Ethereum Classic to the moon?

Ethereum Classic (ETC), one of MiningStores recommended coins to mine, has had some very impressive price gains in the past week. As a result, our GPU mining community are licking their lips at the new daily profits this coin is providing. 

What is causing ETC to rise? 

This week, two major trading platforms Coinbase and Robinhood Crypto, have listed ETC on their exchanges. As a result, ETC market capitalisation has increased to $1.9 billion USD and ETC/USD was up over 13% overnight. 

This is great news for ETC which currently sitting on the brink of the top 10 coins for market capitalisation according to coinmarketcap.com. Many cryptocurrency traders have been looking for another major coin to diversify their portfolio with, and ETC is putting its hand up for this position. 

Where will ETC go from here? 

As always, exponential rallies are faced by a key resistance line, and inevitably the price of the coin starts to fall. Although this may be true, it also presents an opportunity for traders to buy into a coin with excellent fundamentals at a discount price! The decision is always up to the investor whether to buy a coin or not, but if you agree with the fundamentals of this coin then of course you should buy. 

If you’ve followed our conservative recommendation of mining Ethereum Classic (ETC) over the past months then well done! In the last day we’ve seen the price rise from AU$22 to AU$27.5. That’s a $5.50 increase, meaning that if you’ve held your coins, then your daily returns just went up 22% overnight!

Conclusion

Ethereum Classic has shown impressive gains recently, driven by its listing on major trading platforms like Coinbase and Robinhood Crypto. With its market capitalisation reaching 1.9 billion US dollars and a 13 percent overnight rise, ETC has become a strong choice for traders looking to diversify, and an even stronger one for miners already accumulating the coin. As with any exponential rally, the move is momentum rather than a guarantee, which is exactly why steadily mining a coin with solid fundamentals tends to beat trying to time a single buy.

This surge is good news for anyone in the GPU mining community. If you have followed the Mining Store recommendation to mine Ethereum Classic, your daily returns have just had a meaningful boost. For everyone else, it is a timely reminder that crypto mining in Australia lets you build a position over time instead of chasing price. As Australia’s number-one supplier of ASIC miners, Mining Store has helped over 6,000 Australians get started with the right hardware, expert setup and ongoing support. Your results still depend on coin price, machine efficiency and power cost, so it is worth understanding mining profitability before you commit, and if running hardware at home is not practical you can run your rig on cheaper power through professional crypto mining hosting.

To make the most of the current market, book a free 30-minute consultation with Mining Store Australia and get personalised advice on the right mining strategy for your goals. When you are ready to buy a pre-built, plug-and-play machine, browse our ASIC miners online and start your bitcoin mining Australia journey today.