Ethereum Classic Pumps 25% Following Hard Fork Proposal

In the latest cryptocurrency news, we are seeing a continued momentum for a lot of cryptocurrencies and some great movement from Bitcoin which has also affected the rest of the market, pushing up the total market cap towards $180 billion which is the highest level that it has been since November.

And while Bitcoin is at $5,150 before a slight pullback, the 3% gain on BTC has also led some altcoins to new gains. Aside from that, Bitcoin has gained a staggering 25% and optimism has returned for many people now.

An altcoin that made the news recently is Ethereum Classic (ETC) which managed to surge by 25% to just below $7 following to a proposed hard fork called Atlantis which may be driving the momentum for ETC. The volume of ETC has also over-doubled – and from $350 million managed to reach $800 million in a short amount of time.

Around a dozen #EthereumClassic contributors, developers, pool & node operators joined today's preliminary meeting covering ECIP-1054 Atlantis, even EF's @virgilgr joined the chat.

Re-Watch ECIP-1054 Community Meeting—Atlantis & #SpuriousDragon Upgradeshttps://t.co/13Tzs687VI

— Ethereum Classic (@eth_classic) April 5, 2019

At this point, it is more than clear that ETC is the top performing altcoin in the top 100 cryptocurrencies. It managed to reach a new high for 2019 and is heading back towards price levels before November’s big dump.

Ethereum, on the other hand, has had a minor run of the tails and managed to reach $168, facing strong resistance over $170 now with a break that could send it all the way up to $200. XRP is not rallying anymore and is back at $0.36 as the gap to ETH widened to over $2 billion in market cap.

Right now, the total market capitalization is at $180 billion and is up $5 billion from this time yesterday. The daily volume is still high at $60 billion and the momentum has seen most of the altcoins reaching their highest prices for 2019.

However, despite the trend right now being bullish, it remains to be seen if the action can be sustained for a longer time – and if the best altcoins along with Bitcoin will maintain their current price levels.