Four reasons why Ethereum Classic is flying high this month


Could you argue that August was the month of Ethereum Classic? Probably so. In terms of investment value, Ethereum Classic did not reach extraordinary new levels, but overall this month outlined some very positive changes for Ethereum Classic, changes that will have a huge impact on the value of the currency in the future.

Before the landfill of the mid-August coins that saw its values ​​collapse, Ethereum Classic peaked at over $ 20.00, proving to have the ability to grow, even if the organic downtrend that grips the markets at the moment prevents Ethereum Classic from progressing further. Once the markets resume, however, Ethereum Classic is certain to be able to fly high after this months progression.

What waves did Ethereum Classic do this month?

First of all, Coinbase. Many weeks ago, Coinbase announced that they would have traded Ethereum Classic in their exchange. This was greeted by an animated community, the excitement surrounding the news soon diminished, although it required Coinbase a certain number of weeks to allow the list to go live. This is because the Coinbase team wanted to do it well and then spent a bit of time testing the platform to make sure it could smooth it out smoothly, immediately.

Remember, however, that this is the beginning of a great expansion for Coinbase, because, according to their official blog:

"One of the most common requests we hear from customers is to be able to exchange more resources on Coinbase: Ethereum Classic is only a first step in this direction, and last month we announced that we are exploring a number of other resources to add to the platform – we hear your requests and are working to make more resources available to more customers around the world . "

You can see the complete announcement for yourself, here .

Next up, Robinhood, and another huge list that will see Ethereum Classic become much more accessible on a much larger scale, influencing not only its value but also its market capitalization. Starting on August 6, 2018, Ethereum Classic went live on Robinhood. If you do not know, Robinhood is a free commission trading platform so it offers users the ability to access Ethereum Classic at a reduced price, as they are not taxed through the platform. At present, Ethereum Classic is now available in 19 states in the United States, with others to be added through the Robinhood platform in the coming months.

On August 10th, we reported an enormous revelation that was pointing towards a company called Grayscale Investments, which holds about $ 90 million worth of Ethereum Classic. The important news here is that this is a prime example of institutional investment, the type of investment that will help bring the market back in the future.

"Overall, it is reported that Grayscale handles about $ 1.5 billion in digital assets through their customer portfolio, about $ 1.38 billion of these assets are in Bitcoin, but within There are $ 90 million in Ethereum Classic, making ETC the second cryptocurrency "invested" through grayscale investments.This serves as evidence to show that Ethereum Classic is encouraging investments at the institutional level.This is undoubtedly due to growth sudden sight from Ethereum Classic in the last year and the fact that it still has ties to Ethereum, the cryptocurrency with the highest market capitalization after Bitcoin, of course, because of this, Ethereum Classic is seeing a huge increase in popularity , naturally complimented by a recent increase in value and market capitalization. "

See our complete coverage of this story for yourself, [19659008] here .

And in the end, another huge exchange also made changes to their Ethereum Classic listings this month. Bittrex has recently announced that they will add US dollar trading pairs for both Ethereum Classic and XRP in a move that promotes the international research of Ethereum Classic.

These changes are only small parts of the history of Ethereum Classic. They have not yet had a huge impact, but this is due to the negative climate surrounding the market. Overall, these are good signs of the future progression of Ethereum Classic, an altcoin that is now affecting the headlines and also, has a real chance to become a solid top ten of cryptocurrencies with a very bright future for both traders and for investors.

Will Ethereum Classic see the all-time high of $ 47.70 again soon? I really hope so. Remember, however, that this is not an investment advice, use it as part of your larger research and always make informed trading decisions.

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