Ethereum Classic Hits $1.3 Billion Market Cap, Boosted By Consensus, Silbert
Ethereum classic has hit $1.3 bln market cap Wednesday morning. Some connect the success of the coin to the Consensus 2017 conference, where Barry Silbert plays a major role.
Ethereum classic is making a strong statement. The decentralized smart contract platform is on flame hitting more than $1.3 bln market cap on Wednesday morning.
In fact, it streaked as high as more than 55 percent to sell at $16.11. ETC's new growth trend is amazing and enthralling. Cointelegraph spoke to JuicyG of Coinchat.Club, who revealed some magnetic bearings.
"I've been bullish on ETC for the past few months, I think it will outperform most coins out there."
The Crypto adds:
"I think the major move up hasn't happened yet. It will happen once Barry and his friends will start promoting it on Bloomberg and CNBC."
JuicyG maintains ETC could become the second most talked about cryptocurrency aside from Bitcoin and going to see an unprecedented growth supported by massive investment.
"All the big money guys will start buying ETC," he articulates. Indeed every network relies on its membership expansion to grow and JuicyG did not mince words on how crucial that is going to be for fast growing ETC.
Thick technical background
The man who is the brain behind the Dash Force Proposal was also upbeat about Ethereum's younger brother's technical team. Actually, he believes they are one of the best around.
"Ethereum Classic devs are not amateurs or total amateurs like some of these other projects," he asserts. This he believes is also another determinant propelling the Smart Contract Crypto to higher lengths.
The ongoing Consensus 2017 where Barry Silbert is one of the organizers, is being attended by the many movers and shakers in both the cryptocurrency industry and the business arena in New York.
JuicyG thinks considering the fact that Silbert owns a chunk of ETC, he has every interest to push it at the event. "Sure, he has the biggest incentive to promote ETC first and foremost," JuicyG said.
He explained further that, that is the more reason why Silbert created an ETC investment fund, second only after Bitcoin.
ETC Is Undervalued
More engrossingly, JuicyG's opinion is that Ethereum Classic is even undervalued taking into account the massive capital infusion. He refers to the current Market cap as peanut to what ETC is really is.
"At the current market cap, they're probably at less than 10 percent the market cap of Ethereum and given the massive capital influx and publicity, ETC will get I think it's massively undervalued," the Moderator of Coinchat.Club affirmed.
His deepest revelation was actually this:
"We will see a big exodus of projects moving from ETH to ETC. We're already seeing it."
It could be recalled that on Monday Cointelegraph predicted that ETC is preparing to dislodge its elder brother Ethereum from the top.