Ethereum Classic Price Soars 20 Percent after Coinbase Teases ETC Listing

Ethereum Classic Price Soars 20 Percent after Coinbase Teases ETC Listing

It is not a surprise to see a cryptocurrency's price shoot up when one of the exchange adds a trading pair or lists the coin itself on its platform.

Ethereum Classic was created as the result of a hard fork in ethereum following a June 2016 hack in a smart complex system called the Decentralized Autonomous Organization.

The U.S. exchange announced on Tuesday morning in a blog post that it is now starting the engineering work to integrate ethereum classic with its platform. It also plans to add support for the ERC20 token standard in the future.

Despite its relatively low market cap compared to other assets on the platform, ethereum classic is a logical choice since Coinbase is already holding ETC for many of its customers as a byproduct of the Ethereum network split that divided the blockchain into ETH and ETC.

Not to forget, the Binance Coin [BNB] which was added against ETC on Binance today has seen an increment of 10.87% since the past 24 hours. If sufficient liquidity is established, trading will then be enabled on Pro and Prime.

Currently, Coinbase supports bitcoin, litecoin, bitcoin cash, and ethereum. Additionally, Coinbase has credited everyone who had Ethereum balance during the hard fork in 2016 and did not withdraw.

Coinbase - Coinbase will list assets only after they are listed on Coinbase Pro and Prime.

Coinbase Asset Management - any asset listed on Coinbase Markets will be added to Coinbase Index in accordance with the Coinbase Index methodology.

"Ethereum Classic $ETC up 25% following @coinbase announcement".

The suite of Coinbase which will first list ETC are those aimed towards institutional investors and serious traders. The team wanted to reemphasize that Coinbase Markets, Coinbase Pro, and Coinbase Prime will likely have more assets listed on the platform than the Coinbase platform, i.e. listing on Coinbase Markets does not guarantee to list on Coinbase.

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