Some cryptocurrencies are rising in price right now. Ethereum Classic is one of the coins whose rate is growing rapidly, although it is still significantly below its record level. After last week's decline, the situation has stabilized again. Currently the price is $24.
In some ways, it’s great that cryptocurrencies are rising in price throughout the week. After all, the price decline happened not that long ago, but it seems that almost all the losses were recovered very quickly. At the moment everything is going well, although this does not mean that this will continue indefinitely. As for the price of Ethereum Classic, there has been an unexpected breakout over the past few days.
Things were not looking good when Ethereum Classic dropped from $25 to below $15 a few days ago. At that time, everyone assumed that the situation would not improve and the price of cryptocurrencies would steadily decline for several months. But, as is usually the case with digital currencies, the markets recovered quite quickly.
With the price of Ethereum Classic now returning to $24, it will be interesting to see how long this trend will continue. In particular, there is again significant demand for cryptocurrency, and because of this, the price of Ethereum Classic is increasing. A significant gain of 19.86% in the last 24 hours benefited speculators and long-term holders. Ethereum Classic received a 21.36% increase in price compared to Bitcoin, which is another factor that cannot be ignored.
Trading volume in 24 hours amounted to 349.42 million US dollars, although now the global demand for Ethereum Classic is not so great. This does not mean that no one sells it at all. Since the price of different types of cryptocurrencies is now rising, it is possible that Ethereum Classic may not be able to keep up a little. However, the top ten altcoins in terms of sales volume now cannot even come close to $350 million in 24 hours, which once again confirms that Ethereum Classic is doing well right now.
OKEx is one of the main exchanges for selling altcoins, and it is also the leader in sales of Ethereum Classic at the moment. Approximately 47% of all transactions pass through this platform. The Bithumb exchange takes second place, although at the moment the sales volume through this platform is not impressive. Upbit and Bitfinex are also not far behind, although their individual sales volumes are quite low compared to OKEx and Bithumb.
For now, we can only guess what will happen in the future with the price of Ethereum Classic. And although everything looks quite convincing now, cryptocurrency will remain extremely volatile for a long time.. People should try to make a profit while the price of Ethereum Classic remains high.
It is impossible to accurately predict the next direction of the cryptocurrency market. It is equally possible that the price of Ethereum Classic will reach $30 USD in the next few days.
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According to https://themerkle.com
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