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2021-05-06

Is Ethereum Classic's Outpacing Of Bitcoin, Ethereum, Dogecoin Gains All About Being 'Cheaper?'<blockquote>以太币经典赛超越比特币、以太币、狗狗币收益是否都是为了“更便宜”？</blockquote>

Gains in Ethereum Classic(ETC) continue to outpace the ones made by the cryptocurrency’s peers Bitco

Is Ethereum Classic's Outpacing Of Bitcoin, Ethereum, Dogecoin Gains All About Being 'Cheaper?'<blockquote>以太币经典赛超越比特币、以太币、狗狗币收益是否都是为了“更便宜”？</blockquote>

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BTC was up 4.46% at $57,201.19 and ETH was higher by 3.71% at $3,484.ETC is trading 10.43% below the all-time high of $100.03 it reached on Wednesday.Ethereum Classiccame into existenceafter a hard fork of the Ethereum blockchain took place in 2016 due to prevailing disagreements at the time in the community.Barry Silbert — CEO of Digital Currency Group, which owns Grayscale — is a well-known proponent of ETC.On Wednesday, Ethereum Classic noted that theGrayscale Ethereum Classic Trust(OTC:ETCG) has over $1 billion in assets under management.ETCG closed 27.76% higher at $67.15 on Wednesday.Why It Matters:ETC has caught the attention of the social media investment crowd. The cryptocurrency’s ticker featured in the Stocktwits list of top 10 trending streams at press time.The rise in ETC is despite the fact that it is not typically classified as an “Ethereum Killer,” which is thecase with several coinssuch asPolkadot(DOT),Solana(SOL), andCardano(ADA).Synergia Capital’s head of research, Denis Vinokourov, said that the rise in ETC “appears to be dominated by ‘cheaper’ Ethereum play and retail flow that has pushed DOGE to sky-high levels,” CoinDeskreported, dubbing the surge in ETC as a sign of froth in the cryptocurrency market.ETC’s retail fueled rise is similar to the story ofDogecoin(DOGE), which has soared 13,604.64% since the year began. However, even DOGE’s weekly gains of 102.68% are weaker than those of ETC. 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