CoinBase is one of the most popular brands in the cryptocurrency industry. The company is involved in all things crypto. From trading to wallet provision, CoinBase is one of the most reliable players in the industry. This is why cryptocurrencies associated with CoinBase are always considered as strong projects.
Earlier in the year, CoinBase announced that it would be listing Ethereum Classic (ETC) on its trading exchange. Right after the announcement was made, the price of the coin increased significantly. However, when the listing finally occurred, the bearish pressure in that market was too strong for the good news to cause any significant price boost. Following the listing, ETC was incorporated into the CoinBase Index Fund.
Ethereum Classic (ETC) Gets Listed On CoinBase Wallet
Ethereum Classic has gotten another stamp of approval from CoinBase. According to the announcement made on the CoinBase official website, there is now provision for ETC in the CoinBase Wallet. Within the next few days, the CoinBase app will update and users will be able to send and receive ETC through it. Already existing users will not need to have a separate address. They can use the one they already have to make ETC transactions.
Apart from ETC, CoinBase Wallet offers sending, storing and receiving options for Ethereum and a lot of ERC20 tokens.
Ethereum Classic seems to be getting a lot of approval stamps from big companies in the industry. In August, Bittrex enabled USD-ETC trading pair on its exchange. This was around the same period Robinhood announced that it now supports ETC.
Ethereum Classic ETC Gets Double Digit Boost
Main while, the announcement seems to have given Ethereum Classic a much needed boost in value. Against the USD, ETC has been falling dramatically over the last few months. This isn’t a surprise since Bitcoin, Ethereum and virtually all cryptocurrencies have been suffering as well.
Today, however, all top cryptocurrencies are trading in green against the USD. While some are recording single digit gains, some others like Ethereum Classic are recording double digit gains. At the time of writing, the 17th largest cryptocurrency per market capitalization was trading at $4.77. This shows that it is up by 11.21% against the USD. Against Bitcoin, it is up by 2.44%. The 24 hour trading volume is $177,181,877 and the market capitalization is $507,208,868.
If Ethereum Classic is able to break the resistance at $5.00, it may pave the way for more gains above $6.00. However, the market is currently fragile so it is difficult to predict what the next few days of trading will bring. It would not be surprising if all the cryptocurrencies suddenly go back to trading in red after 24 hours.