Overview
Ethereum Classic (ETC) is the original Ethereum blockchain. In 2016, a hacker drained funds from “The DAO”, a large Ethereum project. Most of the community chose to rewrite history with a hard fork to return the money; that chain became today’s Ethereum. A minority refused, arguing that “code is law” and the blockchain should never be changed. Their chain continued as Ethereum Classic.
How it works
- ETC still uses proof of work: miners with GPUs secure the network.
- It runs Ethereum-style smart contracts, so the same tools work.
- Supply is capped at about 210.7 million ETC. Every 5 million blocks (roughly every two years), the block reward drops by 20%; the latest cut, nicknamed the “Fifthening”, happened in 2026.
- The planned Olympia upgrade, targeted for the end of 2026, would add an Ethereum-style fee burn and an on-chain treasury to fund development.
The ETC token
| ETC at a glance | |
|---|---|
| Maximum supply | about 210.7 million ETC |
| In circulation (Oct 2026) | about 158.9 million |
| Price (29 Oct 2026) | about $7.59 |
| All-time high | about $167 (May 2021) |
| Market cap | about $1.2 billion (#70) |
Risks
- Security. ETC has much less mining power than Bitcoin. In 2019 and 2020, attackers rewrote parts of its history in 51% attacks, double-spending millions of dollars.
- Low usage. Only about 1,300 active addresses per day in 2026, according to one analysis.
- Valuation. Some investors consider it overvalued relative to its activity.
- Competition. Ethereum and many other smart-contract chains are far more active.
Ethereum Classic vs. the competition
| Ethereum Classic | Ethereum | Bitcoin | |
|---|---|---|---|
| Consensus | Proof of work | Proof of stake | Proof of work |
| Supply | ~210.7 million cap | No cap | 21 million cap |
| Activity | Very low | Very high | High |
Our verdict
Ethereum Classic stands for a principle — never rewriting the blockchain — and offers a fixed-supply, proof-of-work smart-contract chain. But its activity is very low, its security has been breached before, and ETC is about 95% below its peak. ETC is a high-risk investment: invest only what you can afford to lose.
This review is for information only and is not financial advice.