Ethereum Trust... read more
Ethereum Classic Project Update - Mainnet 2020
[[ embed url=https://youtu.be/g_KvJpAgF8g ]] ... read more
Q1 2020 in review: Price performance and emerging trends in Smart Contract Platforms and beyond
Smart Contract Platforms and associated sectors were off to a promising start across the board in 2020 before the Coronavirus pandemic derailed most financial markets, including crypto. These assets exhibit a clear downward trend starting in mid-February, near the time when fears over COVID-19 became more prevalent outside of China. The resulting widespread shutdowns to prevent the spread of the virus... read more
The DAO hack gives rise to Ethereum Classic The DAO hack and resulting hard fork split the Ethereum network into two separate chains: Ethereum and Ethereum Classic (ETC). The DAO was an Ethereum-based venture fund that managed to raise ~$150 million in Ether in an April 2016 initial coin offering (ICO). A few months later (July 2016), an attacker exploited a bug in one of The DAO's smart contracts, enabling the hacker to steal 3.6 million ETH of the funds collected in...
Supply & Distribution
The Pre-Mine Ethereum Classic's token distribution follows that of Ethereum, as the two chains have a shared history. Before the eventual split sparked by The DAO incident, ETH and ETC were the same asset (originally known as ETH). The original distribution event occurred through a public token sale managed by the Ethereum Foundation, which sold roughly 60 million ETH (80% of the initial 72 million ETH supply). The sale took place between Jul. 22, 2014, and Sep. 2, 2014. The remaining 12 million ETH (20% of...