Ethereum Classic News and Price Analysis: Coinbase Support of Ethereum Classic Takes Effect.
Important Ethereum Classic Cryptocurrency News
Coinbase Support of Ethereum Classic Takes Effect
Coinbase has added Ethereum Classic as one of the coins it supports. Although the support was announced in July, the company took time in the implementation following criticism of insider trading it faced after its addition of Bitcoin Cash. The company also announced that it will introduce five more digital currencies soon.
Dan Romero, is the head of Coinbase’s consumer business, said in a blog post “We hear your requests, and are working hard to make more assets available to more customers around the world.
Coinbase has been known to add a coin in a year but the company seems to have changes that policy lately with its recent announcement that it plans the addition of coins such as ADA, BAT and ZRX. Coinbase Custody, the institutional arm of the company is eying dozens of coins for possible support.
Ethereum Classic Leaps By 15 Percent As Coinbase Launches
Ethereum Classic experienced a price spike with the launch of the pro trading option by Coinbase. ETC jumped two digits following the anticipated action of the platform trading at $14, 15 percent increase.
The cryptocurrency is the biggest gainer among some of the top 20 coins as a result of the news according to data from Coinmarketcap, although this is not the first time the ETC is experiencing spike due to news associated with Coinbase support.
An earlier announcement spurred a buying frenzy that saw Ethereum Classic rise to $21.25 but the value later plunged to $10 by August 14 falling by 50 percent according to data from Bitfinex.
With the recent increase, Ethereum Classic has gained 36 percent from its last low due to the market slump. Its peculiar circumstance is the result of selloffs as usually happens when investors see appreciation of an undervalued token as an opportunity to make gains.
ETC/USD Price, Saturday August 18th:
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