Ethereum Classic [ETC] sees an increase in the volume of transactions after the announcement of Coinbase

On 5 August, the transactions of Ethereum Classic [ETC] touched figures of 65,560, the highest seen this month. The cryptocurrency community assumes that the surge is due to the August 3 announcement of Coinbase being in the final phase of the Ethereum Classic test. Soon after, it is said that the cryptocurrency is added to the exchange platform.

The highest increase in the volume of daily transactions of Ethereum Classic occurred on 5 March, with the volume of transactions reaching 101.933. It is said that the peak occurred due to the ETC – Callisto. The second highest volume of daily transactions took place on July 29th. Transactions during this period increased to 85, 587.

The daily volume of transactions between 1 March 2018 and 5 August 2018 | BitInfoCharts

There were rumors about the listing of ETC several days before the official announcement of Coinbase. Earlier in June, TechCruch had reported their conjectures about it.

Ethereum Classic on their official Twitter said:

"Kill him with the volume of transactions".

The announcement on the ETC support on Coinbase has also led to a hike in the price of cryptocurrency. ETC jumped to 14.03%, trading at $ 16.57 with a market capitalization of around $ 1.7 billion within 24 hours of the announcement.

Twitterati, Ttomlliwynnad commented:

"Slow and stable adoption of IoT at m2m and 2019 5g networks together with an incubator program, solid support that includes teams of incredibly financial developers, an upward trend in product awareness confirmed by Google Analytics, construction team, oh and Coinbase … .. I know where my long wait is. "

Jaiveer_katiyar, another Twitterati added:

" Wait for the exchange with Coinbase ETC will hit 25 $ that day."

The coin recently celebrated its 2nd anniversary from its hard fork on July 21, 2016. Recent updates from the Ethereum Classic team have outlined two ongoing projects – The Emerald-Js project and the classic Geth project.

ETC Price Table || Source: CoinMarketCap

At press time, ETC trades at $ 17.78 with a market capitalization of $ 1.8 billion. The currency has increased 3.5% in the last 24 hours.

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Shahrain KM is a writer at AMB Crypto. Her curiosity for the technology Blockchain and Cryptocurrencies has led her to become part of AMB Crypto's news reporting team. It currently has no value in any cryptocurrency.