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Ethereum Classic Enters New Era In Development (And Management)

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Ethereum Classic (ETC) is the 21st largest coin by market cap which is trading at $5.14 with a minimal increase lately. However, what is important to note for this coin in the latest altcoin news is the fact that Ethereum Classic enters a new era in its development and management.

Basically, ETC calls themselves to be the money and the team claims that they are unstoppable, urging more investors to choose ETC as one of the hottest altcoins right now. Bob Summerwill, who is a member of the team, recently tweeted:

The AGM for @ETCCooperative happened earlier. Two Resolutions were passed today, which strengthened our Board of Directors and put the new governance policies, processes and procedures in place: Welcome to the Board, @eiaine, @realroyzou and @CraigSalm!”

Besides Bob, several other investors expressed their happiness about having Elaine back in the board of directors, mostly because all of these are familiar faces known for their interest in contributing to the growth of Ethereum Classic (ETC).

As Ethereum Classic enters a new monumental era of development and management, this era is a new step in their ‘5M20’ Monetary Policy which is said to reduce the ETC block rewards. Previously, the block reward was 4 ETC and as the team announced before, there is a block reward reduction of 20% on every 5,000,000 blocks. Currently, the ETC block reward is at 3.2 ETC.

According to Sydney Ifergan who calls himself ‘the Crypto Expert’ on Twitter, the Ethereum Classic news in the future look promising. He said:

“It is important to understand that the Fifthening is not Halving! ETC are still going strong and consumers are interested in a monetary policy that is predictable and transparent.”

Despite the news showing that James Wo who was a board member at ETC quit lately and said that he “must resign from the Board because of gross mismanagement,” Ethereum Classic enters a new era where they need to figure out the best approaches to grow and attract more investors.

It is a common fact that ETC is one of the most interesting altcoins on the market and a coin worth watching out for. Hopefully we will see ETC growing soon and entering the top 20 coins list.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Ethereum Classic News

Ethereum Classic Turns Red, Suffers Biggest Bearish Momentum

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The price of Ethereum classic turns red today as one of the few coins that did so with the new market conditions. Ethereum classic is maintaining a gradual downfall today and starts moving towards the $4.80 price level as it hits the biggest bearish momentum of the week. Let's look at the latest ethereum classic news and find out more. The ETC/BTC pair is also performing negative and even made a loss of 1.94% bringing the levels to 0.00076612. The ETC prices were unable to maintain the static climb and acquired a negative momentum. Over the past week, there was heavy volatility in the ETC prices between the $5.10 and $5.00 level. There was a strong resistance as well as $5.50 which stopped the prices and forced them to go gain more negative divergence. The prices are trading below the $5.00 level and they are about to test the $4.80 price level. The market capitalization of the coin is $570,020,895 with a traded volume of $1,369,348,651 and a circulating supply of 116,313,299 ETC. The technical charts show that Ethereum classic turns red since the price was unable to make a climb. ETC suffered a heavy downfall in every aspect and the bearish nature of the market put the bears into a dominating position so the prices were unable to acquire a stable level to stand against the odds. The technical charts show an increase in the selling volume of the Ethereum classic price. The MACD levels are showing both sales and buy volumes on the same level. The one who comes out 1st will be the deciding factor. The global market’s factors are not in support of the ETC prices. The 24-RSI show a dramatic downfall as well and it is falling down to the bearish zone since it is currently below the level of 50. Ethereum Classic outlines new policies and procedures based on its core principles, as it enters a new era in development. The organization expressed their problem with modern money, property and agreements and how it is all about them running largely on centralized systems such as financial institutions, tech companies and several other types of industries which are controlled by the trusted third parties. In this case, the trusted third parties become the security holes
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Ethereum Classic News

3 Things To Know Before Investing In Ethereum Classic (ETC)

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The Ethereum Classic news lately have shown no upside momentum, even though the ETC token is stable and currently in a positive vibe. At the start of the year, ETC was trading at $4.51 per token, after which its price surged to $10.23 per coin, indicating a 100% surge in price. However, the situation around ETC is not that bright right now which is why we are listing the 3 things to know before investing in this coin.

3 Things To Know Before Buying Ethereum Classic (ETC) Today

As you probably know, ETC is a fork from the Ethereum (ETH) network which uses its initial blockchain - and a decentralized platform running smart contracts without the interference of any other third party. Below, we are listing the 3 things that are important to know about Ethereum Classic (ETC) right now.

Latest Developments On The Project

The first thing to look are the latest developments in the project. As we saw on March 16, the Ethereum Classic network conducted its second block reward reduction as per their monetary policy. This event took place when the network reached the block number 10,000,000. This is how ETC reduced its block reward by 20% and following the update, mining reward for ETC was slashed from 4 ETC to 3.2 ETC, respectively. This is all in line with the project's monetary policy which signals that ETC is doing well.

