Ethereum Classic News And Price Analysis: Few Days to Coinbase Listing; How will it affect ETC Price? Monday, August 6
Important Ethereum Classic News
Few Days to Coinbase listing
Coinbase, which is one of the biggest cryptocurrency exchanges has just announced that they are almost ready to make ETC trading pairs available on the platform. In the announcement blog post they write: "Today, our engineering team is beginning final testing of support for Ethereum Classic (ETC) on Coinbase. We expect final testing to be completed by Tuesday, August 7, at which point we will announce that we’re ready to accept inbound transfers of ETC. We intend to allow 24–48 hours of inbound transfers through Coinbase Pro and Coinbase Prime before enabling trading."
The Coinbase's Ethereum Classic support means that it will be added to the variety of Coinbase products and services like for example Coinbase Custody, which offers secure storages of large amounts of cryptocurrencies. The teams from Coinbase Pro, Prime or Asset Management services take also part in this process will fully support ETC.
It's also worth noting that the users who have stored Ethereum on the platform during the fork period will get their forked Ethereum Classic to their wallets.
Ethereum Classic Development Update
Few days ago, the team have sum up their July's work in a development update blog post. It seems that the project wants to use the current momentum and show that there is a lot of going on there. Three new people joined the team in the Human Resources, Business Development and as a Rust Developer.
The team has also visited Cracow in Poland to discuss decentralized computing solutions and how ETCDEV can contribute in more ways to the Ethereum community.
ETC Price Analysis
Ethereum Classic Gets A Boost As Coinbase Lists Coin
Coinbase announced on Friday that it plans to commence support for Ethereum Classic. The wallet and exchange service which has been criticized for not listing coins after testing has been categorical in its latest release stating that its listing of ETC will take place on Tuesday August 7 as the engineering team concludes tests.
The news of the company’s intention to list Ethereum Classic broke mid June when Coinbase announced that a plan to integrate the coin was at advanced stage. Although no timeline was given, the latest release puts to rest the controversy surrounding the listing.
As expected, the news had a pronounced impact on the price of the currency which rose by 18 percent trading at $16.53. The coin which has a market capitalization of $1 billion experiences a spike in demand with most major exchanges such as OKEx, Binance and Bitfinex showing appreciable hike in trading volume.
The fully working ETC trading pairs on Coinbase may significantly affect the price, making it raise at least temporarily as many new traders will want to benefit from it. The community and some experts expect that it may easily raise to $25, and if the cryptocurrency market manages to stabilize or even start raising again in next days, ETC could go even further. Currently it is trading around $17 and is doing quite well taking into the consideration that most of the cryptocurrencies are falling down, with ETH falling from $470 to little above $400 in a couple of days.
ETC/USD Price Chart, Monday August 6th:
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