Ethereum Classic

$50 seems ambitious for Ethereum Classic in 2024; ETC will likely trade in the $25-30 range or higher

2024 Forecast for Ethereum Classic: Will ETC Reach $50? Expert Insights on Investing in Rebel Satoshi


                        
                    
                                    Nearly $700 million of the $873 million trust assets allowed to be sold by FTX comes from Grayscale’s flagship product, the Grayscale Bitcoin Trust.
                    Bankrupt crypto exchange FTX has been given the green light to sell around $873 million of trust assets, with proceeds used to repay creditors impacted by the exchange’s collapse in 2022, according to a Nov. The $873 million in assets will be sourced from FTX’s stakes in various trusts issued by crypto asset manager Grayscale Investments, valued at $807 million, and custody service provider Bitwise, valued at $66 million. While the court document references a total of $744 million in assets, this is due to the valuation figure being as of Oct. Order authorizing FTX Trading to sell trust assets. Source: KrollThe approval comes nearly four weeks after FTX debtors filed a motion to Judge John Dorsey on Nov. FTX currently owns over 22 million units of GBTC, Grayscale’s flagship Bitcoin product, now worth $691 million, while its 6.3 million shares of ETHE are now worth around $106 million.Grayscale’s Ethereum Classic Trust, Litecoin Trust and Digital Large Cap Trust are the three other trusts that FTX can now sell to recoup funds for impacted FTX customers.FTX's shares in Grayscale and Bitwise were worth $744 million as of Oct. Source: KrollFTX’s administrators, headed by John. So far, around $7 billion in assets has been recovered, with nearly half coming from cryptocurrencies ($3.4 billion). In June, FTX’s debtors estimated the total amount of customer assets misappropriated was $8.7 billion.Read more

Crypto exchange FTX gets nod to sell $873M of assets to repay creditors


                    
                    Nearly $700 million of the $873 million trust assets allowed to be sold by FTX comes from Grayscale’s flagship product, the Grayscale Bitcoin Trust, or GBTC. 
                    Bankrupt crypto exchange FTX has been given the green light to sell around $873 million of trust assets, with proceeds used to repay creditors impacted by the exchange’s collapse in 2022, according to a Nov. 29 filing in a Delaware bankruptcy court.The $873 million in assets will be sourced from FTX’s stakes in various trusts issued by crypto asset manager Grayscale Investments, valued at $807 million, and custody service provider Bitwise — valued at $66 million. While the court document references a total of $744 million in assets — this is due to the valuation figure being as of Oct. 25, 2023. The assets have increased in value since. Order authorizing FTX Trading to sell trust assets. Source: KrollThe approval comes nearly four weeks after FTX debtors filed a motion to Judge John Dorsey on Nov. 3 requesting the sale of the six cryptocurrency trusts — including the Grayscale Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), and Bitwise 10 Crypto Index Fund (BITW).FTX currently owns over 22 million units of GBTC, Grayscale’s flagship Bitcoin product, now worth $691 million, while its 6.3 million shares of ETHE are now worth around $106 million.Grayscale’s Ethereum Classic Trust (ETCG), Litecoin Trust (LTCN) and Digital Large Cap Trust (GDLC) are the three other trusts that FTX can now sell to recoup funds for impacted FTX customers.FTX's shares in Grayscale and Bitwise were worth $744 million as of Oct. 25, but the valued has increased since. Source: KrollFTX’s administrators, headed by John. J Ray III, has been working to recover assets since Sam Bankman-Fried’s former empire collapsed in November 2022.So far, around $7 billion in assets has been recovered, with nearly half of that coming in the form of cryptocurrencies ($3.4 billion). In June, FTX’s debtors estimated the total amount of customer assets misappropriated was $8.7 billion.Related: FTX Foundation staffer fights for $275K bonus promised by SBFMeanwhile, Bankman-Fried was convicted on seven fraud-related charges on Nov. 2 and is set to be sentenced on March 28. He remains in Brooklyn’s Metropolitan Detention Center for the time being, where he recently paid four mackerels in exchange for a haircut.Magazine: Deposit risk: What do crypto exchanges really do with your money?

