ETC price did not rise as anticipated ahead of the CLO airdrop, and a last-minute news from Bittrex pushed it further down.
Ethereum Classic (ETC), is currently trading under $29, with only 600 blocks to go before the snapshot for the Callisto (CLO) airdrop is scheduled to take place.
The current price was not the figure anticipated when the news was initially announced, but a Bitcoin drop, an overall market decline and a last-minute statement from Bittrex, not supporting the airdrop, all affected the price negatively.
In January, the Ethereum Classic development team announced the creation of a new blockchain, the Callisto Network, and an upcoming CLO 1:1 airdrop for ETC holders. While the news saw ETC surge in price from around $40 to $46, that rally was the last we saw in terms of dollar value.
During February, ETC did reach a BTC price high it hadn’t seen in about six months – trading at over 420k Satoshis – however, that didn’t hold for long, and now, after Bittrex pulling out, the ETH/BTC price stands around the 251k Satoshis range.
Over the weekend, Bittrex, which is one of the most popular exchanges, issued a statement saying that it was unable to support the ETC/CLO airdrop, blaming the development team for contacting them last-minute, not giving enough time for a full token review:
“At this time, Bittrex is not supporting the Callisto [CLO] Airdrop to Ethereum Classic [ETC] holders. The CLO development team waited until today to contact us, and it is too late for them to complete our rigorous token review process before the snapshot on March 5, 2018.”
How to get the CLO airdrop?
If you’re holding ETC right now, the blockchain snapshot will be taken at 5500000 blocks and you can claim CLO tokens as long as you control the private keys for your ETC wallet (ClassicEtherWallet, ClassicMask, MyEtherWallet and others).
As for CLO price predictions – there are no reliable numbers to go with and any price you read on the internet is pure speculation. It is however, more realistic to expect a drop in ETC prices after the snapshot block height is reached, which shouldn’t take much longer now.
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