Coinbase To Add Ethereum Classic, ETC Pumps 25% After Announcement
Coinbase arguably the biggest exchange in the US with over 20 Million users has announced that Ethereum Classic will be the next Cryptocurrency that will be added to the exchange in the coming months.
There had been a lot of rumors of Coinbase adding XRP or 0X to their exchange ever since they had announced that they will be adding more assets on their exchange. But it turns out that Ethereum Classic, which is the 18th largest Cryptocurrency by market cap.
Ethereum Classic was the result of a hard fork in 2016 after the DAO hack. There was a difference of opinion in the community which resulted in the fork, the current day Ethereum is the fork and Ethereum Classic is the original chain. You can read the whole story here.
Ethereum Classic will be a part of various Coinbase products like Coinbase custody, Coinbase markets, Coinbase Pro, Coinbase Prime, etc. It is important to note that for those who held Ethereum back in 2016 before the hard fork and did not elect to withdraw their funds prior to 2017 January will be credited Ethereum Classic.
ETC pumped more than 25% after the announcement before which there was a slight dip in the price. It is currently valued at $16.21 with a market cap of $1.6 Billion
Brian Armstrong CEO of Coinbase Tweeted:
Excited to continue adding new assets to Coinbase! https://t.co/k3RY8Q5i7M
— Brian Armstrong (@brian_armstrong) June 12, 2018
CNBC Fast Money Tweeted:
— CNBC's Fast Money (@CNBCFastMoney) June 12, 2018
Binance also added ETC/BNB and ETC/USDT pairs recently.
— Binance (@binance) June 12, 2018
Image Source: Flickr
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