Coinbase announces the addition of ETC (Ethereum classic) to its trading platform

The US cryptocurrency Coinbase suddenly announced June 11, that she would add the Ethereum Classic (ETC)on its trading platform. Following this statement, the price of cryptocurrency jumped 25%.

Coinbase supports the Ethereum Classic

The Ethereum Classic results from a hardfork triggered in June 2016, when developers who opposed the changes within the Ethereum network created the altcoin. At the time of writing this report, the ETC is the 18th largest cryptocurrency in terms of market capitalization. Its price is around $ 13.29, down 24 hours with a market capitalization of $ 1.36 billion, according to data from Coinmarketcap.

The ETC is added to the list of digital currencies supported by the trading platform, according to a statement last Monday. The news arrives very early, even before the integration process has begun.

Coinbase currently offers 4 cryptocurrencies including Bitcoin (BTC), Cash (BCH), Ethereum (ETH) and Litcoin (LTC). Once the technical implementation is complete, the platform will announce the availability of the Ethereum Classic. However, it takes several months after the blog Coinbase reading as follows:

"We are now going to start the engineering work (step 4) to support the Ethereum Classic. As part of this process, customers can expect to see public APIs and other signs that the asset is being added. When we reach the last test phase of the technical integration, which should take place over the next few months, we will publicly announce a launch date for trading via our blog and Twitter (step 5). "

ETC won a substantial audience

The news has also had a considerable impact on the market. The Ethereum Classic price jumped more than 20% in the 24 hours following the statement. Its value has experienced a strong uptrend of up to 25% just 30 minutes after the announcement. The rise is even more impressive knowing that most crypto-currencies are in the red lately.

The community of virtual currencies has responded positively to the news, which has not been the case for the management of Bitcoin Cash . Coinbase was the victim of several insider trading charges as the price of the BCH had increased suspiciously before the public announcement of the crypto-stock exchange in December 2017.

Nevertheless, this is not the only exchange platform to integrate the ETC. Binance announced support for ETC / BNB trading pairs (Binance Coin) and ETC / USDT (Tether) on Monday, June 11th.

What do you think of Coinbase adding the Ethereum Classic to its platform? Let us know in the comments section below.