Ethereum Classic (ETC), the 18th largest cryptocurrency by adjusted volume has been rising in a tumbling crypto market today
Wednesday morning, ETC had surged up by nearly 6% from its closing price on Tuesday by gaining about $0.11. Within one hour, ETC had grown further by another 1% pushing the price further against price gravity to record an outstanding 7.1% price surge.
At the moment, Ethereum classic is trading at $6.11 and maintains a market cap of $691.16 million with a 24 hours trading volume hovering around $897 million.
Hard Fork Catalysing Price Surge
On the 7-day Ethereum Classic price chart, ETC is seen to steadily rice up the chart. Ethereum Classic is likely seeing this price surge owing to its inbound hard fork. The upgrade is expected to include mining difficulty adjustments, the introduction of proof of zero knowledge, and preparation for denial of service attacks.
Traders have, therefore, diverted their attention towards this cryptocurrency with the hope that its forthcoming hardfork will spell good news as was seen previously with Byzantine and Spurious dragon hardforks.
The Atlantis hard fork for Ethereum Classic (ETC) has been officially set to occur at block 8,772,000 on the blockchain Tuesday, September 17, around noon UST.