Coinbase Adding Support for Ethereum Classic 'In The Coming Months'

Cornelia Mascio
Giugno 13, 2018

Coinbase is one of the largest cryptocurrency exchanges in the world, so when it announces plans to support a new player the news is bound to have a major impact on the market. "We are announcing this both internally and to the public consistent with our process for adding new assets".

As it stands, Coinbase only list Bitcoin, Bitcoin Cash, Litecoin and Ethereum, making Ethereum Classic the fifth to be added to the growing Coinbase portfolio.

Nevertheless, the ethereum classic price soared in the immediate aftermath of the announcement, leaping from $12.81 to $16.40 in less than an hour.

They plan to offer ETC support in all geographies where the asset is compliant with local law and what this means for their list of products is clearly explained on their official website blog post. Whilst Ethereum Classic has not gone live on the listing just yet, Coinbase have confirmed that it's availability will become clear over the next few months, essentially, both Coinbase and Ethereum Classic are taking their time with this to ensure the roll out is seamless.

Coinbase Pro - the Pro team is planning to add trading support for Ethereum Classic.

"This will undoubtedly bring a new level of visibility to Ethereum Classic, which is a decentralized smart contract platform similar to Ethereum".

Once the "market reaches sufficient liquidity, we will then enable trading", Coinbase said. 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. 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).

"Ethereum Classic is a cryptocurrency that was the result of a hard fork of the Ethereum network in July 2016" is correct, but written in a way that will confuse people into thinking ETC is a fork."
Considering the markets recent bearish performance, where most of the coins are bleeding, this is a huge achievement for Ethereum Classic.

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