Aftermath of Coinbase’s Announcement to List Ethereum Classic (ETC)
Coinbase’s decision to list Ethereum Classic (ETC) may be a surprise hit, however ETC has been growing quite steadily, gaining more adoption and listings. Last week, the multi-coin wallet, CoinPayments announced support for Ethereum Classic (ETC) payment processing, merchants can now buy and receive payments with ETC.
Price and Market Performance of ETC
The crypto market has seemed to settle below $300 billion, as the turbulent run continues. However, Ethereum Classic (ETC) and a couple of other digital assets are pulling back strong gains. Ethereum Classic opened the week rather slowly, but the gains are beginning to surface.
The crypto space was hit with a wave of surprise on Tuesday as US Based digital exchange platform Coinbase announced its plan to list Ethereum classic (ETC). The news saw ETC hike by over 25% under a day. The trade – exchange volume of the asset also took an exponential leap.
The announcement made such a huge impact on the asset as Ethereum Classic will be joining the four coins listed on Coinbase in the coming months. The price pump that came with the Coinbase announcement has begun to flatten out, although ETC remains in the green. As at the time of this writing, Ethereum Classic (ETC) is up and is now trading at $13.69.
Still in the green, the 24 hours trade volume of Ethereum Classic (ETC) is estimated at $281 million USD. Regardless of the drop in the daily trade volume, Ethereum classic still has remains the 18th largest cryptocurrency with an estimated market capitalization of $1.4 billion USD.
Ethereum Classic Updates Platform
Ethereum Classic’s platform may be miles apart from its mother chain Ethereum, however, Ethereum Classic is gradually working its way into mass adoption. Ethereum Classic has once again released an update to its game platform. The new ETCgame interface is more appealing than the former.
Ethereum classic’s game interface is the only mainstream crypto prediction market. The new interface features a new platform for placing bets for the much awaited World Cup. On the ETCgame platform, you can also predict the daily rise or fall of certain cryptocurrency listed on the site to win big.
Growing the Ethereum Classic’s Ecosystem
Since its launch, Ethereum classic has focused more on developing startups and actual tech over ICO’s. The Ethereum Classic Labs just like Litecoin has started a full range funding project for growing startups, and projects on the Ethereum classic blockchain.
The startup funds provided by Ethereum classic labs will cover technical guidance, operational funds, office space, industrial resources, creative strategy consulting and much more. Details on how to register for the Ethereum classic can be found here.
Future of Ethereum Classic (ETC)
Ethereum Classic (ETC) may be growing rather slowly in comparison to its mother chain Ethereum, but that does not dispute the fact that Ethereum classic is one of the fast developing blockchain projects around its niche. Ethereum classic is working to implement Sidechains on their network, as it works towards mass adoption.