Ethereum Classic Price Defies Bear Market in Single-Day Rally

The ethereum classic price continued its inexorable rise on Thursday afternoon as it reached $17.71 on cryptocurrency exchange Binance — a single-day increase of 7%.

There could be several factors which are affecting this price movement. The principal one is the listing on Coinbase, which was something of a surprise when it beat other contenders such as Ripple’s XRP token to the finishing line.

Turnover has also increased quite substantially in the past days where the price climbed from a low of around $13.50 to $17.74 of now and appears to be still rising.

ethereum classic price

Still, the listing on Coinbase has been announced some time ago, and ETC still continues to skyrocket, gaining over 20% over the past 48 hours. If it continues rising in this manner then we could be back over the psychologically significant $20 mark with a push towards a two-monthly high of $24 not that far away. June has been another bad month for cryptoswith decreases ranging from 10-20% for almost all cryptocurrencies.

Whilst one cannot quite determine what is causing this surge just yet, one can at least look at the historical movements of ethereum classic price in order to try and understand what might happen next for this cryptocurrency. If this positive trend continues, how high can ethereum classic go?

The historic all-time high for ETC currently stands at $45.51. Other peaks include $42.38 as recorded at the end of February and $24.70 as recorded at the start of May.

Before reaching its all-time high of $45.51, ethereum classic moved from $26.99, seeing an increase of 68%…

Read Full: Ethereum Classic Price Defies Bear Market in Single-Day Rally