If Bitcoin can break above the overhead resistance, a few altcoins are likely to pick up momentum and provide short-term trading opportunities.
Ethereum Classic News
Ethereum Classic is an open-sourced Blockchain-based platform that enables smart-contracts and has a Turing-complete programming language. Ethereum Classic came to existence after Ethereum hard fork that took place in 2016 after The DAO collapse.
The Ethereum Classic is the original Ethereum Blockchain supported by the people who believed in the core principles of Ethereum like the immutability of Blockchain and “code is law.” They denied the necessity of a hard fork to fix the damage after someone exploited The DAO vulnerabilities.
As the original Ethereum, ETC provides smart-contracts and a development platform. It also provides the Emerald Software Developer Kit: a toolkit, unique to ETC, made for building DAPPS (decentralized applications). The ETC team aims to use its product in the Internet of Things to provide machine-to-machine communication.
Ethereum Classic performed its scheduled upgrade to bring Ethereum’s Istanbul features to the classic chain, making the two protocols fully compatible with each other.9431
If Bitcoin remains in an uptrend, these altcoins are likely to outperform the other major cryptocurrencies this week.17505
The crypto markets are expected to remain volatile this week. Hence, several short-term trading opportunities are likely to crop up.21558
Bitmain’s Antminer E3, an ASIC miner that should have allegedly become obsolete by April 2020, will continue mining Ether at least till October 2020.7494
Developer bounty platform Gitcoin has partnered with Ethereum Classic Labs to offer bounties in ETC.2326
Most top performers of the past week have bounced sharply from their lows, which is a positive sign as it indicates buying at lower levels.6115
Once the “world's most powerful” hardware for mining Ether, Antminer E3 will allegedly stop mining the coin in about 45 days, 2Miners says.21925
Ethereum Classic Labs and Fantom Foundation are joining forces to promote decentralized finance, using Fantom’s ecosystem for the base and ETC as collateral.5206
The top crypto performers of this week have resumed their up move and are now likely to rally to their next overhead resistance levels.8415
The bears are attempting to stall the current rally but bulls are likely to defend the closest support levels, suggesting each dip represents a buying opportunity.11710
Bitcoin and a few other altcoins have broken above their 200-day SMA, which indicates the possibility of the start of a new uptrend.11984
Most major cryptocurrencies have risen sharply from their recent lows which shows that bulls are building positions on every dip.9551
The next few days will decide whether cryptocurrencies will fall in tandem with equity and crude oil due to coronavirus or will they buck the trend.8681
After the recent run-up, most top crypto performers of the past week are showing signs of entering a minor correction or consolidation.7555