The post Ethereum Classic Price Prediction 2023, 2024, 2025: Will ETC Price Cross $25 In 2023? appeared first on Coinpedia Fintech News
The altcoins are facing the heat, with the Bitcoin rally losing momentum as the optimism sizzles down around the Spot ETF approval. With the ETC price falling below the $20 mark, the Ethereum Classic Price Prediction faces intense bearish influence. Furthermore, if the positive sentiments in the market continue to decline, then the ETC price …

Ethereum Classic Price Prediction 2023, 2024, 2025: Will ETC Price Cross $25 In 2023?

TLDR Uncertainty over the viability of the recently launched Celestia Rebel Satoshi is set to provide over and above typical meme coins Ethereum Classic may prove to be a decent altcoin despite frequent Ethereum comparisons After a mixed three-quarters of 2023, the revived crypto market looks to close the year on a high. Many analysts […]

Looking Beyond the Big Crypto Surge? Explore These Promising Investment Options

Explore how Ethereum Classic (ETC) is navigating the crypto market's latest challenges, including Binance's legal woes, in our comprehensive analysis. Discover ETC's technical indicators, recent market performance, and future prospects. A must-read for anyone interested in the evolving landscape of cryptocurrency investments.

Why Are Investors Eyeing Ethereum Classic (ETC) Amidst a Market Shake-Up?

The post Supporters of Ethereum Classic and Stellar Shifting to a Budding Cryptocurrency with 150% Growth Prospects appeared first on Coinpedia Fintech News
TLDR Ethereum Classic loses 6%, but experts predict it will resurge soon. Stellar sheds 3% of its value, but an SCF-fueled bull run is coming. Rebel Satoshi’s projected 150% presale surge attracts investors in droves. The crypto market has started retracing its gains after starting November with bulls on the front foot. As a result, …

Supporters of Ethereum Classic and Stellar Shifting to a Budding Cryptocurrency with 150% Growth Prospects

The post Wealth Building in Cryptocurrency: Expert Recommendations on Solana, VC Spectra, and Ethereum Classic appeared first on Coinpedia Fintech News
Navigating the path to wealth building requires strategic insights and expert recommendations. In this article, we explore the potential wealth-building opportunities presented by three notable cryptocurrencies: Solana (SOL), VC Spectra (SPCT), and Ethereum Classic (ETC). Summary: Solana’s (SOL) recent whale activity fuels uncertainty about the cryptocurrency’s trajectory. VC Spectra (SPCT) stands as the ultimate safe …

Wealth Building in Cryptocurrency: Expert Recommendations on Solana, VC Spectra, and Ethereum Classic

In recent market developments, Ethereum Classic (ETC) has showcased pronounced volatility, capturing the attention of cryptocurrency investors and analysts alike. Over the previous week, Ethereum Classic (ETC) experienced a notable upswing in its value, registering a 4.0% increase as its price escalated from $19.07 to a peak of $20.04. Despite this upward trend, the cryptocurrency [...]
The post Ethereum Classic (ETC) Has Broken Above a Key Resistance Zone, What’s Next? appeared first on Blockonomi.

Ethereum Classic (ETC) Has Broken Above a Key Resistance Zone, What’s Next?


