It may be hard for outsiders to believe, but Ethereum Classic (ETC) is actually the original Ethereum blockchain. That blockchain that is fighting with Bitcoin and Bitcoin Cash for a place under the sun (I mean ETH) is in fact it’s fork. Ethereum Classic is still among the most actively traded cryptocurrencies, but is it too late to invest in it now?  

How did Ethereum Classic come to be?

The first and very successful ICO was launched – DAO (Decentralized Autonomous Organization). In a month this project was able to raise about $168 million. Some time later, unknown hackers found a vulnerability and used it to steal almost a third of the issued tokens. At that time, those 3.6 million tokens were worth about fifty million dollars.

Most of the Ethereum community wanted to create a fork to get the stolen funds back to investors, while others insisted that the code should never be tampered with. Eventually a hard fork was conducted, resulting in two versions of Ethereum based on the same blockchain. All ethereum holders automatically became Ethereum Classic holders at the moment of the fork. Something similar happened a year later with Bitcoin when Bitcoin Cash appeared.

However, unlike the Bitcoin Cash story, in the case of Ethereum, most of the market preferred to get rid of ETC tokens in favor of the new ETH blockchain. This significantly lowered the rate of Ethereum Classic, while the rate of the “forked” Ethereum continued to rise.

Why invest in Ethereum Classic?

Although ETC’s current value is significantly lower than ETH’s, its rate growth is still impressive. Ethereum Classic owners gained nearly 1,500% in the first six months of 2017, when the ETC exchange rate rose from $1.48 at the beginning of 2017 to 22.83 in June. Then the growth rate slowed down slightly, and then the rate went down and by the end of 2020, the price of the coin was around $6. Already in 2021 there was an explosive growth to the mark of $135. 

Today, ETC is already trading at $35 per token. Perhaps, these figures don’t reach the indicators of ETH, but in any case they give reason to be optimistic about the future of this cryptocurrency. Moreover, ETC was also able to get institutional support through Ethereum Classic Investment Trust. This support gives ETC additional credibility.

The most compelling reason to invest in Ethereum Classic is its current market value. ETH is currently “hovering” around $4,000 per token, while ETC at below $35 still has tremendous upside potential. It also means a much bigger profit potential in case the attention to ETC grows.

It is by no means too late to start investing in Ethereum Classic. Now is probably the best time when this cryptocurrency is on the verge of big changes.