The price of the classic Ethereum also experienced a significant uptrend last week, like the Dogecoin, and was able to break its historical peak. Experts point to the uptrend in classical Ethereum, the peninsula season, and the activity of micro-investors as the main reasons for the jump.
to the the report Coin Telegraph, the upward trend of the classic Ethereum quota started in late March (last week) and this digital currency has been able to maintain this trend.
CoinGecko data show that the price of this digital currency has risen by about 20% in the last 24 hours. Ethereum Classic is the top 18 digital currencies on the market with a peak of $ 99. Each Classic Ethereum unit is currently trading in the $ 94 range.
According to experts, the good performance of Ethereum Classic in the first quarter of 2021 and its continuation is one of the reasons for the rise in the price of this digital currency.
Market data show that forks such as Classic Ethereum and Bitcoin Cache have been accompanied by significant uptrends. It is worth noting that the classic Ethereum is a fork that was created after the members of the Ethereum community disagreed in July 2016.
There is a lot of fuss right now about buying this digital currency. Ethereum Classic, on the other hand, is available to investors on the RobinHood trading platform, which has added to its popularity. Google Trends data also shows that a lot of searches are done around the classic Ethereum.
The passage of the Ethereum price over $ 3,000 and the recording of a new historical peak are among the other factors that have increased the price of the classic Ethereum. Of course, it should not be forgotten that market sentiment is such that new investors to the classic Ethereum look at it as a cheaper example of Ethereum.
If we look at the classic Ethereum from the point of view of price increase from the beginning of 2021 until now, we can see that this digital currency has grown 3 times more than Ethereum during this period.
It should not be forgotten that micro-investors are not the only ones who have a positive attitude towards the classical Ethereum. Recent data show that the Ethereum Classic balance of Skill Investment Fund is also increasing, and the $ 711.6 million Classic Ethereum fund is currently managed in this fund.
It can be said that the extraordinary performance of Ethereum Classic has caused the network security problems of this digital currency, which it was struggling with last year, to be forgotten. Ethereum Classic was hit several times by 51% last year. The hackers managed to pocket several million dollars during these attacks.
Due to the relatively stable performance of bitcoins and the rise of currencies such as bitcoin cache, classic Ethereum and dodge coins, the penny season continues. It is also important to note that bitcoin dominance has reached its lowest level since July 2018.