Why Ethereum Classic Is Skyrocketing

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

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

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

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

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

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

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

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

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