Why Ethereum Classic (ETC) Is Extremely Volatile Today
Portfolio Pulse from Henry Khederian
Ethereum Classic (ETC) is experiencing significant volatility, trading 8.1% lower at $17.90. This is amid global market fluctuations, including a 13% drop in Japan's Nikkei 225 and concerns about a global recession, geopolitical tensions, and economic policies. Leveraged position liquidations in major cryptocurrencies have also contributed to the price drop.
August 05, 2024 | 7:47 pm
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Ethereum Classic (ETC) is down 8.1% to $17.90 due to global market volatility, recession fears, and leveraged position liquidations.
The significant drop in Ethereum Classic's price is driven by a combination of global market volatility, concerns about a global recession, and the liquidation of leveraged positions in major cryptocurrencies. These factors have created a cascading effect, leading to automatic sell-offs and further driving down prices.
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