Ethereum Classic Jumps 20% on Coinbase News

Lloyd Doyle
June 12, 2018

"We are announcing this both internally and to the public consistent with our process for adding new assets". As part of this process, customers can expect to see public-facing APIs and other signs that the asset is being added.

Data from CoinMarketCap shows that the price of ethereum classic started to jump around 01:30 UTC on Tuesday, after Coinbase first tweeted out the announcement at 01:18. Support for Ethereum was added on Coinbase after the hard fork and only exchange users with Ethereum balances were eligible for ETC withdrawals.

The second boost to Ethereum Classic today is the addition of Trading pairs on the world's largest crypto exchange platform - Binance.

With the upcoming listing, Ethereum Classic will become the fifth cryptocurrency listed on the platform after Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

"#Binance Adds #ETC/BNB and $ETC/USDT Trading Pairs". A further date for formally launching the trading of ethereum classic on Coinbase will be announced on September 5, the company said. ETC ultimately settled down a bit, and at the time of writing, it was trading at $15.36, representing a single-day increase of almost 21 percent.

Ethereum Classic was created as the result of a hard fork in ethereum following a June 2016 hack in a smart complex system called the Decentralized Autonomous Organization.

At the time of this writing, ETC is trading at $16.05 up roughly 23.84 percent over the last 24 hours - making ETC one of the best performing cryptocurrencies for the day. 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). Considering the markets recent bearish performance, where most of the coins are bleeding, this is a huge achievement for Ethereum Classic. So far things are all on the brighter side for this currency when the entire market is thriving to stabilize itself.

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