ETC (Ethereum Classic) up 13.00% in the last 24 hours

Gate News Bot message, November 7th, according to CoinMarketCap data, ETC (Ethereum Classic) is currently priced at $16.21, up 13.00% in the past 24 hours, with a high of $16.66 and a low of $13.61. The 24-hour trading volume reached $254 million. The current market capitalization is approximately $2.5 billion, an increase of $288 million from yesterday.

Ethereum Classic is a decentralized smart contract platform that combines Ethereum’s technology with Bitcoin’s philosophy. As a response to the censorship of contracts on Ethereum’s sister chain, ETC adheres to the principle of “code is law,” aiming to provide unstoppable applications. By resisting censorship and the influence of special interest groups, ETC demonstrates its unique position as a future foundational layer smart contract platform.

Recent important news about ETC:

1️⃣ Market sentiment recovery drives ETC price increase The overall cryptocurrency market is showing signs of recovery, benefiting Ethereum Classic, one of the longstanding public chains. ETC’s price surged 13.00% in the past 24 hours, indicating renewed investor confidence in the project.

2️⃣ Trading volume surge reflects increased market activity ETC’s 24-hour trading volume reached $254 million, showing significant growth compared to previous periods. The notable increase in trading volume suggests higher market participation and possibly more investors paying attention to and entering the ETC market.

3️⃣ Market cap growth reflects positive investor outlook on ETC ETC’s market capitalization increased by $288 million in one day, reaching about $2.5 billion. This rapid growth not only reflects the price increase but also indicates a positive long-term outlook among investors for Ethereum Classic.

From a technical perspective, ETC’s price has broken through recent resistance levels and is currently in an upward channel. However, investors should remain cautious of potential pullback risks, especially after such a significant short-term rally.

This message is not investment advice; please be aware of market volatility risks.