Partnership With Chainlink (LINK)

Second in the 3 things to note about Ethereum Classic (ETC) this month is the network's partnership with Chainlink (LINK) - one that may see decentralized oracles and external data migrated to the Ethereum Classic blockchain. The latest development will be beneficial to the ETC developers as the oracles can help migrating data into the smart contracts and executing actions on external networks following pre-set instructions.

Antminer E3 Stops Mining ETC

Last in the 3 things you should know about Ethereum Classic in today's crypto news is the fact that the Antminer E3 (which is the first and only mining device on the ETHash algorithm ASIC) has stopped mining ETC. The event led to a rapid drop in the Ethereum Classic's network hash rate. Currently, the price of Ethereum Classic (ETC) is at $4.94 without any change, stable after the recent fall and recovery on the markets.  
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Ethereum Classic News

Ethereum Classic Outlines New Policies And Procedures On Core Principles

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The altcoin news today show that Ethereum Classic outlines new policies and procedures based on its core principles, as it enters a new era in development. The organization that stands behind ETC recently tweeted:
“Today’s money, property, and agreements depend on centralized systems, controlled by traditional institutions, corporations and other trusted third parties, i.e., “security holes.”
The organization expressed their problem with modern money, property and agreements and how it is all about them running largely on centralized systems such as financial institutions, tech companies and several other types of industries which are controlled by the trusted third parties. In this case, the trusted third parties become the security holes. As you probably know from reading our cryptocurrency news, ETC is the native currency of Ethereum Classic, using public key cryptography to hold the secret private keys related to the public accounts. Speaking of, the accounts and balances are safely kept and being monitored in the fully replicated decentralized ledger. Using ETC, it is very possible to program ETC as well as other forms of property which are managed within the system. Now that Ethereum Classic outlines new rules, the future cash flows of ETC can be secured, transferred and negotiated. Also, real-life property such as vehicles, collectibles and real estate can be programmed into the network. According to Sydney Ifergan who is known as "the Crypto Expert" on Twitter and his recent post:
“Smart contracts like those in Ethereum Classic ETC can be used to regulate the organizational processes, thus facilitating smart decision making in all departments and decision making systems. The next step is global distribution.”
As Ethereum Classic outlines the new rules, we can also see that they plan to strengthen the Board of Directors and the policies and procedures which are focused on the core principles and objectives of ECC. A recent update on Twitter from them read:
"The association has recently welcomed “Elaine Ou (@eiaine), Roy Zou (@realroyzou), and @CraigSalm aboard the new #ECC Board of Directors!”
Meanwhile, ETC has been steady after its block reward reduction. Many wondered how the altcoin would perform considering the market uncertainty as of lately. Today, Ethereum Classic (ETC) is trading at $4.80 with a 3% loss on the day following a new market-wide drop.
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Ethereum Classic News

Ethereum Classic Price Finds Support At The Intraday Trendline

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The Ethereum Classic price finds support in the latest crypto news and despite trading lower by 9% today, it is stable above $4 and is now trading at $4.81. The ETC/USD pair broke lower but found support at the intraday trend line. The truth is, the Ethereum Classic price has had a very choppy session yesterday and it continues doing the same today. The price was above $5.53 and then went lower and could not keep hold of the gains above $5.50. This was the point when the sellers came in and dragged the price down to $4.42. Ever since then, the buyers have brought the price back up above the black trend line but once again $5 was the step too far. The MACD histogram shows that the Ethereum Classic price finds support and the MACD histogram is below the zero line along with other signal lines. The price is also under the moving average (55 SMA) which is another bearish sign. What is interesting is that something about the ETC price chart still looks bullish. The market has made a lower high and lower low wave but the base still looks bullish. The key resistance is at $5.50 while the support is now placed at $4.47. According to many vocal analysts in the Ethereum Classic news, the technicals suggest that a bearish trend is in and is now more likely than any bullish trend. For those of you who don't know, ETC was created after a contentious hard fork, following the Decentralized Autonomous Organization (DAO) hack in June 2016 which led to an approximate $50 million being drained from the DAO through recursive call attacks. The Ethereum Classic price finds support to a new consensus algorithm named ProgPoW and ASIC miners may migrate en masse to the ETC chain as they will not be able to profitably mine on the Ethereum chain. Currently, the ETC network has a total of 748 active nodes, most of which are currently running the parity client. The average transaction value per day increased dramatically from January to February but returned to the previous range. Today, we can see a market-wide decline in the news and a market cap that is now at $170 billion.
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