The modern Ethereum blockchain platform has been operating on this market for only a few years, but during this time it has already managed to undergo a number of changes and separate into a couple of independently functioning areas. The working principle of classical and basic solution is based on one technology, the reason for separation was a hacker attack and subsequent hard-fork. Working with Ethereum Classic, the forecast for 2021 assumes a planned growth of the rate and attracting new potential customers.
The Classic solution received no changes in the software code, and as compensation for the victims of the hack attack, an appropriate amount of previously earned cryptocurrency units was issued. The preservation of liquidity and support of the world’s largest cryptocurrency exchange, Polonix, allows it to keep the competitive position of such a solution. ETC is also available to be traded on exchanges and exchanged for real currency.
- Ethereum Classic: prospects for 2021
- What will happen to Ethereum Classic in 2021
- Will the exchange rate rise?
- How much will it be worth by the end of 2021
Ethereum Classic: prospects for 2021
Ethereum Classic is predominantly compared to its namesake, which is the wrong approach when choosing a cryptocurrency for everyday use. A potential customer should pay attention to the growth dynamics of ETC over the past amount of time. The financial picture is achieved through investments from large third-party companies and the work of individuals and businesses. Since the rate is not held on one position for a long time and can change dramatically – this unleashes the hands of traders, who make a profit by trading cryptocurrency on exchanges and “playing” with the rates.
Every owner of this type of cryptocurrency can immediately exchange it for real currency using specialized exchanges. Beforehand, study the list of available offers, which will allow you to identify the best rate plan. High competition among private exchangers promotes a variety of promotions, which affect the reduction of the final rate. Studying the preliminary forecast of ETC 2021 will allow investing finances profitably or exchanging “Classic Ether” for real money.
What will happen to the Ethereum Classic in 2021
The Classic Ether has a number of advantages over its detached counterpart. These points can serve as a good reason for investors to invest financially:
- Operational stability due to the lack of dramatic changes since the design and release of the project. The conflict with the hacker attack was resolved without interference in the internal code of Etherium. Developers are actively testing for holes and third-party flaws that could contribute to unauthorized ether siphoning;
- an increased level of protection and support of the largest trading exchange of electronic currency, which occupies a leading position in the field of cryptocurrency;
- planned issuance, which will make ether accumulation more attractive and open new opportunities for the rapid growth of the market exchange rate;
- a good level of liquidity, indicating the demand for the payment solution by users around the world.
The above-mentioned factors open new perspectives for further development of the direction and large investments. A parallel analysis of the value change over the past year also shows a stable increase in the exchange rate.
Will the rate go up?
Working with cryptocurrency Ethereum Classic, the forecast for 2021 is favorable. Modern technical and software tools allow the exchange of modern electronic currency between themselves and to real money, and both Etherium are in high demand and can become a direct competitor to bitcoin.
When considering whether the rate will rise, one should pay attention to the following factors:
- The classic version of Ether has received support from both major exchanges and miners around the world;
- Banking organizations, telecommunications organizations, software manufacturers and other large companies are actively showing interest in the cryptocurrency, financing funds in this direction. The more investment is attracted, the higher the final exchange rate;
- Although the program structure of the project has not changed, the planned issuance has a positive effect on liquidity and the possibility of accumulation of cryptocurrency because of its allowable limit and the difficulty of mining;
- made fork contributed to a sharp decline in the rate, followed by a recovery to the previous level with further growth;
- The unstable state makes Ethereum Classic in demand for traders who positively influence the final rate.
It is impossible to know what awaits this cryptocurrency after the new year. The lack of a central governing body and financial security guarantees can contribute to the instant collapse of the established value. A positive growth trend allows us to independently form further growth forecasts and approximately set a possible rate. The financial investment can not only justify itself, but also pay back several times: since the release of this type of cryptocurrency, its rate has grown several hundred times.
How much will be worth by the end of 2021
As we have already found out, the cryptocurrency rate forecast can only be assumed and only indirectly depends on external factors. Preliminary planning of the upper end of the growth forecast should be done taking into account the following factors:
- Individual and corporate activity and the number of day-to-day transactions they make;
- The conclusion of partnership agreements with large organizations and the release of additional software that operates on Ethereum blockchain technology;
- Customers’ reactions to forks and issuances, which can affect the number of Ethereum accumulated;
- Analysis of the chart of the current rate and its changes over the past year. Studying the provided information, it is possible to catch a tendency of occurrence of sharp changes, which will be favorable for traders.
It is difficult to analyze in advance how much it will cost. Financial experts guarantee a smooth growth of the cryptocurrency rate. Considering what will happen with the system, it is worth noting the favorable conditions for its functioning:
- Many third-party e-wallets for storing ETC have been developed, guaranteeing full confidentiality of data and security of transmitted information. Personal data is not stored on the server, which makes it impossible to restore access to a personal account;
- Third-party developers develop appropriate decentralized applications that expand the basic functionality of Ether and simplify its daily operation;
- The ability to exchange it for real money shows the credibility and acceptance of this type of cryptocurrency.