Although Ethereum Classic’s ETC has value as a speculative digital asset that investors can trade, Ethereum’s ETH is considered the more legitimate and widely traded. In early 2021, the Chicago Mercantile Exchange (CME) approved the trading of ether futures. Only Bitcoin and Ether have been approved for such transactions. The futures are derivative contracts on an underlying security with a fixed price and maturity date. Ether futures allow investors to trade ether for speculation but also to hedge an outstanding position in ETH or perhaps other cryptos.
We can determine how the investment community views ETC versus ETH by analyzing how much capital or investment dollars are being committed to the two currencies. When comparing the two market capitalizations of the two cryptos, ETH is the clear winner. The market cap of a cryptocurrency is calculated by multiplying the currency’s price—based on a fiat currency such as U.S. dollars—by the outstanding coins or tokens in circulation.
ETC has 133.9 million coins in circulation with a market capitalization of $6.1 billion while ETH has approximately 120 million in circulation and a market cap of more than $417 billion. ETC trades at $46.00, while ETH trades for more than $3,475 per coin as of April 2, 2022.
Although both networks offer smart contracts, the potential for the aforementioned security concerns surrounding ETC will likely push investors to invest in ETH and adopt Ethereum’s smart contracts versus those of Ethereum’s Classic.