ETC (Ethereum Classic) rose 3.39% in 24 hours

Gate News Bot News, June 30, according to CoinMarketCap data, as of the time of writing, ETC (Ethereum Classic) is currently priced at $16.77, with a rise of 3.39% in the last 24 hours, reaching a high of $17.14 and a low of $15.91. The current market capitalization is approximately $2.557 billion, an increase of $83.9 million compared to yesterday.

Ethereum Classic is a decentralized smart contract platform that aims to become the foundational smart contract platform of the future by combining Ethereum's technology with Bitcoin's philosophy. ETC adheres to the principle of "code is law," demonstrating resilience in the face of contract scrutiny and providing a truly unstoppable application development environment. As a continuation of the original vision of Ethereum, ETC uniquely positions itself as a decentralized and secure cryptocurrency choice when other chains may be influenced or compromised by special interests.

Important news about ETC recently:

1️⃣ Bitwise Acquires ETC Group to Enter European Market The cryptocurrency asset management company Bitwise announced on August 19, 2024, the acquisition of the London-based ETP provider ETC Group. This acquisition marks Bitwise's official entry into the European market, expected to attract more institutional investors' attention to ETC and enhance its market influence.

2️⃣ ETC Group launches a PoW Ethereum hard fork-based crypto ETP ETC Group has launched a cryptocurrency ETP product based on a proof-of-work (PoW) Ethereum hard fork. This move not only expands the investment channels for ETC but also highlights the market's ongoing interest in the PoW consensus mechanism, which may have a positive impact on the price of ETC.

3️⃣ Increased mining support drives ETC price rise With the increased support for ETC mining, Ethereum Classic has recently seen a 12% rise. The support from miners for the ETC network has not only enhanced network security but also reflects the market's confidence in the long-term development of ETC, which may be one of the important factors driving the recent price pump.

From a technical perspective, the ETC price has broken through recent resistance levels, showing upward momentum. However, investors still need to closely monitor the overall trends in the cryptocurrency market, as well as the further development and application of the ETC network.

This message is not intended as investment advice; investors should be aware of market volatility risks.