Cryptocurrency On Ethereum Coin BTC20 Breaks $6 In Wild Trading
The crypto world has been in full swing this week with Bitcoin Cash (BCH) and Ethereum Classic (ETC) trading on Binance, Coinbase, and other exchanges.
Ethereum has been particularly hard hit, with prices falling from over $300 to under $200 in just a few days. This comes as Coinbase announced that it will be removing Ethereum Classic from its exchange at some point in the future.
Some have speculated that this is because the Ethereum project is not decentralized enough and has too many bugs in its code. However, if you look at the numbers, it looks like something else is going on here.
The fact that ETC is trading so low means that someone is buying large amounts of ETC with their own money instead of using an exchange like Coinbase or Binance to buy it. If that person were to almost immediately sell all of their ETC, then they would push the price of ETH (parent chain) up.
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