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Ethereum Classic soars in price by 300% in a week

Ethereum Classic (ETC) altcoin has risen by about 300% over the past seven days. The coin reached $ 145 the day before on some trading platforms – this is the maximum value in the history of cryptocurrency. A correction came today and ETC slipped to $ 120. However, observers believe the retreat is temporary. Ethereum Classic depends on its “big brother” Ether (ETH). The largest altcoin is also correcting today. At the time of publication of this review, ETH fell in price to $ 3500, although the day before the coin on some exchanges exceeded $ 3800. If the ether growth resumes, then the correlated ETC will also begin to recoup. The capitalization of Ethereum Classic now exceeds $ 13.857 billion, the coin holds the 16th line in the ranking of the largest cryptocurrencies according to CoinMarketCap. Despite exploding growth in just one week, many experts urge traders to refrain from investing in ETC. They remind that in the four years of its existence, the Ethereum Classic network has been subjected to so-called 51% attacks many times. This suggests that this blockchain is unsafe for users, and they risk losing their funds if they decide to buy ETC coins.

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