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The price of Ethereum Classic rose sharply on July 18 as bullish sentiment catalyzed a rally to highs of $24.55.
Ethereum Classic ($ETC) traded 20% up in 24 hours, surging to highs last seen in January 2025. This uptick came as top cryptocurrencies looked to hold onto gains, and $ETC stood out as it outpaced peers across the top 100 by market capitalization.
Notably, these upward moves by Ethereum Classic bulls aligned with overall upside strength for $ETH, $XRP and a host of other coins.
The $ETC token benefited from a spike in interest, with data showing Open Interest in the altcoin is 45% up to $273 million. While the derivatives volume has spiked 300% to more than $1.86 billion, spot volume has jumped 380% to more than $1.6 billion.
Ethereum Classic price – why is $ETC up?
Ethereum price breaking to near $3,700 and $XRP hovering near its all-time high have boosted buyers. The threat of a pullback is there, but with volumes rising amid exuberance around the $GENIUS Act, $ETC price looks set to continue higher.
According to Coinbase co-founder and chief executive officer Brian Armstrong, Trump’s signing of the $GENIUS Act into law marks the beginning of “financial revolution in the U.S.”
Ethereum Classic is the original Ethereum chain, and while it lags $ETH in terms of market performance, it gained some push with the listing on Bitstamp by Robinhood.
The cryptocurrency’s proof-of-work security, and smart contract support add to broader interest. Bitstamp by Robinhood recently added the $ETC/USD and $ETC/EUR pairs, boosting the altcoin and helping its price to bounce from lows of $18.
Gains for Ethereum, Ripple’s $XRP and top altcoins will certainly buoy Ethereum Classic. In this case, buyers may target the price levels seen in early December 2024.
There’s a key supply wall around $50, while the all-time peak above $167 is about 85% off current price levels.