Categories: CryptoNews

Ethereum Classic Is Now Trading On Poloniex

A few days ago, there were some questions as to whether or not Ethereum Classic was a real thing. By the look of things, Ethereum Classic is very real, as it is now trading on the Poloniex exchange. This alternative big-block fork is quite an interesting take on things, and it will affect Bitcoin in the long run as well.

Ethereum Classic Is On An Exchange

The Ethereum hard fork

debacle has spurred some interesting debates, as not everyone is for this concept by any means. We have seen a similar trend in the Bitcoin world, where both Bitcoin Core and Bitcoin Classic exist, both of which have a different idea as to how the block size solution needs to be tackled.

That being said,

Ethereum Classic is rather different than Bitcoin Classic at this stage. It is not unlikely both the regular Ethereum blockchain, and the Ethereum Classic blockchain will coexist in the future. A more likely outcome is how one of the two will eventually die out, although it is hard to judge which one that will be right now.



To put things into perspective, Ethereum Classic is the “old” Ethereum blockchain that was left behind by the majority of miners when the hard fork occurred. Those who continue to support it are not in agreement with refunding The DAO for lost funds. After all, the team behind that concept knew about the problem on beforehand and did nothing [in time[ to thwart an impending attack.

Related Post

Thus, Ethereum Classic was born, which continues on the old blockchain. Some people see the hard fork as censorship, and it is not hard to see where that sentiment is coming from. This project has gained some traction as of late, and Poloniex has decided to list this token as a tradeable asset. BitSquare followed a similar path earlier this week. There is even a dedicated Ethereum Classic mining pool.

Interestingly enough, Ethereum Classic – traded under the ETC ticker on Poloniex – has seen its fair share of trading volume already. While its value is hovering around the 0.00125 Bitcoin mark, there is over 8400 Bitcoin in trading volume in this market already. While it is unlikely ETC will be priced at the same value of ETH anytime soon, investors are showing a great interesting in this project right now.

Image credit 1

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Aptos (APT) and Tron (TRX) Prices Slide, As Volume Soars For Rollblock Suggesting Parabolic Rally

As Aptos and Tron prices take a recent downturn, the spotlight shifts to Rollblock, whose…

3 hours ago

Altcoins to Watch in November: Binance Coin (BNB), Rollblock (RBLK), and Neiro (NEIRO)

As the crypto markets roll into their most bullish time of year, we present three…

3 hours ago

Analysts Forecast $1 for Cardano and Lunex Network As Dogwifhat Plunges To Former Lows

As the crypto market prepares for a major rally, experts believe that two top altcoins,…

3 hours ago

Retail Traders Panic Sell During ‘Fake Dip’; Whales Hold Tight to SOL, DTX, and SHIB for a Millionaire-Maker Bull Run

Solana (SOL): A Strong Ecosystem Despite Volatility Solana (SOL) has been all over the place…

4 hours ago

Llama 3.2 Predicts Price For Dogecoin: $2 Peak By 2025 And $5 Rally For DTX Exchange This Winter

Cryptocurrency trends are keen on the forecast that was recently released by Llama 3.2 model…

4 hours ago

Crypto Whale Sparks 8x Surge In $OPK Price with Massive Buy-in

A mysterious crypto whale, who previously invested 9,600 SOL into tokens $Pnut and $FRED, has…

6 hours ago