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Ethereum Classic shows resilience amid mixed crypto market movements By Investing.com


Investing.com  |  Editor Nikhilesh Pawar

Published Nov 25, 2023 09:14AM ET

Cryptocurrency markets have presented a mixed bag of results recently, with Ethereum Classic (ETC) demonstrating its robust presence in the space. Despite a marginal decline early today to $19.28 or its Bitcoin equivalent, ETC’s market capitalization holds strong at $2.78 billion, backed by a substantial trade volume nearing $140 million.

The cryptocurrency, which was established on July 23rd, 2016, remains committed to its original principles of immutability and censorship-resistance for smart contracts and decentralized application (dApp) functionality on its blockchain platform. Operating on a proof-of-work protocol with its native EtcHash algorithm, Ethereum Classic boasts a total supply of 210,700,000 coins and a circulating supply of 144,201,836 coins, reflecting a solid adoption rate within the community.

The broader crypto market has seen varied performance today. Bitcoin recorded a slight decrease at $37,690.84 (-0.2%), while altcoins such as Dogecoin and Litecoin experienced gains, rising to $0.0782 (+0.8%) and $71.09 (+1.1%), respectively. Bitcoin Cash also saw growth to $227.49 (+0.6%). In contrast, UNUS SED LEO took a notable hit, decreasing to $3.97 (-3.3%), alongside minor dips in Bitcoin SV at $47.76 (-0.3%) and Conflux at $0.16 (-0.1%).

Investors interested in Ethereum Classic often start by acquiring mainstream cryptocurrencies like Bitcoin or Ethereum through recognized platforms before trading for ETC. The vibrant ETC community actively engages in discussions on Reddit and tracks the currency’s progress through Github contributions.

As the cryptocurrency landscape continues to evolve, Ethereum Classic’s dedication to preserving the founding tenets of the blockchain technology it builds upon distinguishes it within an increasingly diverse market ecosystem.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.


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