The crypto verse appears to be headed to a breakout with major coins recouping the July-August loses and the spotlight is on Ethereum Classic (ETC) stronger than ever after getting a double boost from two high profile exchanges, Coinbase and Robinhood, in a span of two months. These were seen as the solutions to the coin’s liquidity woes.
Despite access to the increased market liquidity and, the coin has not yet shown signs of full potential actualization in the IoT industry. However, the addition to the platform saw the coin resistance zone form around the $19 mark before the price dipping to $15 threshold.
Increased Ethereum Classic (ETC) Competition
With many altcoins shift from value proposition offerings to use case rollouts, Ethereum Classic has been exposed and its market share is being cannibalized from all directions. Smaller coins are riding on where the IoT and tore of value coin has failed to deliver.
IOTA, Zilliqa and VeChain are some of the coins that offers better systems and are poised to steal attention from Ethereum Classic. However, the coin has been in the news with a Verizon collaboration in the offing early next year. This could give Ethereum Classic a unique use case that could moon the native coin to new heights.
Verizon is a telecom outfit whose devices support 5G data networks and this could be a good fit for the blockchain outfit. The deal could be waiting for Motorola to release its fist of a kind 5G supported device, the Moto Z3 before the Verizon deal is inked. 5G data enabled gadgets are set to change the IoT industry with Ethereum classic being fronted as the best landing pad for the Verizon and Motorola outfits.
Ethereum Classic Market Leadership Still Valid
The team working on the Ethereum Classic appears to be working behind the scenes before they roll out their use cases in the market. Since its breakout with Ethereum, the outfit has been undergoing infrastructure developments that will soon see it stand tall in the IoT verse. With a decentralized network to boot and scalability vision to back it up, the platform is ready for 5G integration.
A boost by Coinbase has fronted the coin in to wide adoption by virtue of having been cleared by the SEC as one of the regulations compliance market player. This with the recent BTC.com mining pool inclusion of Ethereum Classic will go a long way in solidifying the coin IoT market leadership with a goal of price growth and value traction.
ETC Market Recap amid Untamed Volatility
With a mixed market performance, the last 24 hours have seen ETC price take an upswing. This has seen its gains edge up by marginally by 5.04% against the green buck to trade at $14.00. Since the Coinbase listing the coin has moved up several places to rank 14 by market cap and this is a good sign for the short term prospectors.
The coin has been enjoying a good ride on the green and this is set to continue as the market continues to recover in unison. With the competitive nature of the IoT market, it is clear that the current bear market resistance the coin is enjoying now could be a sign of things to come.
The recent come “build on ETC” is also another initiative that is aimed at increased traction on the network; the growth of a development community will has a positive impact on the platform’s visibility that would transition into increase Ethereum Classic (ETC) value and price growth.