At press time, it was trading at $18.59 with a market capitalization of over $2.6 billion, making it the 28th largest crypto. Not only did the token’s price plummet, but a similar declining trend was also noted in terms of the blockchain’s value.
As per DeFiLlama’s chart, ETC’s TVL declined over the last few weeks, which was not a good signal for the blockchain.It was interesting to note that the blockchain’s social volume remained high in the last 30 days. This reflected its popularity in the crypto space. Additionally, its weighted sentiment also went up, suggesting that positive sentiment aroundThough Ethereum Classic’s performance on the social front was high, investors should expect a few more slow moving days.
Its Relative Strength Index also took a sideways path, further increasing the chances of slow-moving price action.