Previous ETC highs had faltered at around $23 and a period of reduced public activity from major proponent Barry Silbert had led to several months of flat growth activity.
Ethereum Classic (ETC) has rocketed in price to new all-time highs as the altcoin’s hard fork deadline next month nears.
Following increased enthusiasm at a recent developer conference in Hong Kong, ETC hit $34 in trading Tuesday after news of “significant changes” became mainstream.
The move represents near-50 percent growth in 24 hours, ETC’s best performance to date and a signal to traders that momentum is building to ‘copy’ Ethereum’s (ETH) own push past all-time highs.
So I went window shopping on Poloniex. And I bumped into this beauty.
It’s likely gonna follow the footsteps of $ETH and break ATH in a few days time.
Bought $ETC. Let’s go.#EthereumClassic pic.twitter.com/3PDbbSeEtZ
– Squeeze LSK (@cryptoSqueeze) November 24, 2017
Silbert has since returned to modest updates on Twitter, confirming a new price record as the $24 levels came and went earlier today.
New all-time high for Ethereum Classic ($ETC): $25.00
Some helpful resources to learn more about ETC:https://t.co/zkgO4LlgMHhttps://t.co/aK4aarWdH0https://t.co/bQqHBRA9Unhttps://t.co/OLqkO6UmZy
– Barry Silbert (@barrysilbert) November 27, 2017
In addition to the technical improvements planned for ETC, developers also announced the departure of Bitnovosti from the project as they now consider it “self-sustaining.”
“Bitnovosti has decided to leave Ethereum Classic, this was always a part of their plan, get us setup, be our lightening rod, and then step back once we were self sustaining”, a Reddit post reads.
“With three development teams, a passionate community, the ETC Cooperative, our first summit, and wide exchange adoption I’d say we’re there.”
The hard fork meanwhile will deliver a “stable coin supply” and stealth addresses to ensure transaction privacy, an announcement states this week. The event is due to take place Dec. 12.