4 Reasons Why Ethereum Classic Is Soaring

Ethereum Classic price has surged 40% this week on several bullish news stories, according to data from Coin360.

Over the past seven days, ETC price has climbed from around $5.50 to roughly $7.30 by press time.

Yesterday, London-based token investment group North Block Capital also joined the Studio Program of blockchain developers organization Ethereum Classic Labs.

ETC Labs shared the news in the official blog on Aug. 22.

ETC Labs announced the new Studio Program on Aug. 8.

The organization is apparently aiming to support new projects and crowdsales based on the ETC blockchain through this initiative.

Terry Culver, the CEO of Ethereum Classic Labs, remarked that ETC's Core group development team will be supporting North Block Capital, which he regards as a leader in blockchain initiatives.

"North Block Capital has an impressive history of driving innovative projects forward and leading the advancement of blockchain companies We are excited to partner with them and support their projects with our Core dev team and be at the forefront of fostering blockchain companies and technology. It is a great fit for ETC Labs and the Studio program allows us to quickly address the technical needs of their projects."

ETC Labs will reportedly help North Block Capital conduct token sales and marketing initiatives in the Asian market.

The annual Ethereum Classic ETC Summit event is scheduled for Oct. 3-4 in Vancouver, Canad. It is not unusual for cryptocurrencies to rise in price in the run-up to an industry event or conference.