Ethereum Classic Rises Amid Crypto Market Buzz: What's Going On?

Ethereum Classic ETC/USD is trading higher Tuesday, up 3.12% to $18.82, as the broader crypto market gains momentum. ETC’s rise Tuesday follows a surge in investor interest across digital assets, catalyzed in part by major news from Trump Media & Technology Group, which announced plans to raise $2.5 billion to build a bitcoin treasury.

What To Know: Trump Media, parent company of Truth Social and controlled by Donald Trump's family, aims to raise $1.5 billion via common stock and $1 billion through convertible notes. CEO Devin Nunes said the move is designed to shield the company from financial institution "harassment" and to integrate cryptocurrency into the firm's ecosystem.

This high-profile embrace of crypto by Trump Media may be fueling optimism across the sector, with Ethereum Classic among the beneficiaries.

What Else: ETC is a decentralized, open-source blockchain platform that split from Ethereum in 2016 following a major hack. It maintains the original Ethereum blockchain and supports smart contracts without centralized governance.

As bitcoin hits record highs and mainstream players deepen crypto involvement, Ethereum Classic is gaining renewed attention from investors seeking alternatives to Ethereum and Bitcoin.

Read Also: D-Wave Quantum Stock Falls: What’s Driving Recent Volatility After Advantage2 Launch?

Photo: Shutterstock