Ethereum Classic (ETC) has continued the parabolic rally that started in late March today.
According to Coingecko data, the ETC has gained almost 50 percent in the last 24 hours.
The price of the 20th largest cryptocurrency in terms of market capitalization rose to an all-time high of $ 81.
One of the biggest reasons behind the current price action could be that it maintains the positive performance it started at the end of the first quarter of 2021.
In the aforementioned period, Ethereum Classic and Bitcoin Cash (BCH), the Bitcoin fork, started a big bullish movement. Ethereum Classic also occurred in 2016 as an Ethereum fork.
The interest of individual investors around ETC, which can also be accessed via the popular trading application Robinhood, is increasing. The search volume for Ethereum Classic is also on the rise, according to Google Trends data.
Interest in ETC may also be related to Ether (ETH), which recently broke a record after record and exceeded $ 3,500.
ETC, shown as a much cheaper alternative to ETH, surpassed Ether more than three times in terms of value earned during the year.
Robinhood only supports trading of Bitcoin, Bitcoin Cash, Dogecoin, Ethereum, Litecoin and…Ethereum Classic
I think I now know where the DOGE money is going next https://t.co/wH72c7Hi6O
— Barry Silbert (@BarrySilbert) May 4, 2021
Individual investors are not the only ones showing interest in ETC. Grayscale also increased its Ethereum Classic savings and the value of managed assets in the Grayscale Ethereum Classic Fund exceeded $ 711.6 million.