Published: Wed, June 13, 2018
Business | By Kate Woods

Coinbase to add support for Ethereum Classic (ETC)

Coinbase to add support for Ethereum Classic (ETC)

Coinbase, the United States' largest cryptocurrency exchange and wallet platform, has announced its intention to add Ethereum Classic on its trading platform.

The company said that once it has reached the final testing phase for integrating the cryptocurrency, it will announce a concrete launch date. Whilst Ethereum Classic has not gone live on the listing just yet, Coinbase have confirmed that it's availability will become clear over the next few months, essentially, both Coinbase and Ethereum Classic are taking their time with this to ensure the roll out is seamless. After evaluating factors such as liquidity, price stability, and other market health metrics, we may choose to add Ethereum Classic to the Coinbase platform. Per the process of adding new coins to the exchange, the Coinbase team will now begin the engineering work required for supporting Ethereum Classic. Additionally, Coinbase has credited everyone who had Ethereum balance during the hard fork in 2016 and did not withdraw.

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Ethereum Classic is a digital currency that is the result of a hard fork in the ethereum blockchain. Ethereum Classic is the cryptocurrency that was the result of a hard fork of the Ethereum network in July 2016. 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). It is now the only currency with a double-digit gain in the top 50 or nearly the entire market.

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.

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"Ethereum Classic $ETC up 25% following @coinbase announcement". "Ethereum Classic chose not to change its blockchain history, and while it claims it wants to preserve Ethereum's original vision, Ethereum turned out to be far more popular, with thousands of decentralized apps and initial coin offerings (ICOs) being run on the platform." .

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