Ethereum Classic Market Report: ETC/BTC Up 23.06% on the Day

Brief:


Ethereum Classic turns bullish. Ethereum Classic is up 23.06% on the day and up 267.52% on the week on a last price of 0.00351532. ETC/BTC is trading between a 24hr high of 0.00357300 and a 24hr low of 0.00275400 on a 24hr volume of 37907 BTC or 12356729 ETC. The weekly trend is up.

Last price

0.00351532 ETC/BTC

$USD

last price $ 2.17
one week ago $ 1.44
percentage 50.69%

Volume

Volume

The 24 hour volume on Poloniex is 37907.56107098 BTC or 12356729.58002221 ETC.

Remarks

Renegade fork Ethereum Classic turns bullish
The renegade ETCBTC hard fork ether chain gains traction on the world’s biggest ether exchange. Poloniex posted ETC price up 23.06% on the day. Social media sources report that hashpower continues to trend upward. Volume has always been higher for ETCBTC compared against corresponding ETHBTC volume:

24 Hour Volume of Ether Chains on Poloniex: ETCBTC and ETHBTC
volume-ether-2016-08-01

Data
Ether Classic (ETCBTC) 38975 BTC
Ether (ETHBTC) 17006 BTC
Difference 21969 BTC

With a difference of over 21969 BTC in 24 hours Ethereum Classic sees ETH more than doubled in trading volume. The corresponding price difference was ETH down 6.25% on the day. ETCBTC is up 26.62% in the same period.

USDT
ETCBTC price in USD tether is up. The last price is $ 2.17 which is up from $ 1.44 one week ago. This is a whopping 50.69% weekly increase.

News
One factor possibly influencing increased buy demand today is investors buying ETC as a hedge against the potential failure of the ETH chain. Forbes recently splashed negative news about the ETHBTC chain while GDAX (Coinbase) was one of the few major exchanges to not support the fledging ETCBTC chain.

Overall – especially combined with today’s bullish trend, consistent volume edge, and increasing hashpower – ETC could be poised to become the dominant ether chain.

Price change

Price change is the percentage change within the period:

period change
day 23.06%
week 267.52%

Chart

Tap or click chart to enlarge:

chart-etcbtc-poloniex-2016-08-01

Data source

Poloniex is the data source for this market report.

Market capitalization

Market capitalization is the total $US dollar value of the Ethereum Classic market calculated using the formula:

market cap = ( available supply x last price )
Market cap Available supply Last price
$ 178,585,473 82297453 $ 2.17

Daily High Low

daily high 0.00357300
daily low 0.00275400

Trend

The weekly trend is up.

trend is UP

Support

Support is the lowest price within the period:

period support
day 0.00275400
week 0.00066868

Resistance

Resistance is the highest price within the period:

period resistance
day 0.00357300
week 0.00478200

Margin trading

no

The data source Poloniex does NOT offer margin trading on this digital asset.

Range

Range is the difference in price within the period:

period range
day 0.00081900
week 0.00255882

Market sentiment

Market sentiment is bullish.

sentiment bullish

Image courtesy Pixabay.com

Summary

Ethereum Classic is up 23.06% on the day and up 267.52% on the week. The weekly trend is up. ETC/BTC saw weekly support at 0.00066868 and weekly resistance at 0.00478200. Market sentiment is bullish.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

Printed

This report was printed on Monday August 01 2016 11:12 hours UTC. Contact KittyBitcoin to request custom reports.

Thanks for reading! 🙂

Tags

Ethereum Classic, ETC/BTC, Poloniex, Brief, Last price, Volume, Remarks, Price change, Chart, Data source, Market capitalization, Indicators, Daily high low, Trend, Support, Margin trading, Resistance, Range, Market sentiment, Summary, Disclaimer, Printed, Coming soon, cryptocurrency, bitcoins, BTC, altcoins, investing, trading, speculation, coins, investment, digital, assets, tags

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