Top Reasons Why Ethereum Classic (ETC) Price is Surging Today?
2025-07-19 12:33:58
Main Idea
Ethereum Classic (ETC) price is surging due to a combination of technical breakout, the Olympia Upgrade introducing a deflationary model, and broader crypto market recovery.
Key Points
1. ETC price has surged over 33% in the last week, breaking out of a long-term trading range and aiming for $40.
2. Open Interest (OI) for ETC has risen from $116 million in April 2025 to $311 million in July 2025, indicating renewed bullish sentiment.
3. The Olympia Upgrade implemented EIP-1559, introducing a fee-burning mechanism that creates a deflationary model for ETC.
4. Technical indicators like the daily MACD line and RSI above 70 support the bullish trend for ETC.
5. The broader crypto market recovery, including increased capital inflow to altcoins and strong performance of spot Ethereum ETFs, has contributed to ETC's rise.
Description
The ETC price has broken out of a crucial resistance and now aims for $40. The surging ETC futures OI amid positive funding rates suggests bullish sentiment. The Ethereum Classic network has struggled over the years to compete with other smart contract-based L1 chains. Ethereum Classic (ETC) has jumped over 33% in the last week, breaking out of a long-term trading range. This powerful rally is being fueled by more than just general market hype; it’s backed by a fundamental shift to a deflationar...
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