Ethereum Classic recently had it’s hard fork which might not have got the limelight, but now with the announcement of Coinbase to list ETC in coming months, its prices jumped high. Also, Binance added new trading pairs that will provide more liquidity to ETC, but will this bull run continue or is it just a one-time fame?
Coinbase to list ETC
Ethereum Classic has secured an amazing listing as Coinbase announced that it will be soon listing ETC on its trading platform. The official announcement that reads, “We are pleased to announce our intention to add support for Ethereum Classic (ETC) to Coinbase in the coming months” has the ETC hodlers in elation.
Over the next few months, the team will begin the engineering work for the support. Also, after evaluating several factors like price stability, liquidity among other “market health metrics”, the blog specifies, they “may choose to add Ethereum Classic to the Coinbase platform.”
The news got mixed reactions from the market, Ripple fans were surely disappointed as it is yet to be added on Coinbase, while others didn’t support the listing at all. People bombarded the Twitter with comments like,
“Inexplicable choice indeed. It’s pretty much the most dead project in crypto”,
“Because Coinbase has BAGSSSSS of ETC after the fork. Free money for them”,
“And that’s why it was picked… it’s the biggest Ethereum fork. Of course it was going to end up on Coinbase”.
Binance adds ETC/BNB, ETC/USDT pair, ETC price pumped
However, this was not the only good news for Ethereum Classic as Binance also announced new trading pairs for ETC. The official announcement by Binance stated,
“Binance will open trading for ETC/BNB and ETC/USDT trading pairs at 2018/06/12 2:30 AM (UTC).”
These new trading pairs will add more liquidity to ETC which will be available for trading from today.
The Coinbase listing might take months to realize, however, ETC price has surely got pumped. After the weekend’s severe price crash that was followed into Monday, the crypto market again saw a rise in prices today.
However, nothing can beat the price pump in ETC. At the time of writing, ETC price was riding over $16 with a rise of 24 percent. This has ETC lead the crypto market with the highest gains.
But, it can be expected of ETC market to correct as the excitement of the news wears off.
ETC currently ranks at 18th position, with a market cap of about $1.5 billion. In the last 24 hours, it registered the trading volume of $494 million. ETC is also up by about 20 percent against BTC.
Do you think ETC price will be seeing a new high or will this momentum soon wear off? Share your thoughts with us!
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Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.