The first time the cryptocurrency universe heard that Ethereum Classic was to be listed on Coinbase, the price of the ETC token surged confirming what everyone already knows: Coinbase has a strong influence on cryptocurrencies. Even with the bearish wave in the market, Ethereum Classic (ETC) price appreciated and analysts believe that the upcoming Coinbase listing may be keeping the cryptocurrency strong.
Ethereum Classic (ETC) Price Hikes After Listing Confirmation From Coinbase
The first half of 2018 has been a bumpy ride for cryptocurrencies. Gaining seems challenging and holding on to gains is equally as challenging. Yesterday, the price of Bitcoin and Ethereum started a downward correction. As expected, most coins followed. Ethereum Classic, however, was trading in green gaining 3.89% within a 24-hour window taking the price back to $18.15 according to data from CoinMarketCap.
Ethereum Classic (ETC) Price Today / USD
The coin’s excellent performance proves that Coinbase has a strong influence on cryptocurrencies. While Coinbase did not give a specific date for listing Ethereum, it confirmed that the cryptocurrency will be added soon. The rumor in the industry is that the listing will be done this month. The original confirmation was posted on the Coinbase official handle on June 12 2018:
“We are happy to announce that we intend to support Ethereum Classic (ETC) on Coinbase in the months to come.”
The news caused a wave on social networks from fans and skeptics alike. Ethereum Classic community members were happy about the move but critics believed that it wasn’t necessary. Like with many other cryptocurrencies and popular exchanges, the news caused a spike in Ethereum Classic (ETC) price. It has been predicted that when the listing finally occurs, it will boost the mainstream adoption of Ethereum Classic and invite institutional investors as well.
The chances of Ethereum Classic gaining popularity and value is high, but always remember to trade with caution. The cryptocurrency market is volatile and speculative. The last thing you want to do is invest your life savings in a cryptocurrency. While there are high chances of gaining, there is also a high chance of losing.