With the market tanking, and all kinds of negative news coming up, it’s easy to get confused and wonder which coins are worth HODLing. In case you find yourself in this situation, maybe you need to consider Ethereum Classic (ETC). Ethereum Classic may not draw as much attention as Ethereum (ETH), but it is without a doubt a crypto that holds lots of potential in the long run. Several factors support its growth in the long-run.
First, from a macro-level, the Dapps market stands to grow immensely in the long run. As users begin to appreciate the value of decentralization, Dapps will grow in prominence. This will lead to an increased use value of all the major Dapps platform including Ethereum Classic (ETC). As more Dapps launch on this blockchain, its use value will grow.
Just to give you a glimpse into the future of ETC, there has been an increase in the number of Dapps on Ethereum Classic in the last few months. It’s an indicator that once the shift towards decentralization takes place, Ethereum Classic (ETC) will have a sizeable chunk of the market. Therefore, from a macro-level, Ethereum Classic (ETC) will lead to an increase in its price in the long-run.
On top of that, Ethereum Classic (ETC) has one important feature that is lacking in most other cryptos, and that’s immutability. This simply means that accounts on the Ethereum Classic (ETC) blockchain cannot be changed. Immutability will play a huge role in the adoption of Ethereum Classic (ETC) in some of the most critical sectors of the economy. For instance, in the finance industry, immutability is critical if blockchain is to ever gain adoption. With its immutable nature, ETC could also gain in adoption in other areas as well including law, land records registration among others. In essence, immutability in itself is an asset that will in the long-run, push up the value of this crypto.
There is also the fact that Ethereum Classic (ETC) is targeted at one of the fastest growing markets in the world, and that’s the IoT market. It is projected that in the next 5 to 10 years, the IoT market could hit $5 trillion. If Ethereum Classic (ETC) captures just 10% of this market, its long-term value will increase significantly.
On the basis of the above factors, it is clear that Ethereum Classic (ETC) makes for a great long-term hold. It may not be performing well at the moment, but as blockchain technology begins to reshape society, Ethereum Classic (ETC) will definitely have a place in this new economy. It’s one of the few cryptos that are showing prospects of a healthy growth in the long-run.