Ethereum Classic (ETC) has shot up almost 25 percent in minutes as rumors begin spreading of South Korean trading interest.
Having dropped to multi-month lows, ETC suddenly reversed Wednesday, climbing from $14 to almost $18 within an hour.
Sources on Twitter began suspecting the Ethereum original chain could be benefiting from trader efforts in South Korea.
EthereumClassic $ETC pump has begun in Korea. Price has increased by $2 over the last 30mins.
— Kester (@KesterWong) August 23, 2017
If the motivation indeed lies in exchange activity, ETC stands to profit from an uptick similar to that of Monero and Ripple this week.
When Bithumb, the Korean exchange currently seeing the largest volumes in the world, announced it would add Monero, its value ballooned from around $52 to almost $90 in a period of hours.
ETC had previously been as high as $24, but while famous supporters such as Barry Silbert regularly post news of developments, prices have tailed off in recent weeks.
The latest Twitter activity from Silbert Monday could even be taken as a measure of current performance.
Meh
— Barry Silbert (@barrysilbert) August 21, 2017
Today’s move means ETC is the second-highest profiting altcoin in the top fifteen, beating Monero and remaining only behind Ripple’s 60 percent gains.