Crypto Market Update: Focus on Ethereum Classic (ETC) and Its Atlantis Hard Fork

Siamak Masnavi

The price of Ethereum Classic (ETC) seems to have surged over 12% due to excitement surrounding the upcoming Atlantis hard fork event.

According to data from CryptoCompare, Ethereum Classic started its impressive surge around 06:00 UTC on Tuesday (August 20) when ETC was trading at $5.499. By 02:00 UTC on Wednesday (August 21), the ETC price had reached $6.272, for an increase of just over 14%.

At press time (06:17 UTC on August 21), Ethereum Classic is trading at 6.176, up over 12.19% in the past 24-hour period:

ETC-USD 24 Hour Chart - 21 August 2019.png   

The most likely explanation for Ethereum Classic's price action seems to be excitement over Atlantis, the planned hard fork (at block 8,772,000), which is expected to take place on Friday, September 13.

According to the Medium blog post by Stevan Lohja, Technology Coordinator at Ethereum Classic Labs, Atlantis "implements Ethereum’s Byzantium and Spurious Dragon upgrades to the Ethereum Classic network and has been adopted as an accepted Ethereum Classic Improvement specification which can be found at ECIP-1054."

Lohja also reminds us that the "Kotti test network underwent a hard fork on June 19 at block 716,617 and Morden test network on Jul 29 at block 4,729,274."

Featured Image Credit: Photo via Pixabay.com

Warren Buffett Donated the near $40,000 Worth of Cryptocurrency Justin Sun Gave Him

Earlier CryptoGlobe reported that Warren Buffett doubled down on his anti-bitcoin approach, calling the cryptocurrency “worthless” and bashing it by saying its economic impact was to reduce demand for suitcases.

His comments came after a meal with TRON Founder Justin Sun and other prominent figures from the cryptocurrency space – including Litecoin’s Charlie Lee and eToro’s Yoni Assia. In the interview where he made those comments he was asked how it feels to be a bitcoiners as Sun said he sent the billionaire investor 1 BTC and 1.9 million TRX, as well as various TRC-20 tokens.

Buffett responded he didn’t hold any cryptocurrency and added he “never will.” His comments soon became controversial as some claimed Sun was laying. This saw the entrepreneur – who’s acquired crypto exchange Poloniex, BitTorrent, and Steemit – share the transaction records on social media to prove he was telling the truth.

.Sun also shared the TRON account created for Buffett, which currently holds over 1.9 million TRX, 20,000 BTT, 19,000 WINk, and some other tokens. In total, the address has nearly $30,000 worth of TRX and TRC-20 and TRC-10 tokens,

Twitter users responded to Sun’s tweets quickly, prompting CNBC reporter Becky Quick to try and find out why the ‘Oracle of Omaha’ said he didn’t own any cryptocurrency, even though blockchain transaction records show he was gifted some.

Quick revealed later on that she called Buffett to clarify the ordeal. The CEO of Berkshire Hathaway reportedly replied that he donated the nearly $40,000 worth of cryptocurrency to the GLIDE Foundation, which he was raising money for.

Notably, Sun had dinner with Buffett after paying a record $4.6 million in an auction whose proceeds go to the anti-poverty non-profit organization based in San Francisco.

Featured image via Unsplash.