Ethereum Classic (ETC), one of the earliest coins that I learnt about when I was greener, one of the top 20 coins in the CoinMartketCap, has fallen victim to the ultra-bearish market.
The main developer team ETCDEV announced the rather shocking news to the community 2 days ago about the activities shut down and they are not going to continue the work anymore.
It was due to the finance issue, apparently.
The bad news has crashed the ETH price on top of the overall market crashing recently. Putting it down to all-time-low $4.23 in a year. I’m not familiar with ETC but I’m certain that a shutdown of the main developer should not kill the ought-to-be decentralized currency. After all, that is what defines the decentralization. A coin that crashes to dust after a small team(prominent in the very community) is left would be way worse than the centralized fiat that crypto enthusiasts hate so much. It would be a joke.
With that said, the temporary crash could be a golden opportunity for those who wanted to own some ETC at a cheap price? Given that the remaining developing teams or even the communities would now taking over the project. (not a financial advice obviously lol)
Steem 3/4 layoff looks cool and much more acceptable in the comparison. I’m so glad Steem is still functioning well. People are leaving the platform every day but those who stay still able to do whatever they were doing before the layoff. Staying afloat is the top priority.
Posted from my blog with SteemPress : https://fr3eze.vornix.blog/etc-was-sucker-punched-hard/
This page is synchronized from the post: ‘ETC was sucker punched, hard.’