The crypto market has realigned greatly in 2018, leaving most of the digital assets recovering from the 2017 hype. It appears that users and enthusiasts are focused more on what cryptocurrencies can do, which can lead to the massive adoption of the coins. In this regard, cryptocurrencies used for everyday payments are likely to have their intrinsic value increased going forward. This is where Ethereum Classic (ETC) comes into play.
A big boost for Classic towards its adoption is the recent collaboration between Coingate and Changelly, which makes it easier for merchants to accept digital assets including Ethereum Classic (ETC).
Announcing the partnership to the ETC community, Coingate said:
“We at Coingate provide our merchants the way to accept and collect major cryptocurrencies as a payment. So, recently we made a partnership with the exchange provider Changelly. Due to changes, Ethereum Classic community can now use ETC token along other tokens as payment in e-commerce stores that uses the Coingate payment gateway. So, if you ever stumble across one of our merchants, keep in mind that your ETC is always welcome there!”
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A boost for the ETC community
This is a big boost for the Classic community as more businesses are expected to accept the cryptocurrency for daily payments. Ethereum Classic is perceived to be a slow but sure winner, which is already on the move. The partnership will add to its intrinsic value because apart from being a reliable asset for daily payments, ETC presents a blockchain on which businesses can build DApps.
Upper hand in the payments market
Embracing the ideals of true decentralization gives Ethereum Classic an edge. The platform operates on an immutable ledger, which propels its growth because many businesses and industries are looking forward to installing DApps in the future. Immutability means no transaction or account can be reversed. This feature is important and critical to the adoption of Classic, especially in industries where smart contracts attract legal and monetary ramifications. A good example is a multi-billion dollar real estate industry, which would require the immutable nature of the Classic network. Immutability is also a major requirement in the electoral systems, especially when it comes to voting. In the future, many people would hope to implement the blockchain technology around that area.
Considering the various use cases available for it, it’s safe to say that ETC is likely to experience a good growth in the future. At the time of this writing, ETC sells for $7.53 on CoinMarketCap, with a circulating supply of more than $106 million USD. While this seems to be a drop in value, even in the short-term, ETC is one of the digital assets that have acquired stability when the market shows a bearish trend.
Final thoughts
Ethereum Classic (ETC) has maintained above critical support at $9, which could be a long-term support for the cryptocurrency. Whether the market acquires a bullish trend later this year or in 2019, ETC remains a stable cryptocurrency that could blossom any time the bulls take over the market. The asset has the potential of hitting up to $50.
Disclaimer: This article is not a direct investment or trading guide. Please conduct a research and consult an expert before you invest in cryptocurrency.
