Ethereum classic (ETC), that was created after a hard fork of the original Ethereum (ETH) blockchain in 2016, is again rallying in the market and has now outperformed ETH on a year-to-date basis. However, history shows that ETC rallies rarely last.
Although prices of both coins are down year-to-date, ETC has managed to outperform its larger sibling ETH. Since the beginning of the year until noon (UTC) on Tuesday, ETC is down by 28%, while ETH has fallen by 59%.
Furthermore, since reaching a local bottom of USD 13.34 a week ago, ETC has now rallied by close to 87% to a price of USD 25.2. By comparison, ETH has risen by almost 54% in the same time period, from USD 1,006 a week ago to USD 1,551 at the time of writing.
The strong ETC rally now comes after another short-lived pump from March and April this year, when ETC surged by over 90% in just over two weeks. That was followed by a dump of around 47% over the next 30 days.
Looking at the chart, it doesn’t take an expert to see that...
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