The price of Ethereum Classic jumped 25% after announcing listing on Coinbase

The price of Ethereum Classic jumped 25% after announcing listing on Coinbase

American cryptocurrency exchange Coinbase announced on 11 June that they intend to add Ethereum Classic (ETC) on their platform, after which the price of the cryptocurrency has jumped more than 25 percent.

At 01:14 UTC, ETC traded in the region 12.89 dollar, but an hour later the price increased by 25 percent to 16.15 USD.

Ethereum Classic is the result of hard forks that occurred in 2016, when the developers who opposed changes in Ethereum (ETH), created a new altcon. At the moment it is 18th in size of capitalization, the cryptocurrency. Now it is trading at 15.7 U.S. dollars, and the capitalization equal to 1,56 billion dollars.

Coinbase currently supports 4 cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), ETH and Litecoin (LTC). According to a post in the Coinbase blog, the company will announce the date of listing following completion of the final phase of technical integration, which, according to them, will take a few months:

“We will start work on the 4th stage of the integration of Ethereum Classic. In this process, clients can expect APIs and other indications that an asset is added. When we reach the final phase of testing, technical integration, which we expect will take several months, we will publicly announce the commencement date of trading on our blog and Twitter.

In may, Coinbase announced its intention to support tokens ERC20, but refused at least hint at potential candidates.

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