Ethereum Classic (ETC) is up 160 percent year-to-date. Ethereum Classic has had a fantastic year so far with rising metrics like active addresses and transaction volume.
Ethereum Classic is up 160 percent year-to-date
The new year seems to have brought renewed vigor to the crypto industry as the overall market has seen decent growth over the past two months.
And while many analysts were predicting a strong start to 2020, the biggest growth was expected to come from Bitcoin and other large-cap altcoins like Ethereum and Bitcoin Cash. Almost all of the top-tier cryptocurrencies have seen significant growth since Jan. 1, but have been eclipsed by the price spikes experienced by some of the smaller cryptocurrencies.
Ethereum Classic, an Ethereum fork and sequel to its original blockchain, has seen a huge surge this year, beating Ethereum for its year-to-date (YTD) returns.
Graph showing the price of Ethereum Classic from January 1, 2020 to February 13, 2020. (Source: CryptoSlate ETC)
If you had invested in Ethereum (ETH) instead, you would only have been up about 100 percent YTD.
ETC is seeing strong growth in active users and transaction volume
However, the price is not the only Ethereum Classic metric that has increased. Data from IntoTheBlock showed that the entire ETC network was successful.
According to the company’s tweet, there are currently 2.17 million addresses holding balances in Ethereum Classic. While the number is significantly smaller than the 48.3 million addresses holding a balance in Ethereum, ETC saw a higher active address ratio.
IntoTheBlock data showed that Ethereum Classic had a 30-day average active address rate of 2.76 percent. That means 2.76 percent of addresses on the network made at least one transaction in the past month. Ethereum, on the other hand, has an average active ratio of 0.57.
Ethereum Classic 7-day average transaction volume was around 3.03 million ETC, while Ethereum 7-day average transaction volume was 2.33 million ETH.
According to the company’s In/Out-of-the-Money analysis, 47.49 percent of all addresses with an ETC balance are currently in the money. This means that 873,890 addresses would make a profit if they sold their Ethereum Classic position today.
About 74.6 million ETC, or 64 percent of the total circulating supply, is held at all of these addresses, the company said, giving them a combined value of over $877 million at current prices.
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