Augur users Bet on Ethereum Classic (ETC) delisting from Coinbase

ETC/USD moves down in sync with the rest of the market.
Augur bet may kill the coin.

Users of Augur platform now can bet on Ethereum Classic delisting from Coinbase. According to Emin Gün Sirer, professor of Cornell University, this bet might turn into ETC killer.

"This is, in effect, an assassination market for ETC," he wrote in his Twitter account.

Most likely, these sentiments are related to attack 51% on ETC network. Also, it should be noted that ETCDEV, a leading ETC dev team left the project due to lack of financing.

Meanwhile, ETC/USD is changing hands at $4.61, down nearly 9% since this time on Wednesday. The coin is moving in sync with the broader market, while the sell-off is intensified by deteriorated technical factors. The price needs to regain $5.0 and $5.2 (confluence of SMA100 and SMA50, 4-hour) to mitigate the immediate downside pressure. Once this barrier out of the way, ETC/USD may proceed to the recent highs at $5.69 and to $6.0.

On the downside, a sustainable move under $4.5 handle will unleash bearish forces and push the price towards a critical $4.00.

ETC/USD, 4-hour chart

Share: Cryptos feed

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.