As the crypto space continues to be competitive it is becoming the opposite for Ethereum Classic (ETC); a triple double digit is in the offing and many ETC holders do not know they are sitting on a gem. The last three months have proved that the coin is very stable and poised to for an upward momentum soon.
Coinbase Boost on Ethereum Classic (ETC) Price
Unlike other coins and tokens that get to the media once they have been listed on exchanges, the Coinbase ETC listing was made public way ahead of the listing date and investors have been stocking up the coin before the actual listing date. Coinbase is a huge market influencer and traders are holding on to their ETC waiting for the price to shoot through the roof.
Most of the investors are buying to sell when the price is favorable; Tom Lee of Fundstrat argues that ETC will be trading a high of $60 by close of 2018. However, he does not factor in the influential role the exchange has in the market which might sent the price higher than the $60 mark. A possible $95 threshold will be possible given the exchanges’ visibility and appeal matrix.
Market Influencers Playing a Major Role in Current ETC Price
The unusual ETC correction appears to be a deliberate move to bring the price lower so that whales in the market can accumulate more for less and sell at a premium price. In the short term the price might plummet below $10 before gathering an upward momentum, a manipulation that is common in the market for promising coins like ETC.
The recent adoption spike on the platform is a clear indication of an increase in demand for the coin and this is set to translate into increased volumes that will spur the price north. However, the entire market has been hit by inconsistent price gains and drops and it is not a unique case for ETC alone.
Ethereum Classic and UTrust Creating ETC Demand
The recent collaboration between Classic and UTrust is a timely move that will see a streamlines ETC payment structure that will spur additional demand for the coin. The project team is certain that the partnership will come up will payment solution that will be a huge hit and a boost to the ETC value.
UTrust goal is to ensure the ETC payments are fast, affordable and secure and will give a better user experience. However, the arrangement will see the ETC user fund protect enhanced. This is also a new gateway into the fiat economy, an exposure that ETC has been missing. The platform acts like an “escrow” service provider that will also handle transaction disputes in the event they occur.
Potential of the DApp Market
With many altcoins competing for the share of the dApp market, ETC still stands tall and it has made huge steps in the market ahead of the competition. Breaking from Ethereum was a calculated move to provide a better outfit that will have superior features, functions and capabilities and that is why it stands a better chance to grow compared to Ethereum.
Opening up for third developers is the next step and this will be the groundbreaking catalyst for the sleeping giant. With the coin price hovering around the $10 threshold, mass adoption is on the horizon. At the time of reporting, ETC price stood at $10.90 after slipping 1.02% against the dollar and 1.20% to BTC.