Ethereum Classic Jumps 25% After Ad Adding On Coinbase
Ethereum Classic, a cryptocurrency that splintered off the original Ethereum blockchain in July 2016, rallied 25% on Tuesday night following news of its addition to the US exchange Coinbase.
In her blog, Coinbase wrote that it is starting to do the preparatory work for integrating Ethereum Classic into its platform. The official start date for ETC trading will be announced on September 5, the company said..
Ethereum Classic started to rally around 04:18 UTC on Tuesday, according to TradingView, along with the original posting. The price went up from $ 12.88 to $ 16.15, thus increasing by 25% in just half an hour.
Coinbase confirmed in March that it has no plans to add new assets after posting a similar message in January. “The Internal Asset Selection Committee is conducting the appraisal in accordance with the digital asset framework, but none of the assets have been recommended to Coinbase management,” the company said earlier. This time, she did not explain what has changed over the past 3 months and made her decide to add ETC.
The company also announced that it is not abandoning its intention to add ERC20 token pairs and bitcoin forks in the future. Among other things, Coinbase is exploring opportunities for integrating new technologies, including atomic swaps, sharding, and more..
Ethereum Classic support will be added not only to the main marketplace for buying cryptocurrencies, but also to other services, including Coinbase Custody, designed to safely store digital assets, as well as the Coinbase Index Fund, made up of all cryptocurrencies traded on Coinbase.
Users who were holding Ethereum on Coinbase at the time of the fork in 2016 and did not withdraw their ETC until January 2017 will be able to do so after adding cryptocurrency support.
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