Ethereum Classic Jumps 20% on Coinbase News

13 Juin, 2018, 16:01 | Auteur: Auguste Feret
  • NewsCrypto      Coinbase Will Integrate Ethereum Classic Across All of Its Platforms
     
     
       By JP Buntinx

Price of an Ethereum Classic crypto-coin rallied by around 25 percent on the back of a news of its listing on popular cryptocurrency exchange Coinbase. "We are announcing this both internally and to the public consistent with our process for adding new assets".

The reason, probably known to anyone who reads this, they've been selected as the next coin to be added to Coinbase exchange.

This day started with a bang for Ethereum Classic and it reflected on the price as well - 25% up in a day.

Ethereum Classic will first be listed on Coinbase Markets, Coinbase Pro, and Prime, after which Coinbase may add support. Support for Ethereum was added on Coinbase after the hard fork and only exchange users with Ethereum balances were eligible for ETC withdrawals.

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The announcement also made a huge impact in the market as Ethereum Classic bounced more than 20 percent in last 24 hours. It is now Ethereum Classic's turn but without any Main Net reasoning.

Moreover, once the Ethereum Classic listing goes live on Coinbase, we can expect to see the trading volume and market cap of Ethereum Classic increase drastically, pulling its value up with it too.

According to their announcement, Ethereum Classic [ETC} will be available to trade against Binance token [BNB] and Tether [USDT] as separate pairs from today i.e. 12th of May 2.30 AM [UTC]. After evaluating factors such as liquidity, price stability, and other market health metrics, Coinbase may choose to add Ethereum Classic to the Coinbase platform. "In fact, Ethereum is a so-called hard fork of Ethereum Classic; it was created in July 2016 and the two projects share their blockchain history up until that point, though Ethereum got to keep the original name." . It is now the 18th most valuable digital currency and its market cap of approximately $1.5 billion is dwarfed by that of Ethereum ($53.3 billion) and of Bitcoin ($117.8 billion). The coin is trading for $15.25, based on an average from a large number of exchanges, with a total cap of almost $1.6 billion. Ranking at the 16th position, BNB is now trading at $16.03 with a market cap of $1.82 billion. The team of ETC has also come up with a roadmap.

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