Why Ethereum Classic Is Skyrocketing

Created By Fintech Team

On Tuesday, Ethereum Classic (CRYPTO: ETC) shows bullish market, and trading higher by some 12.29% to $29.47 

In support of the leading cryptocurrency Bitcoin, shares of numerous other altcoins are trading higher.

Also in sympathy to the second largest market cap Ethereum (Crypto: ETH) and US equities. 

However, consumer confidence in the US has decreased, according to recent economic figures.

It suggests that consumers may cut down on spending due to concerns about the recession and swift interest rate hikes.

The world’s largest digital currency by market capitalization Bitcoin (CRYPTO: BTC) crossed the psychologically important level of $20,000 Tuesday

Concluding its longest stretch below that level since the token first crossed it in late 2020.

Bitcoin was trading up by around 4% to $20,185 on Tuesday.