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Robinhood Crypto announced on August 6th that Ethereum Classic was now available for investment, without commission, on its platform. The announcement was made via a Tweet on his Twitter account and an official blog post.
Ethereum Classic challenges decline
Ethereum Classic (ETC) has risen by 9% and has moved from rank 12 to 11 as the news has arrived. Most other cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH) and XRP, however, have seen prices fall. Among the top 10 on Coin Market Cap, XRP fell by over 4%, IOTA by almost 13% and Stellar by almost 2%.
The blog post also stated that investors could invest in Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Dogecoin and access market data for another 10 cryptocurrencies. In addition to the six cryptocurrencies offered by the trading exchange, it supports real-time market data for Bitcoin Gold (BTG), Dash (DASH), Lisk (LSK), Monero (XMR), NEO (NEO), OmiseGO (OMG), Qtum (QTUM), Ripple (XRP), Stellar (XLM) and Zcash (ZEC). Currently, the offer is only available in 19 US states, but the company will soon add multi-state support.
The addition of Robinhood Crypto's ETC comes just a day before Coinbase offers commercial support for cryptocurrency. [19659006] "We intend to allow 24-48 hours of transfers via Pro / Prime before opening the markets In accordance with our Trading Rules, all ETC books will be opened in post-only for a minimum of 10 minutes. established sufficient liquidity, trading will be enabled on Pro and Prime, "
announced Coinbase in his blog. He also explained that since ETC will be added to the Coinbase markets, it will be added to the Coinbase index according to the Coinbase index methodology. In the case of Coinbase, ETC will be available wherever Coinbase is available.
Currently, BitMEX, Binance, LiveCoin, Bitfinex, Poloniex and Kraken support ETC / BTC trading. However, Robinhood offers zero-commission transactions, a feature that works for investors. Robinhood's business model is based on the realization of profits deriving from interest on liquid assets and securities held in customer accounts and through the offer of subscriptions to premium accounts such as Robinhood Gold. In addition to crypto, Robinhood also offers traditional investment options such as stocks, options and ETFs. As of May 2018, the number of users in the Robinhood trading app has exceeded 4 million.
ETC's blockchain, is a continuation of the original Ethereum blockchain with an unmodified story. The original Ethereum blockchain has been severely disbanded due to the DAO engraving in 2016. ETC has recently surpassed $ 2.2 billion in circulation. Robinhood and Coinbase news adding cryptocurrency acted as a catalyst for helping ETC to increase significant resistance to $ 19.
Image from Shutterstock
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