# Ethereum Classic (ETC): From Ethereum’s Fork to a 90%+ Value Loss ## What Is Ethereum Classic? ETC emerged in 2016 after The DAO was hacked,putting about 3.6 million ETH under the attacker’s control. Most backed a hard fork to reverse the attack and recover the funds. Those opposing changes to blockchain history stayed on the old chain,which became **Ethereum Classic**. The new chain continued as Ethereum. ## The “Code Is Law” Philosophy ETC was built around “Code Is Law”: blockchain transactions should remain immutable. The DAO attack became a philosophical debate over blockchain principles. ## How Did ETC’s Price Explode? During the 2021 bull market, ETC rose from about 5 $ to above 170 $ in May—a gain of more than **3,000%**. Its market cap reached billions of dollars. ## Ethereum’s Merge Put ETC Back in the Spotlight Ethereum’s 2022 shift to Proof-of-Stake ended Ethereum mining and raised expectations that miners would move to alternative PoW networks. ETC rallied on these expectations, but lasting growth did not materialize. ## Major Security Problems ETC suffered a major 51% attack in 2019 and multiple attacks in 2020. ## Why Did ETC Fall Behind Ethereum? Ethereum grew into a massive ecosystem spanning DeFi, NFTs,stablecoins, Layer-2 networks and smart contracts, while ETC remained smaller. The gap in developers, users and use cases widened. ## A Major Disappointment for Investors After rising above 170 $ in 2021, ETC fell more than 90% from its peak,causing major losses for investors who bought near the top. ## Is Ethereum Classic Completely Finished? No. ETC remains active,retains Proof-of-Work and supports smart contracts. ## Conclusion Ethereum Classic began as Ethereum’s old chain after the DAO-related ideological split. It surged above 170 $ in 2021,but the rally proved temporary. Today, $ETC remains alive, yet the gap with Ethereum has grown. **Will Ethereum Classic continue to lag behind Ethereum in the technology race?** $ETH