ETC, the cryptocurrency of a network called Ethereum Classic designed to continue the original chain of the Ethereum network, has overtaken two dominant digital currencies Ripple and Steem to become the third largest cryptocurrency in the market.
The market cap of Ethereum Classic which is at US$240 million at the time of writing, continued to surge over the past few days due to the overwhelming support of the Ethereum and Bitcoin communities.
Bitcoin core developers including Greg Maxwell cited the negative precedents the Ethereum hard fork have set for the entire digital currency industry and voiced their support for Ethereum Classic.
With the support of developers, exchanges steadily began to offer services for Ethereum Classic, launching live ETC trading for both casual and professional traders. A few of the largest exchanges in the cryptocurrency market have already launched ETC trading, a few of the including Kraken and Poloniex.
Surge in Volume
The wide range of support from major exchanges have led to a continuous increase in the daily volume of ETC across many platforms, with 24-hour volume substantially higher than the volume of Ethereum trading. Currently, the volume of ETC is at around US$102 million, while Ethereum