Ethereum Classic Is Looking to the Upside
Ethereum Classic (ETC) is up 4.2% to $17.80 this week, outperforming the broader crypto market where Bitcoin (BTC) has gained 2.9% to $109,388. The recent Olympia update, which increased inflation on the ETC network, has been viewed as a positive catalyst and sparked a 30% rally to $20.96 in early May. The subsequent pullback appears to be driven more by broad market sentiment than by any ETC-specific weakness. With Bitcoin nearing its all-time high of $111,995 and signaling a potential breakout, conditions are favorable for ETC to revisit the $20.00 level and potentially push higher toward $25.00.
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