Ethereum Classic (ETC) temporarily stood ahead of the altcoin pack, based on increased activity ahead of its planned September hard fork. ETC is up more than 32% this week, to above $7.41, rising from its stagnant position above $5.
ETC is an altcoin that has moved counter to other assets, and has offered gains when the rest of the market was depressed. Still, the recent rally is relatively small compared to the long-term drop of ETC prices. ETC has fallen dramatically in BTC terms since its peak at above 0.009 BTC in the summer of 2017. Since the peak of the bull market in December 2017, ETC has slid around 80% in BTC terms.
ETC peaked in dollar terms at above $45, later crashing to lows of $3.73. The current prices are a tentative recovery,...