Crypto
ETC Sinks Amid Broader Market Risk-Off Move
Ethereum Classic (ETC) experienced a 3.5% drop over the past 14 hours, but it's not due to any ETC-specific news or event.
The timing of this drop coincides with a broader market-wide risk-off move, where major cryptocurrencies like Bitcoin and Ethereum plummeted in value.
A total crypto market cap fell by 2.7% from $2.23 trillion to $2.17 trillion over the past 24 hours, indicating a widespread decline across the cryptocurrency market.
The recent downturn is attributed to regulatory and geopolitical headlines, including the U.S. CLARITY Act and paused hostilities between the U.S. and Iran, as well as leveraged liquidations across major cryptocurrencies.