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Benzinga
Benzinga
Business
Melanie Schaffer

Ethereum Classic Shows Strength Compared To Bitcoin, Ethereum: Here's What May Lead To A Liftoff

Ethereum Classic (CRYPTO: ETC) was outperforming the apex cryptocurrencies on Tuesday, flying up 8.38% higher at one point, compared to Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were trading up about 3.6% and 3.5%, respectively, when they reached their high-of-day.

The cryptocurrency sector as a whole detached from the general markets on Tuesday, rising up higher in contrast to the SPDR S&P 500 (NYSE:SPY) which was falling over 1.5%. The crypto sector had been trading in tandem with the general markets recently, reacting bearishly to a noticeably more hawkish tone coming from the Federal Reserve as it attempts to combat rising inflation.

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