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The director of Ethereum Classic ’s investment branch ETC Labs revealed in an interview Thursday, Oct. 11, that it will work with as many as 24 startups each year. Elizabeth Kukko confirmed that six selected projects were currently involved with ETC Labs in a pilot scheme, with the full incubator to launch in Q1 2019. “The goal of this pilot program is to put the incubator model to work and get feedback from these initial teams before going live,” she explained. The move comes as Ethereum Classic (ETC) continues to lose its position as the overall cryptocurrency market slump continues. In June, ETC’s prices jumped 25 percent after U.S. cryptocurrency exchange Coinbase announced it would add the token to its orderbook. At press time, ETC/USD traded around $9.55, its lowest since May 2017, but the altcoin ’s market cap still remains at over $1 billion. “[We chose] Ethereum Classic because there is a lot of security on the main layer, and it doesn’t really matter what sidecha...

While investors entered this past week expecting for the crypto market to fall further, it has become apparent that the market has temporarily staved off a move lower. Whether this recovery was a result of positive fundamentals or just a “dead cat bounce” remains to be seen. Nonetheless, this week has had its fair share of positive news that will only better this nascent industry’s fundamentals. Network Hashrates Continue To Rise , Despite Questionable Market Conditions Since the start of 2018, the cryptocurrency market has undergone a strong pullback. Contrary to what one may think, the Bitcoin network’s hashrate has continued to see a monumental rise even amidst a bearish market. In fact, Bitcoin’s hashrate has nearly quadrupled in the past eight months, even as Bitcoin fell by upwards of 65% and investors exited the market en-masse. Not only was Bitcoin affected by a runaway influx of hashing power, but the amount of computational power allocated to altcoin networks have ...

Key Highlights Ethereum classic price tumbled and broke the $12.50 and $11.20 support levels against the US dollar. There is a key connecting bearish trend line forming with resistance at $11.30 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair is slowly correcting higher towards the $11.00 and $11.30 resistance levels. Ethereum classic price made a sharp U-turn against the US Dollar and Bitcoin. ETC/USD broke the $12.50 support and is currently at risk of clearing $10.00. Ethereum Classic Price Support It seems like ETC price was rejected from well above the $14.00 level against the US dollar. The ETC/USD pair traded and consolidated above the $12.50 support for some time. However, sellers had the upper hand as they succeeded in clearing the $12.50 support. The price declined sharply below the $12.00 and $11.50 levels. The decline was such that the price even broke the $11.20 and $10.50 support levels. A new monthly low was formed at $10.11 and the p...