Coinbase, Robinhood Adding Ethereum Classic Support
Ahead of Coinbase, Robinhood, a rather popular stock investment and cryptocurrency trading app, manages to add Ethereum Classic (ETC) before Coinbase. Coinbase announced they are conducting final tests and Ethereum Classic will be listed soon.
On August 5th, just yesterday at the time of posting, Ethereum Classic transactions reached upwards of 65,000, the highest this and only 20,000 or so less than last month.
Coinbase, a very popular cryptocurrency trading app for buying the most popular currencies with fiat money, announced on August 3rd that they are close to releasing Ethereum Classic to be available to purchase on their exchange. The initial announcement from Coinbase that they would be adding support for ETC made the currency jump 14%, give or take 1 to 2%. With ETC being released on Coinbase imminent, a reasonable prediction for currency to jump to would be approximately $25, $40 if you want to be bullish about it.
What do you think? Will Ethereum Classic skyrocket to nearly $40, or will it jump all the way to $25 as predicted? Let us know in the comments below!
It appears that the Coinbase listing has made Ethereum Classic bomb. ETC is down by nearly 30% since it’s listing on Cooinbase Pro. Before the listing on August 7th, ETC jumped on two occasions. The first was when Coinbase announced their intentions to list the currency on their platform. ETC’s price went from $12.19 to $16.40 over the following 48 hours, which lead to a staggering 34% gain overnight.
The next and most substantial boost began on August 3rd, following another announcement from Coinbase which stated that ETC trading would go live to be able to be bought and traded on August 7th. From August 3rd to the 7th, the overall price rose more than 50 percent in U.S. dollar terms, hitting a peak of USD$21.25, which is pretty impressive, considering it was just announced and not even released yet.
We’ll keep this article updated and post once Coinbase launches Ethereum Classic for their consumer platform.