Ethereum Classic, a new entrant in crypto currency world, which now stands in sixth position on the list of cryptocurrencies with the largest market cap after Bitcoin, Ethereum, Steem, Ripple and Litecoin, is worth $76m selling at $0.926285 per unit and has recorded $14.1m in trading within 24 hours (as at the time of publication). Dashboard has additionally proceeded from the eighth to the seventh position with a little margin with NEM.
As it's too early to judge whether this pace will be kept up is nevertheless not determinate. Also, coinmartketcap.com has yet to provide its 24-hour percentage change and plot its price graph.
However, if the trading continues in this fashion, ETC could become the third largest cryptocurrency in the market sooner than could be imagined to defeat on Litecoin and Steem, Ripple whose 24-hour trading were pegged at and $1,539,, $357,329 $499,437 310 respectively.
Ethereum Classic noted on its website:
“ The most significant question for traders is 'will ETC have market price'? You can find many reasons to believe that it will. Basically, ETC is an Ethereum 'spinoff coin' with a broad user base of all current ETH users. Some of them will see the worth of transacting on a censorship-resistant chain, some will not. This creates interesting arbitrage opportunities for smart dealers. Additional reasoning EHTC is quite improbable to be 'useless'.”
Its creators claim they believe in decentralized, censorship-resistant, permissionless Blockchains and the original vision of Ethereum cloud mining as a world computer which can not shut down but runs smart contracts that are irreversible.
They cite Ethereum Foundation’s answer to the DAO debacle to be a bailout hardfork against ‘principled opposition of a major economical minority of Ethereum stakeholders’ – 19% of ETH holders who oppose the hardfork and about 22% of Ethereum miners who voted against the preceding 'DAO softfork' and would rationally oppose hardfork too like it happened with bitcoin cloud mining before halving
They say this kind of critical minority of stakeholders should not be silenced or intimidated into submission – they should be given an obvious choice.