
Ethereum Classic priceETC
ETC/USD price calculator
Ethereum Classic market info
Live Ethereum Classic price today in USD
The cryptocurrency market is currently navigating a period of significant turbulence, with February 8, 2026, marking a continuation of a broad downturn that has sent ripples across the digital asset landscape. Investor sentiment is dominated by 'Extreme Fear,' as major cryptocurrencies experience substantial price corrections.
Bitcoin's Significant Price Correction Sparks Market-Wide Concern
Bitcoin (BTC), the market's leading cryptocurrency, has seen a dramatic plunge, trading around $69,122 as of February 8, 2026. This comes after BTC breached the critical $70,000 psychological barrier, and even dipped below $65,000 on February 6, 2026. The initial sharp decline saw Bitcoin's price fall to $69,122, reflecting a 3.31% drop in just 24 hours. This downturn is not an isolated event but rather a wake-up call for investors, signaling heightened volatility and widespread panic selling. The total cryptocurrency market capitalization, which stood at a staggering $2.44 trillion, with Bitcoin alone accounting for 56.65% of that dominance, has been significantly impacted by these movements.
Analysts are pointing to several factors contributing to this market-wide sell-off. A broader retreat in speculative investments, influenced by the Federal Reserve's cautious stance on future interest rate reductions, has dampened market enthusiasm. Furthermore, fragile market liquidity is amplifying price swings, making the market more susceptible to significant movements. Some observers suggest that the very institutional adoption, once celebrated, might be contributing to a new set of market dynamics, highlighting metrics like the Coinbase premium, stablecoin market cap, and basis trade yields as underlying indicators. This period is being characterized by some as a "severe Crypto Winter transition."
Altcoins Bleed as Ethereum and XRP Face Declines
The bearish sentiment has not spared altcoins. Ethereum (ETH), the second-largest cryptocurrency by market cap, has also seen its value dip by 1.85% to $2,073.89. XRP experienced an even harder hit with a 4.53% decline. Many altcoins are reporting significant losses, with some experiencing drops of 25% to 30% or more over the past week, indicating a broad-based market correction.
Major Exchange Mishap Briefly Rattles South Korean Market
In a notable event, South Korean cryptocurrency exchange Bithumb issued an apology after accidentally transferring over $40 billion worth of Bitcoin to users. This error, which occurred on Friday, February 7, 2026, briefly triggered a selloff on the platform. Bithumb stated that it inadvertently sent 620,000 bitcoins and quickly blocked trading and withdrawals for the 695 affected users within 35 minutes. The exchange reported that 99.7% of the mistakenly sent bitcoins were recovered, and it committed to using its own assets to cover any remaining losses. The incident briefly caused "sharp volatility" in Bitcoin prices on the platform as some recipients engaged in panic selling.
Resilient Altcoins and Upcoming Industry Events
Despite the prevailing market downturn, a few altcoins are demonstrating resilience. Hyperliquid (HYPE) has notably risen by 30% since the beginning of the year, driven by the imminent launch of new products for crypto traders. Monero (XMR), a privacy-focused cryptocurrency, is also being watched for a potential recovery, benefiting from renewed interest in privacy coins.
The crypto community is also looking ahead to a series of significant industry conferences and events scheduled for February and throughout 2026. These include the Consensus Hong Kong (February 10-12), NFT Paris (February 5-6), Digital Assets Forum (February 5-6), and ETHDenver (February 17-21). These gatherings are crucial for discussing institutional adoption, regulatory developments, and technological breakthroughs, offering potential catalysts for future market sentiment and innovation.
While the market currently faces headwinds, the long-term outlook from some experts earlier in late 2025 predicted a bullish year for 2026, with Bitcoin, Ethereum, and Solana potentially reaching new all-time highs driven by sustained institutional demand and regulatory clarity. The present volatility underscores the dynamic and unpredictable nature of the cryptocurrency market, urging investors to remain vigilant and informed.
Do you think the price of Ethereum Classic will rise or fall today?
Now that you know the price of Ethereum Classic today, here's what else you can explore:
How to buy Ethereum Classic (ETC)?How to sell Ethereum Classic (ETC)?What is Ethereum Classic (ETC)What would have happened if you had bought Ethereum Classic (ETC)?What is the Ethereum Classic (ETC) price prediction for this year, 2030, and 2050?Where can I download Ethereum Classic (ETC) historical price data?What are the prices of similar cryptocurrencies today?Want to get cryptocurrencies instantly?
Buy cryptocurrencies directly with a credit card.Trade various cryptocurrencies on the spot platform for arbitrage.Ethereum Classic price prediction
When is a good time to buy ETC? Should I buy or sell ETC now?
