Coinbase seems to be catalyst that pushes up any crypto that it is added to the platform. This is mainly because it is the largest exchange in the United States, one of the most important crypto markets in the world. This time round, the crypto that has shot up based on Coinbase related news is Ethereum classic (ETC). Though Coinbase will not be adding it right away, they have indicated that they will be adding it in a few months, as one of the products aimed at institutional investors. This has pushed Ethereum classic up by over 20%, even as the rest of the market tumbles. Now the question on every investors mind is, can Ethereum classic sustain this momentum in the long-run?
Well, looking at the things on the Ethereum Classic roadmap in 2018 and 2019, there is a good chance that it has the potential to sustain an uptrend in the long-run. For instance, part of the 2018 roadmap is the development of sidechains. These will allow Ethereum classic (ETC) to scale better, and make it more usable for the development of smart contracts. At the moment, there are several other platform blockchains working on sidechains. However, given that Ethereum classic is one of the older and better-known platform blockchains alongside Ethereum (ETH) and NEO (NEO), sidechains will push its value by a huge margin, than the newer and lesser known platforms.
The Ethereum Classic team is also working on creating compatibility with the Ethereum blockchain in 2018. This is a big deal because it will see a number of Ethereum developers cross over to Ethereum Classic. Ethereum has more than 250 thousand developers. If just a small portion of them were to crossover and create Dapps on the Ethereum classic blockchain, its value will push up by a huge margin.
However, it is the 2019 part of the roadmap that gives a hint on how big Ethereum classic can get in the long-run. In 2019, Ethereum classic will be working on a light-client for IoT. IoT is going big, as machines continue to get smarter. As such, any blockchain that makes provisions for IoT is guaranteed to go big, and Ethereum Classic is one of them.
Another interesting aspect of the Ethereum Classic (ETC) 2019 roadmap is the incorporation of Sharding, as a solution to the problem of scalability. Ethereum Classic is hoping to hit over 1000 transactions per second by 2019. This is guaranteed to drive up the usage of Ethereum Classic sin the Dapps market, and push up its value in the market.
When you put together the Coinbase listing and all the things that are in its roadmap, it is clear that Ethereum Classic is one of the most interesting cryptos to hold in 2018/19. It will surprise many, especially those who had written it off, as a dead crypto. In fact, it won’t be surprising if Ethereum Classic (ETC) hits $100 in the next 18 months. All the fundamentals point to that direction. Today’s price jump is an indicator that the potential is there, and it’s huge.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.