Ethereum Classic (ETC) is, at the time of writing, traded for $5. Nevertheless, the current figure represents a 30% profit since March 13, when most cryptocurrencies bottomed out. Furthermore, ETC has more or less maintained its price since the reward reduction on March 16.

Strong after halving

Although the currency is no longer in the top 20, based on market capitalization, and does not have much influence compared to Bitcoin or even Ripple, the upward trend since 13 March is a positive signal.

On March 13, ETC fell to $3.80, down sharply from the nearly $10 it was worth at the beginning of the year. Despite these harsh conditions, ETC has pulled itself out of the gutter and is now back at a price of ~$5.

ETC’s jump took place just before the second reduction in the block reward, which took place on March 16. ETC has recently reached 10 million blocks and is reducing block rewards by approximately 20% per five million blocks.