Ethereum Classic (ETC) has posted gains of nearly 11.4% to reach $9.87—its highest value in more than a week.
This recent growth has seen Ethereum Classic leapfrog both Monero (XMR) and DASH in terms of market capitalization, landing it into position as the 12th largest cryptocurrency by total value. Ethereum Classic has now posted back-to-back gains for the past three days, and is now up more than 110% in the last month, making it one of the best performers of 2020 so far.
Although Ethereum Classic is currently leading the market by percentage growth, practically the entire cryptocurrency market is also in the green today, with gains of between 2 to 4% common across the board.
It appears that the most recent wave of bullish momentum surrounding Ethereum Classic can be attributed to the recently completed Agharta hard fork, which adds features of rival blockchain Ethereum’s (ETH) earlier Constantinople fork. The update aims to achieve complete compatibility between both Ethereum Classic and Ethereum, making it much easier for developers to launch applications on both platforms.
Now that Ethereum Classic can easily tap into Ethereum’s substantial decentralized application (dapp) development community, it stands to reason that its own dapp ecosystem could stand to grow, potentially driving up the value of ETC—in theory at least.