Today, the cost of Ethereum Classic exceeded the $20 mark for the first time in three months. The intraday maximum was $20.58. Due to this, altcoin broke into the top-10 crypto by capitalization but failed to gain a foothold, dropping to the 11th position.
The growth of the coin value, which is conditioned solely by external factors, rather than by a fundamental change in the supply & demand ratio, may appear as a sign of short-termism just like what happened with Ethereum Classic earlier on June 12. Back then its price skyrocketed from $12 to $16 for a single coin, but just 2 days later dropped back to $13.