Ethereum Classic has again popped up in the news for all the wrong reasons. OKEx, a cryptocurrency exchange, has recently revealed that it has suffered a $5.6 million loss due to recent 51% attacks.
As per the exchange’s policy, it absorbed the total loss and didn’t let its users be impacted. It has also stopped deposits and withdrawals of ETC for preventing further loss.
Ethereum Classic Price Analysis
ETC/USD has been through a bullish ride over the last 24 hours. It was at $7.26 at the opening hour, and over the next few hours, the coin faced a sharp pullback and fell to $7.09. It was followed by a marginal hike that took the price of Ethereum Classic to $7.50 by 09:00 UTC.
ETC price could maintain its level near $7.3 most of the time until the closing of the day. With the starting off today, Ethereum Classic has been up trending. Just before 03:00 UTC, the price has been raised to $7.75.
Ethereum Classic currently trades at $7.61, and its MACD hints at a possibility of marginal correction for the short-term. However, as per ETC Predictions and its overall momentum, ETC/USD might regain upward momentum and soon cross $7.8 mark.