Cryptocurrency Ethereum Classic Down More Than 3% Within 24 hours
Portfolio Pulse from Benzinga Insights
Ethereum Classic (ETC) experienced a 3.51% price decrease over the last 24 hours, marking a continuation of its 8.0% decline over the past week. The current price stands at $25.41. Despite the drop, trading volume has risen by 6.0% and the circulating supply increased by 0.69% to over 147.05 million, representing approximately 69.79% of its maximum supply. Ethereum Classic's market cap ranking is now #31, with a valuation of $3.74 billion.
May 14, 2024 | 7:00 pm
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Ethereum Classic (ETC) has seen a significant price decrease of 3.51% in the last 24 hours, contributing to an 8% decline over the past week. The increase in trading volume and circulating supply may indicate a mixed market sentiment, potentially leading to increased volatility in the short term.
The price decrease of Ethereum Classic (ETC) is a direct indicator of negative market sentiment towards the asset in the short term. However, the increase in trading volume suggests that there is still interest in ETC, which could lead to potential volatility as investors react to these mixed signals. The increase in circulating supply could also impact the price dynamics by potentially diluting the value per coin, depending on market demand.
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