Is Ethereum Classic Price Going Up for Good
Is Ethereum Classic Price Going Up for GoodAnother major price move may be coming up for Ethereum Classic after a U. S. based investment firm, Grayscale Investments, releases plans for a private fund. Ethereum Classic recently saw a rise in price after the Monetary Policy was released, limiting the total supply of ETC to 210-230 Million. The recent announcement from Barry Silbert, Grayscale Investments Founder, is surprising because the only other cryptocoin that has a private fund is Bitcoin. Ethereum Classic Price HistoryEthereum Classic is a top 10 cryptocoin, currently 7th in position. The market cap is currently near $120 Million USD, which is up from its initial $72 million market cap in July 2016. Trading at $1. 33, the circulating (available) supply of Ethereum Classic is nearly 89. 6 million, which is now over 42% (38% 230 Million) of the total supply. ETC MarketcapAccording to Barry Silbert, the new Ethereum classic fund is set to be an open ended trust with no limit on the amount of capital it can raise. The initial funding will come from Digital Currency Group (DCG), the parent company of Grayscale Investments, and from accredited US investors. In Grayscale’s 23 page Paper released today 3/9/17, they explain the benefits of investing into Ethereum Classic. They also explain why they see Ethereum Classic as an opportunity and Ethereum as a risk. Stating that the combination of switching Ethereum to Proof of Stake (POS), No hard cap on coins mined, and the fear of centralization with the concentration of Ethereum (72 Million of 89. 4 Million) owned by select few. Grayscale is also evaluating the potential use of ETC in the Internet of Thing (IoT) as a digital commodity that powers IoT devices and applications with a working capital framework. With an estimated 75. 4 Billion IoT devices to be connected by 2025, ETC may be the new fuelв facilitating transactions for IoT devices. To sum up the paper Grayscale theorizes ETC in Portfolio Construction. Detailing different analyses they reveal the significance of returns on even small allocations in investments. Even though their simulated analysis was limited by the less than 1 year of data on ETC, their results were consistent with the mathematic principle that uncorrelated assets with positive returns can improve efficiency of the investor’s portfolios. In other recent Ethereum Classic news, Geth 3. 3. 0 was released today. Three key changes were made including the removal of almost 9 thousand lines of dead code. JIT VM was removed in this release. Improved peer discovery, and new boot nodes were added. The release came from 3 contributors @outragedhuman, @splix, and @pascaldekloe (whom was stuck with most of the work). Be sure to download and install the latest copy preferably through github, if you download from other sources be sure to check if it is valid using sha 256 below:SHA 256 geth-classic-v3. 3. 0cc58d32320b4ba4cc420dd6dc7440a66ab7aa6cb58cf714f983a3ff954121057 linuxabc07a8cc89bbb561251c7421d893b2eed1f1865a14e933144c6a935505299c5 osxc7cdbbcbb9edf51507ac35020e3abea5c99154a77569aee0e204c4ad8d6e97ce win64Charles Hoskinson of IOHK held a brief interview at Shanghai Jiao Tong University on Cryptocurrency and Blockchain Technologies. The Weekly IOHK meeting also took place this week on Tuesday 3-7-2017. Watch it below:
