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The issuance price and total issuance of ETC coins are understood in one article
ETC Classic (ETC) coins, initially launched in 2014 at a price of $0.31, have a fixed supply of 210,700,000 units and a current market capitalization of approximately $2.5 billion.
Oct 20, 2024 at 07:53 am
Understanding the Issuance Price and Total Issuance of ETC Classic (ETC) Coins
1. Issuance Price
The ETC Classic (ETC) coin was originally an Ethereum token launched as part of the Ethereum initial coin offering (ICO) in 2014. The ICO price for ETH tokens was set at 0.311 Bitcoin (BTC), or approximately $0.31 at the time.
2. Total Issuance
The total issuance of ETC coins is capped at 210,700,000 units. This fixed supply limit was determined during the creation of the ETC blockchain, following a contentious hard fork from the Ethereum blockchain in 2016.
3. Transaction Costs
ETC transaction costs vary according to network congestion and gas prices. However, they are generally lower than those for Ethereum transactions. As of 2023, the average ETC transaction cost is approximately $0.01.
4. Market Capitalization
The market capitalization of ETC is determined by multiplying the current ETC price by the total supply. As of 2023, ETC has a market capitalization of approximately $2.5 billion.
5. Value Proposition
ETC is primarily used by miners to process transactions on the Ethereum Classic blockchain. It also serves as a speculative investment asset for traders and investors. ETC's value proposition lies in its immutability, decentralization, and scarcity, as well as its potential to become a transactional currency in the future.
Additional Information:
- The Ethereum Classic blockchain uses a proof-of-work consensus mechanism.
- ETC coins are created through the mining process.
- ETC is listed on various cryptocurrency exchanges.
- The price of ETC can fluctuate based on supply and demand, market sentiment, and other factors.
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