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Why can Ethereum Classic become a dark horse? The market value and price of Ethereum once again hit a record high. In just three months, ETH (Ether), the cryptocurrency behind Ethereum, skyrocketed from $50 to nearly $400. Let me give you a detailed analysis below. Ethereum Classic (ETC) is the sister chain of Ethereum, and its price has also increased significantly recently, from $2 to $21.32 at the time of writing.

Jason, Crypto Staff Director
Cassidy told us that one of the reasons for Ethereum’s epic surge is that people firmly believe that Ethereum can rebound because it even survived the 2016 hard fork. This is similar to how Bitcoin has developed over the years. In 2011, Bitcoin experienced a major crash, with its price falling to such an extent that it now has nowhere to go. However, this ratio has still persisted, achieving growth beyond everyone's expectations in 2013, and has since recovered after falling sharply again and again.

Amid the popularity of ICO, Ethereum surged like a prairie fire

Most people attribute Ethereum's historical surge to the ICO boom. This is related to the characteristics of the Ethereum channel. There are many projects developed on the Ethereum channel. In 2017, a large number of ICO projects were successfully launched on the Ethereum channel. Cassidy said that this is an important addition to the investment level of this technology.

“The successful launch of ICO projects on the Ethereum platform one after another can only increase the value of Ethereum at the investment level. Remember, Ethereum is not a value store, it is more like an effective platform at the enterprise level. It has and Should continue to do well in the near future.”

Simply put, an ICO is a method of raising capital by exchanging future cryptocurrencies for tradable cryptocurrencies today. Therefore, the appearance of new projects on the Ethereum platform has created more demand for the cryptocurrency behind it, Ethereum. Demand in turn adds to its value. While Ethereum (ETH) seems to be grabbing all the media attention, Ethereum Classic (ETC) seems to be playing the role of dark horse.

Ethereum Classic has also been gradually adopted by multiple projects. This has greatly affected its price trend. As of this writing, the price of ETC is approximately $21.32. Projects under construction on the Ethereum Classic channel include the following:

One is Inpay, which claims to be a versatile user-friendly cryptocurrency with dual blockchain support (Ethereum Classic and Waves). Inpay’s promoters stated that using the fully decentralized infrastructure of smart contracts, Ethereum’s DApps (distributed applications) and Waves’ decentralized transaction technology, Inpay provides a stable and large community where community members can Buy and sell quickly and cheaply inside.

Inpay uses Ethereum Classic technology to enhance features such as decentralized voting systems and pseudonyms. Another blockchain-based project uses ETC as a trading method at the ICO level, it’s called ChronoBank. ChronoBank's goal is to change the status quo in the human resources and recruitment industry, allowing workers to freely trade their labor without the involvement of the traditional financial system. ChronoBank is considered one of the most successful ICO projects in 2017. Although the price distance between ETH and ETC is large, the recent price movements of the two are clearly correlated. Therefore, it is appropriate to consider both trends together.

Cassidy raised his concerns about Ethereum and how Ethereum can expand and become a business channel in the future. He pointed out: “There are many expansion plans prepared for the roadmap, so we will have to see how things evolve. The Bancor ICO project has shown us some areas where the network can be improved. The most important thing is that the more complex the system, The more likely it is that something will go wrong.”

As Bitcoin's big moment approaches, and as the scaling debate comes to an end, participants in the cryptocurrency market are closely examining how its results will affect other altcoins. The top altcoin is expected to show some key reactions, depending on how the Bitcoin debate plays out. In Cassidy’s view, if things get messy, Ethereum and many other top cryptocurrencies could benefit from fear. The cash flow into Ethereum itself is very huge.