Ethereum Traditional’s Worth Stumbles Amid Suspected 51% Assault

The worth of ethereum traditional (ETC) is pulling again because of a recently reported assault that resulted in a collection of blockchain historical past rewrites.

At press time, ETC is buying and selling at a mean value of $5.01 – down greater than 7.5 % prior to now 24 hours, based on knowledge from CoinMarketCap.

ETC had fallen to an intraday low of $4.93 at 20:00 UTC, which on the time registered a close to 10 % each day depreciation.

Ethereum Traditional Worth Chart

As may be seen within the above chart, the worth of ETC started to see a sell-off after it reached $5.51 at 17:00 UTC yesterday – its highest value since Dec. 26.

Preliminary studies of the suspected 51 percent attack – by which an entity controls a majority of a community’s processing energy and might then try and rewrite its historical past – appeared at roughly 5:00 UTC, at which era value was buying and selling at $5.30 and remained secure till 9:00 UTC, when the sell-off started to speed up. The worth would finally drop greater than 12 % at 20:00 UTC from its 24-hour excessive.

Whereas ETC, the 18th largest cryptocurrency on the earth by market cap, just isn’t the worst performing cryptocurrency of the day, it’s noticeably under-performing the opposite main cryptocurrencies.

On the time of writing, ETC is the one cryptocurrency out of the world’s 20 largest to report a 24-hour loss above 5 %. For reference, bitcoin is reporting a minor lack of lower than 1 % in the present day.

Disclosure: The creator holds BTC, AST, REQ, OMG, FUEL, 1st and AMP on the time of writing.

Metal slide image through Shutterstock

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