About Ethereum Classic (ETC)
About Ethereum Classic
In 2016, Ethereum suffered a major exploitation, resulting in a loss of 3.6 million ETH, worth approximately US$60 million at the time, and potentially worth billions of USD today. This hack had far-reaching consequences within the crypto industry: investors were in a state of panic and hurriedly sold off their holdings, while critics of cryptocurrencies used the opportunity to criticize blockchain">blockchain technology. Meanwhile, Ethereum developers were under immense pressure to find a solution, as the hackers had only 28 days to cash out the stolen 5% total supply of ETH in circulation.
Fortunately, a solution emerged: reverting the Ethereum blockchain to a state before the hack occurred. This way, those affected by the exploit could retain their funds, and it was as if the unfortunate event had never taken place. The majority of voter-miners approved this solution, and it received endorsement from Vitalik Buterin, the creator of Ethereum. Consequently, Ethereum was reversed, and the hack no longer existed on the new hard fork, which became the main Ethereum chain. The original chain, which still contained the stolen funds, was then referred to as Ethereum Classic (ETC).
Despite being less popular than ETH, Ethereum Classic is supported by many who embrace the philosophy of "Code is King." They believe that the immutability of the blockchain must be upheld at all costs. Supporters of Ethereum Classic argue that reversing the exploit goes against the fundamental principles of blockchain and compromises the technology's essential security. This reason is why they chose proof-of-Stake (PoS). On the Ethereum Classic website, developers claim that PoW is more secure due to its 50% fault tolerance, whereas a PoS network can be influenced with just 33% fault tolerance. However, it is worth noting that Ethereum Classic experienced multiple 51% attacks in 2019 and 2020, raising concerns about its security.
Resources
Official website: https://ethereumclassic.org/
How Ethereum Classic (ETC) Works
Up until block number 1,920,000, Ethereum Classic and Ethereum are technically identical. Originally, Ethereum Classic was planned to support PoS, just like Ethereum, as it made the transition. However, after various updates and debates, the developers of Ethereum Classic decided to remain with PoW, prioritizing security over speed and scalability. The team acknowledges that Ethereum Classic is "conservatively run," committed to preserving the pure essence of blockchain ideals. While Ethereum Classic shares many similarities with pre-Merge Ethereum, there are notable differences:
- Prioritization of integrity and security over speed and scalability.
- Full replication of data rather than fragmentation of data, as seen in Ethereum.
- The token of Ethereum Classic, ETC, has a hard cap, unlike Ethereum's ETH, to ensure property rights of holders.
Critics of Ethereum Classic's PoW consensus mechanism argue that it consumes excessive energy and is too slow for processing daily transactions. Nonetheless, supporters counter that PoW provides a significantly safer network, making it ideal as a layer 1 to handle large volumes of transactions, while Ethereum can be used as a layer 2 to group transactions to send to Ethereum Classic.
What Determines Ethereum Classic's Price?
Understanding the factors that affect the Ethereum Classic Price requires a comprehensive look into its market dynamics, technological updates, and investor sentiment. One of the key drivers of Ethereum Classic price today is its historical relationship with Ethereum (ETH). Born from a hard fork following the DAO hack in 2016, Ethereum Classic (ETC) is considered by some as the "original" Ethereum. This viewpoint has resulted in distinct market behaviors when comparing Ethereum Classic vs Ethereum price.
While Ethereum moved to scalability and adopting Proof-of-Stake consensus mechanisms, Ethereum Classic remains steadfast in its original Proof-of-Work system. This difference has attracted a specific group of miners and investors, thus affecting the ETC to USD conversion rates and contributing to the Ethereum Classic market cap.
Another vital aspect in Ethereum Classic price analysis is its rate of adoption and technological advancements—or lack thereof. Unlike Ethereum, which boasts a bustling ecosystem of Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs), Ethereum Classic has lagged in these areas. This lag has direct implications for ETC price prediction and impacts the current Ethereum Classic price, making it more volatile and highly dependent on market sentiment.
Investor confidence is often reflected in ETC price news and Ethereum Classic price updates, which can significantly influence the ETC coin price. Regulatory shifts, security concerns, and broader market trends in the crypto space also play crucial roles in shaping the Ethereum Classic price forecast and its future investment potential.
Conclusion
In conclusion, Ethereum Classic prioritizes security and immutability, serving as a reminder of diverse perspectives in the crypto world. With staunch proponents advocating the "Code is King" philosophy, Ethereum Classic remains committed to upholding the core principles of blockchain, even if it means compromising on speed and scalability.
It's important to note that like any other cryptocurrencies, Ethereum Classic carries its own risks and it's always wise to do your own research and exercise caution while investing.
Bitget Insights








