4 reasons why Ethereum Classic is skyrocketing – up to 40% this week

The price of Ethereum Classic (ETC) has risen 40% this week due to various bullish news, according to data from Coin360.

In the past seven days, the ETC price has risen from around $ 5.50 to about $ 7.30, as of press time. It is now ranked number sixteen by market capitalization between Chainlink (LINK) and DASH.

Ethereum Classic 7-day price chart. Fountain: Coin360

Here’s some news that has likely made traders bullish, at least for now.

Next month’s Atlantis fork

Ethereum Classic’s so-called Atlantis Fork, or Atlantis fork, is scheduled for next month. It is expected to happen on September 13, after members and developers reached an agreement that the hard fork would be executed on block 8,772,000.

As Cointelegraph reported, the Atlantis hard fork is intended to improve security while taking community concerns into account.

It is also seen as an unhurried upgrade that will ensure ETC’s compatibility with Ethereum, making it easier for sister blockchains to collaborate. The team also intends to improve the functionality and stability of ETC, which is especially relevant as the network had experienced a 51% attack last January.

North Block Capital is an ETC Labs Studio program

Yesterday, London-based token investment group North Block Capital also joined the Studio Program of blockchain developer organization Ethereum Classic Labs (ETC Labs).

ETC Labs shared the news on the blog official on August 22. The companies would jointly create several comprehensive token sale initiatives for North Block Capital clients and partners.

ETC Labs announced the new Studio Program on August 8. The organization apparently aims to support new projects and sales based on the ETC blockchain through this initiative. ETC Labs also stated that it would offer technical and marketing expertise.

“North Block Capital has an impressive track record of driving innovative projects and leading the advancement of blockchain companies. […] We are excited to partner with them and support their projects with our Core development team and to be at the forefront of fostering blockchain technology and businesses. It’s ideal for ETC Labs, while the Studio Program allows us to quickly address the technical needs of your projects. “

Expansion to Asia

Additionally, ETC Labs would help North Block Capital carry out token sales and marketing initiatives in the Asian market. As previously reported by Cointelegraph, Blockstack PBC CEO and co-founder Muneeb Al recently commented on the appeal of entering the Asian market, saying that “Asian countries had arguably the most significant penetration for both crypto users and crypto users. developers “.

ETC Summit in October

El evento anual Ethereum Classic, ETC Summit, is scheduled for October 3-4 in Vancouver, Canada. It is not unusual for cryptocurrencies to surge in price in the lead up to an industry event or conference. The ETC price, in particular, is no stranger to this and in previous years it has shown a price increase ahead of this event.

The conference will cover a variety of topics spanning development, IoT, cross-chain interoperability, market dynamics, smart contracts, blockchain-related social issues, and more.

Keep reading:

We want to say thanks to the writer of this short article for this incredible content

4 reasons why Ethereum Classic is skyrocketing – up to 40% this week

Dispensary Business News