                    
                    ENS developer Nick Johnson claims a patent granted to Unstoppable Domains in January is entirely based on ENS Labs innovations. 
                    Founder and lead developer of Ethereum Name Service (ENS) Nick Johnson is urging blockchain domains company Unstoppable Domains to drop a recently awarded patent or face a lawsuit, according to an open letter shared on X (formerly Twitter). In January, Unstoppable Domains was granted its first patent, US11558344, which claims that Braden River Pezeshki, Matthew Everett Gould and Bogdan Gusiev are the inventors of a technology that uses blockchain technology to determine domains. The patent request was filed with the United States Patent and Trademark Office in 2021. According to Johnson, the patent is "based entirely on innovations that ENS developed and contains no novel innovations of its own." The ENS documentation stipulates that: "The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS's job is to map human-readable names like 'alice. eth' to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata."In the open letter published on Nov. 17, Johnson claims that all the ENS work is under open-source licenses, with all standards publicly available for implementation. According to him, continued attempts to contact Unstoppable Domains about the issue have failed in recent months.Screenshot of patent granted to Unstoppable Domains on January 17, 2023. Source: USPTO."UD has subsequently issued a press release ‘pledging’ its first patent to the Web3 Domain Alliance, an industry group founded and run by Unstoppable Domains. We appreciate the sentiment behind this, but regrettably, press releases are not legally binding," Johnson noted in the thread. "We are thus requesting that Unstoppable Domains put legal weight behind its PR commitment, with an unconditional and irrevocable patent pledge."The ENS Labs is "ready to challenge this patent, which we believe is entirely derivative of our own inventions; a position we are able and willing to demonstrate.," Johnson warned. One of the alleged inventors from Unstoppable Domains, Matthew Gould, responded in the thread, extending an open invitation to join the Web3 Domain Alliance, the blockchain domain registry organization allegedly pledged with the patent. Gould also argued that:"I think your proposed solution doesn’t take into account the fact that we want there to be multiple naming systems - not just ENS - and the only way to ensure that future is to have a place where everyone (not just UD and ENS) collaborate."Cointelegraph reached out to Unstoppable Domains, but did not receive an immediate response. The thread has caught the attention of the crypto community. Bob Summerwill, executive director of the Ethereum Classic Cooperative (ETC Cooperative), noted that requiring organizations to join the Web3 Domain Alliance for rights over the technology is also a direct attack on the open-source ethos."Also, Matt, this prior pledge is not the same as we are talking about, because legal entities need to 'join the club' to benefit from the patent pledge. You are retaining the right to patent attack anybody who does not comply and join your alliance."Magazine: Ethereum restaking — Blockchain innovation or dangerous house of cards?

ENS developers urge Unstoppable Domains to drop patents or face lawsuit


                    
                    Bakkt is expanding its custody services shortly after its quarterly earnings report showed assets under custody declined 28%. 
                    Crypto firm Bakkt appears to be returning to digital asset custody as its primary business, adding support for six new coins, according to an announcement on Nov. 15. Aside from Bitcoin (BTC) and Ethereum (ETH), Bakkt will expand its custodial support to include Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum Classic (ETC), Litecoin (LTC), Shiba Inu (SHIB), and USD Coin (USDC). The company expects to add more coins to its custodial services early next year. The custody of digital assets focuses on the safeguarding of cryptographic keys, which are crucial for accessing and transferring assets. Various security measures are employed by custodians, such as Bakkt, to protect assets, including cold storage of coins and multi-signature technology that demands multiple approvals for access. The announcement follows Bakkt's release of its quarterly earnings report on Nov. 14, when the company disclosed an adjusted EBITDA loss (non-GAAP) of $21.6 million, a 30% decrease year-over-year due to a reduction in compensation and benefits. According to the report, Bakkt has seen its crypto revenue reach $191.8 million in the third quarter of 2023 thanks to the acquisition of Apex Crypto in April. Over the quarter, the company generated a total of $204.8 million in total revenue. In terms of assets under custody, Bakkt reported $505.7 million, a decrease of 28% over last year.Bakkt's 3Q23 earnings report. Source: Seeking AlphaTo strengthen its crypto custody arm, Bakkt is also developing partnerships. According to the company's quarterly report, it plans to offer clearing and custodial services for the Wall Street-backed crypto exchange EDX Markets, initially serving as a back-up qualified custodian. Among Bakkt's new clients on custodial services are Bitcoin platform Unchained and LeboBTC, a crypto consulting firm for institutional investors. “The events of the past year have revealed why qualified crypto custody is so necessary,” said in a statement Gavin Michael, CEO of Bakkt. Expanding custody services is also an important aspect of Bakkt's strategy for targeting business-to-business (B2B) clients. In February, the company announced that it would sunset its consumer-facing app launched in 2021 in order to focus on institutions amid the crypto winter.The custody of digital assets is also being targeted by many traditional financial institutions. Last year, BNY Mellon, the oldest bank in the United States, launched a digital custody platform to safeguard ETH and BTC holdings for selected clients. DZ Bank, Germany's third-largest bank, has alsobegun offering crypto custody to institutional investors earlier this month. Magazine: Ethereum restaking — Blockchain innovation or dangerous house of cards?