The past 12 months marked a dynamic period for the price of ether (ETH), the cryptocurrency of the ethereum network. Ether markets experienced sharp price fluctuations over the course of 2016. The digital currency surged more than 2,000% within the first six months, rising from an opening price of $0.93 to roughly $21.50 by mid-June before losing much of these gains during the latter part of the year. At press time, ETH was trading at $7.27, a figure which itself represents a more than 700% year-to-date (YTD) increase from January. The digital currency experienced these notable gains and losses as ethereum – a blockchain-based platform for the development of decentralized applications and smart contracts – encountered numerous twists and turns on the development…
Markets Weekly is a weekly column analyzing price movements in the global blockchain token markets. This edition looks at the week from 10th through 16th December. Ether classic (ETC) made a strident comeback this week. As the nascent digital currency surged in value, its hashrate also rose and its supporting community announced a new monetary policy proposal. Zooming in on the figures, ETC prices rose as much as 37% during the week, climbing to a high of $1.11 from their opening price of $0.81, CoinMarketCap figures reveal. Market observers saw the week as a positive one for the project, which splintered off in the wake of the collapse of The DAO. “ETC is being embraced by the community as a superior and decentralized alternative to ETH,” said Petar…
Classic ether (ETC) trading volume has now fallen more than 99% from its peak over the summer. The digital currency, which powers the alternative ethereum blockchain, ethereum classic, came into existence in July amid a stream of enthusiasm. However, data suggests these high hopes have now fallen off. CoinMarketCap data reveals 24-hour trading volume repeatedly fall below $600,000 today, a figure that represented less than one-half of 1% of its all-time high of $155m reached on 3rd August. Yet, the tepid trading volume represents a mere glimpse of the low transaction activity ethereum classic has experienced lately, Over the last several weeks, 24-hour volume has repeatedly fallen below $600,000, even dropping to less than $150,000 on 20th November. Faucet image…
Key Highlights Ethereum classic price failed to recover yesterday against the Bitcoin and declined below 0.00100BTC. This is a contracting triangle pattern formed on the hourly chart (data feed via Simplefx) of ETC/BTC, which may provide us the next break. The price is at a major risk of additional downsides, and may even break the last low of 0.00092BTC. Ethereum classic price is all bearish versus the Bitcoin, and it looks like the ETC/BTC pair is setting up for a new low in the short term. Ethereum Classic Price New Low ETC price not even made any attempt to correct higher yesterday versus the Bitcoin, and moved down. There was a close below 0.00100BTC, as it acted as a resistance and pushed the price down. The 100-hourly simple moving average acted as a…
Key Highlights Ethereum classic price finally made a new low and broke the most awaited target of 0.00100BTC. This is a new bearish trend line formed on the hourly chart (data feed via Simplefx) of ETC/BTC, which is currently acting as a resistance. The price is also below the 100 hourly simple moving average, which is acting as a hurdle for the buyers. Ethereum classic price moved below the 0.00100BTC support area, and currently recovering. Can ETC/BTC gain further in the short term? Ethereum Classic Price Resistance ETC price finally moved down and created a new monthly low versus the Bitcoin. I was looking for a move towards 0.00100BTC this past week, and the price finally tested it. It not only tested it, but also broke it for a downside move. There was a new…