Ethereum Classic’s breakout and shifting market trends – Explained – BitRss

• Open Interest surged to the 83rd percentile, indicating heightened activity and growing interest among traders.
• Grayscale’s Ethereum Classic Trust has played a pivotal role in legitimising ETC ($27.47) as an investment asset

Ethereum Classic (ETC) has caught the attention of crypto traders and investors lately due to its recent breakout and performance. In fact, the altcoin’s adherence to Proof of Work (PoW) and its historical significance in the blockchain world have made it a resilient contender in the cryptocurrency market.

As it continued with its latest breakout, its Open Interest surged to the 83rd percentile, indicating heightened activity and growing interest among traders. Simultaneously, the True Retail Long% dropped sharply to the 0.1 percentile – Its lowest recorded level.