Ethereum Classic Skyrockets Over 100%


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Ethereum Classic Skyrockets Over 100% with a Dash of Binance Leverage

The ethereum classic price went stratospheric after ETC futures were listed on Binance this week. It’s now a top 10 crypto by market cap.

  • The ethereum classic price (ETC) rallied 40% over the last 24 hours. ETC has more than doubled this week.
  • ETC is now a top 10 cryptocurrency by market cap. An ETC futures product that launched this week catalyzed the price action.
  • A recent technical upgrade is also a likely factor.

The ethereum classic price is riding high on Friday, as a crucial technical upgrade partnered with a dash of Binance leverage to launch the lesser-known altcoin into the stratosphere.

Ethereum classic went parabolic over the last 72 hours as an ETC futures product launched on Binance.

ETC zoomed as high as $10.11 on Thursday evening. That doubled the altcoin’s price for a 100% gain over $5.07 a week earlier.

The Asian and European sessions decisively breached resistance at the $9.50 level Friday. Another breakout at the $10.00 level sent the price spiraling higher. It blasted through $11.00, stopping just short of $12.00 by early Friday afternoon.

The parabolic price movements inaugurated ETC into the top 10 cryptocurrencies by market capitalization. It leapfrogged several other cryptos along the way.

It’s Altcoin Season For BTC And ETH Forks

Bitcoin and ethereum have posted considerable gains in January. The cryptocurrency industry’s two biggest blue-chip coins continue to rally from mid-December lows. But as far as parabolic crypto price surges go, it’s altcoin season.

And many of the coins experiencing sudden price spikes seem to be the ones that forked from bitcoin or ethereum: bitcoin cash, bitcoin SV, ethereum classic, bitcoin gold, and even bitcoin diamond.

(Sources CCN, Yahoo Finance)

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