Ethereum Classic is the first cryptocurrency to rebound to mid-January levels

Among lot of sideways trading in the cryptocurrency space from the limited recovery from the late-January sell-off, Ethereum Classic (ETC) – the original currency on the Ethereum blockchain – has bounded to its pre-crash prices.

This morning, it reached $35.41 as per CoinGecko’s website, a value previously observed on January 16, the day Bitcoin collapsed 20 percent.

This is the first cryptocurrency to rebound to mid-January levels and represents a 152 percent rise in worth from its February 6 lows of $14.

There are two reasons for this, as per insiders. One, as per Coindesk is forecaster Cryptonaire’s decision to incorporate ETC in the list of verified digital assets (VDA), and the other is the build of something known as the Callisto Network Project, a latest smart-contract governance system for the ETC Blockchain with its own coin, CLO. These recent coins will be given to the ETC holders.

Western Union now “testing” Ripple
There has been lot of supposition regarding Western Union tying up with Ripple and joining the likes of MoneyGram and Dubai-based UAE Exchange, who already utilize the blockchain for cross-border payments. The company’s CFO Raj Agrawal established that it is assessing blockchain technology and is checking transactions with Ripple – although he does not trust it will be a main part of its business yet.

More Olympians take the Bitcoin plunge
After we announced on Monday that Canadian speed skater Ted-Jan Bloemen was part-funded via a cryptocurrency sponsorship, it looks he is not single. The US luge team has been receiving funding in Bitcoin from December 2017, with its own wallet to welcoming contributions. One of the initial donors to the USA Luge fund was earlier luge Olympian and Wall Street investor Ty Danco.

“Luge is something that gets into your blood and transforms your life and the Bitcoiners we’ve met know exactly what it’s like to be all in on something that the world doesn’t appreciate yet,” stated USA Luge marketing director Gordy Sheer about the tie-up.

Forbes also announced that traders, including ski rental shops, near the Olympic Village were accepting Ethereum as a payment method.

 

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