SFOX
SFOX
Dec 22, 2018 · 3 min read

We’re pleased to announce that, as of today, we have enabled Ethereum Classic (ETC) trading on SFOX.

You can now get institution-grade liquidity and execution on your largest ETC trades, using our eight proprietary trading algorithms to trade across multiple leading crypto exchanges.

Sign up now to start trading.

Ethereum Classic is currently the #17 cryptocurrency by market cap, valued collectively at just under $440 million. ETC is the fifth cryptoasset we’ve enabled on SFOX, furthering our mission to provide unparalleled liquidity and access to the crypto asset class.

Why Ethereum Classic?

Ethereum Classic was born from the aftermath of the DAO hack that shook the Ethereum community in mid-2016. The Decentralized Autonomous Organization (DAO) was launched at the end of April 2016 with the promise of being the first decentralized, automated, investor-direct venture capital fund, run through smart contracts on Ethereum. However, the DAO was derailed just two months later, when, on June 17th, a hacker exploited a smart-contract vulnerability and stole 3.6 million ETH from the DAO’s investors.

When the DAO was hacked, ETH’s price was cut in half, from $20 USD to $10 USD. Source: From Crowdfunded Blockchain to ICO Machine: An Ethereum Price History.

The hack ended up being a divisive and pivotal moment for the Ethereum community: people couldn’t agree on whether or not to erase the fraudulent transactions via a hard fork and refund DAO investors in light of the hack. Ultimately, the Ethereum development team put the issue to a community vote. 85% of the network’s hashpower supported the fork, leading to a new blockchain that did, in fact, refund DAO investors.

However, that last 15% of hashpower — a vocal minority — dissented from the fork, staying behind on the blockchain that retained a record of the DAO hack and became known as Ethereum Classic. Those who favored Ethereum Classic over Ethereum argued that it was dangerous to set a precedent that allowed Vitalik Buterin and his immediate cohort to (as they saw it) arbitrarily erase transactions whenever they deemed it necessary.

While ETC is much smaller than ETH both in terms of market cap and total hash power, it’s proven that it has a market and staying power as a blockchain that values immutability above all else — even at the cost of multimillion-dollar hacks.

How to Trade Ethereum Classic

To start trading Ethereum Classic, log into SFOX and select the “ETC/BTC” pair or the “ETC/USD” pair from our integrated order book to connect to a range of ETC liquidity providers from one account.

Once you’ve selected your preferred ETC pair, choose from one of our eight institution-grade trading algorithms get the best prices and speed on your largest orders.

Open an SFOX account and get started!

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The above references an opinion and is for informational purposes only. It is not intended as and does not constitute investment advice, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any cryptocurrency, security, product, service or investment. Seek a duly licensed professional for investment advice. The information provided here or in any communication containing a link to this site is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject SFOX, Inc. or its affiliates to any registration requirement within such jurisdiction or country. Neither the information, nor any opinion contained in this site constitutes a solicitation or offer by SFOX, Inc. or its affiliates to buy or sell any cryptocurrencies, securities, futures, options or other financial instruments or provide any investment advice or service.

SFOX Edge

Institution-Grade Crypto Insights and Analyses

SFOX

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SFOX

Prime dealer of cryptoassets for sophisticated traders and institutional investors.

SFOX Edge

SFOX Edge

Institution-Grade Crypto Insights and Analyses

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