Ethereum Classic Becomes Fifth Largest Cryptocurrency, Briefly Beats NEM, Litecoin

Ethereum Classic Becomes Fifth Largest Cryptocurrency, Briefly Beats NEM, Litecoin

admin 2017, Altcoin News, Altcoins, Crypto News, Ethereum Classic, In the News, Litecoin, NEM, Prices, Ripple 0 Comments

Ethereum Classic has become the fifth largest cryptocurrency in the world after surpassing the market cap of Litecoin. Briefly, Ethereum Classic also overtook NEM, the fourth largest cryptocurrency with a significantly high daily trading volume. The daily trading volume of Ethereum Classic remains larger than Ripple and NEM, the third and fourth largest cryptocurrencies behind Bitcoin and Ethereum, at $326 mln. In fact, Ethereum Classic’s daily trading volume is 17 times larger than that of NEM. Simply Classic Over the past few months, Ethereum Classic has enjoyed an explosive growth in demand and daily trading volume primarily due to two major driving factors: the debut of the Ethereum Classic Trust and the integration of ETC by leading digital currencies. On April 24, Barry Silbert-led Digital Currency Group, arguably the most prominent investment firm within the Bitcoin and Blockchain industries, launched the Ethereum Classic Trust to provide a platform for accredited and institutional investors to invest in ETC via a regulated channel. Since then, Ethereum Classic has experienced an overall increase in demand, price, market cap and trading volume. By April 1, Ethereum Classic’s market cap was around $200 mln. In less than two months, the market cap of Ethereum surged …