Ethereum Classic price has nearly doubled days after Digital Currency Group's $50M bet

(ETC) reached its highest level in almost three weeks Wednesday, buoyed by Barry Silbert-backed Digital Currency Group's $50 million investment and by an overall cryptocurrency market recovery led by (BTC).

The 17th-largest cryptocurrency by market value traded as high as $63.19 — a nearly 98% rise from its June 22 low of $31.91. Meanwhile, the market value of all the Classic tokens in circulation crossed $7.53 billion.

Grayscale ETC holdings . Source: Bybt.com
Bitcoin has been trading between $30K and $40K since May 19. Source: TradingView.com
ETC price was approaching $16.62 following its strong breakdown from the previous triangle range. Source: TradingView.com
hints falling wedge breakout. Source: TradingView.com