Ethereum Classic (ETC) now has a market capitalization of US$1.7 billion, making it the 15th largest cryptocurrency. Trading volume recently hit record highs of US$1 billion in a 24 hour period, exceeding even Ethereum (ETH) on that day. Trading volume puts ETC in the top five most traded cryptocurrencies. The coin is up 979% from January 1st this year.ETC was born out of a questionably contentious hard fork following the Decentralized Autonomous Organization (DAO) hack. The DAO which was originally established as a venture capital fund, launched with a crowdsale in April 2016. As of May 2016, the fund held ~14% of all ETH issued at the time, roughly ~US$150 million, from 11,000 investors.