Ethereum Classic Price Drops Over 4% in 24 Hours
Ethereum Classic's price has taken a significant hit, decreasing 4.82% within the past 24 hours, settling at $24.22. This decline is part of a week-long downward trend where the price has dropped from $27.0 to its current rate, marking a 10.0% decrease over the last week.
The chart above compares the price movement and volatility for Ethereum Classic over the past 24 hours (left) to its price movement over the past week (right). The gray bands you see are called Bollinger Bands, which measure the volatility in price movements both daily and weekly. The wider these bands are, the larger the volatility.
Trading Volume and Circulating Supply
There has also been a noticeable change in the trading volume for Ethereum Classic, which has fallen by 12.0% over the past week. This decrease in trading volume is opposite to the circulating supply of the coin, which has slightly increased by 0.06%.
The current circulating supply of Ethereum Classic stands at 147.56 million, making up approximately 70.03% of its maximum supply of 210.70 million.
Market Cap and Rankings
In terms of market presence, Ethereum Classic holds the position of #29 with a market cap of $3.59 billion.
By observing these trends, it's clear that Ethereum Classic is experiencing some volatility, which can impact investor confidence. The combination of falling price, decreased trading volume, and increased circulating supply can be critical factors for potential investors to consider.
