Ethereum price tops $1,600, Ethereum Classic (ETC) soars 22%

Written by C, Fiona

Last updated: 2022-07-19

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Ethereum Classic (ETC) was the biggest winner among the top 100 cryptocurrencies at Tuesday morning trading, gaining 22% over the past day.

Ether (ETH) hit a high of US$1,610 on Tuesday morning, before falling back to $1,521 at press time, according to data from CoinMarketCap.

Fast facts

The world’s second-largest cryptocurrency by market capitalization was up over 26.6% since Saturday in its surge to “The Merge,” the blockchain’s much-anticipated move to proof of stake (PoS), tentatively set for Sept. 19.

Ethereum Classic (ETC) was the day’s biggest winner among the top 100 cryptocurrencies at Tuesday morning trading, gaining 22% over the past day.

Bitcoin was trading at $22,071, up about 3.59% over the past 24 hours, according to CoinMarketCap data, extending a cryptocurrency rally that started on Sunday.

Major cryptocurrencies and traditional markets have been battling concerns of a possible recession, rising inflation, uncertainty caused by the war in Ukraine and a growing list of crypto companies lining up for bankruptcy proceedings.

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