The ethereum classic price rose by more than 20 percent after U.S. cryptocurrency exchange operator Coinbaseannounced that it would begin rolling out ETC support later this year. When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter (Sep 5)'.
Ethereum Classic (ETC) is a hard fork of the Ethereum (ETH) blockchain, which was created as a result of a disagreement within the Ethereum community.
The announcement did not specifically state when ETC would be available on Coinbase-operated platforms, only that it would happen in the "coming months" and would appear in its institutional and professional products before being made available through its retail-focused brokerage service. It also plans to add support for the ERC20 token standard in the future.
Coinbase first tweeted this announcement at 6:48 IST. The decision to add Ethereum Classic was sudden and unexpected by crypto-traders. If sufficient liquidity is established, trading will then be enabled on Pro and Prime.
Coinbase Pro - the Pro team is planning to add trading support for Ethereum Classic. Additionally, Coinbase has credited everyone who had Ethereum balance during the hard fork in 2016 and did not withdraw.
Coinbase Asset Management - any asset listed on Coinbase Markets will be added to Coinbase Index in accordance with the Coinbase Index methodology. Coinbase Index Fund will rebalance to include Ethereum Classic.
Coinbase - Coinbase will list assets only after they are listed on Coinbase Pro and Prime.
At the time of this writing, ETC is trading at $16.05 up roughly 23.84 percent over the last 24 hours - making ETC one of the best performing cryptocurrencies for the day. A further date for formally launching the trading of ethereum classic on Coinbase will be announced on September 5, the company said.
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