Ethereum Classic has become the fifth largest electronic currency worldwide after overtaking Litecoin's market capitalization and then I believe that Ethereum Classic will also surpass NEM, the fourth largest electronic currency with volume Daily transaction is significantly high.
Daily trading volumes of Ethereum Classic are still larger than Ripple and NEM, the third largest and fourth largest under Bitcoin and Ethereum with a market cap of $ 326 million. But in fact, the daily trading volume of Ethereum Classic is 17 times larger than NEM.
In the past few months, Ethereum Classic has received strong growth in daily demand and trading volume primarily due to two major factors leading to the emergence of the Ethereum Classic Trust and the integration of ETC on par with The leading electronic currency.
On April 24, Barry Silbert's Digital Currency Group, arguably the most prominent investment firm in the Bitcoin and Blockchain industries, has launched the Ethereum Classic Trust to provide a platform for public investors. Receive and organize investment in ETC through a regulated channel.
Since then, Ethereum Classic has experienced an overall increase in demand, price, market cap and transaction volume. By April 1, the market capitalization of Ethereum Classic is about $ 200 million. After less than two months, Ethereum's market share rose more than seven times to $ 1.45 billion.
Furthermore, South Korea's largest trading platform Bithumb and several other trading platforms in the Chinese trading market have supported Ethereum Classic, which provides the basis for Asian Cryptocurrency investors. Bithumb's Ethereum Classic integration brings special benefits to the growth of Ethereum Classic as South Korea operates the world's largest Ethereal Exchange market, with a 35% market share and a daily trading volume of 296 million. USD.
Difference between Ethereum Classic and Ethereum
Ethereum Classic took a big step forward in March when it made a hard fork to integrate a deflationary monetary policy in stark contrast to Ethereum. Currently Ethereum operates on an inflationary monetary policy, which annually produces 13 million new Ethers.
Ethereum Classic shifted from Ethereum's current inflationary policy to fixed supply such as Bitcoin.
BitNovosti.com owner and founder of the Ethereum Classic Arvicco movement emphasized the importance of the scarcity of this electronic currency.
"Platform code is an important part of the Blockchain system, which is economically relevant to key stakeholders, users, developers, investors and miners. However, in economic history it has been proven that making long-term credible money is impossible without two main characteristics: the utility and the means to start the ecosystem. Its scarce. "
If demand for Ethereum Classic in major markets such as Korea and the US continues to be maintained, Ethereum Classic's prices will increase over the next few weeks. More importantly, an increase in the demand for Ethereum could also benefit Ethereum Classic for investors seeing value in the fixed supply of ETC and similar features in practice.