Ethereum’s alternative token attracts miners’ attention with surging price and increasing trade volumes.
Ethereum Classic token (ETC) of the initial version of the Ethereum blockchain not exposed to the hard fork, is rapidly moving forward to strengthen its market position. In less than 24 hours, the token price increased by 256% (according to coinmarketcap.com) thus overtaking the post-fork ETH by almost a third in terms of trading volume at the Poloniex cryptocurrency exchange.
The current ETC exchange rate is approx. 0,0028 BTC against 0.0193 BTC per one ETH ($1.87 и $12.56 respectively).
MinerGate, a pool which supports mining of various cryptocurrencies such as bitcoin and ether, has announced today its support for Ethereum Classic. According to MinerGate’s representatives, the decision was made “out of a deep conviction that Ethereum could thrive without manual actions [the hard fork] in the first place.”
Earlier, MinerGate CEO Claude Lecomte said that he did not support the hard fork, although the pool had not voted against it in the interest of technological development.
The creation of Ethereum Classic was announced last week after the split in the community over the hard fork and the new blockchain. Ethereum Classic is traded under the ETC ticker. It is worth noting, that the description of Ethereum Classic says that the project’s aim is to preserve original Ethereum with immutability and decentralisation as its core characteristics.
