3. Ethereum Classic (ETC)
Long-time readers may be surprised to learn that ETC has returned from its position as one of last year’s hottest currencies. Ethereum Classic represents a fork of Ethereum in which The DAO’s hack was not reversed. That hack had resulted in the theft of US$30 million in ETH prior to the fork. The 2015 fork was supported by fundamentalists who suggested a decentralized environment cannot foster “rollbacks” or “do-overs”. It also played a role in the technology behind Cardano (ADA).
At the current price of US$16, ETC’s valuation relative to ETH is much smaller than Bitcoin Cash relative to Bitcoin. However, it’s recently gained a lot of attention for its listing on Coinbase Pro, which is commonly referred to as the most accessible exchange for new investors. ETC is only the fifth currency available on this exchange, and in being the cheapest of the five, it is speculated that uneducated investors will flock to ETC. It currently ranks 13th among all cryptocurrencies with a market cap of US$1.5 billion.