Ethereum Classic is on the road to triple the figures, so if you're thinking of selling out, do not do it. Ethereum Classic has proven to be a rather strong cryptocurrency over the months. The price spike in the wake of the announcement of the Coinbase listing has helped reassure the Ethereum Classic community that the cryptocurrency is worthy of consideration. As Coinbase announced it would list Ethereum Classic (ETC), it was an unprecedented positive sentiment in the price and volume of ETCs.
Why did the announcement of Coinbase increase the price of Ethereum Classic (ETC)?
Ethereum Classic one of the few cryptocurrencies that have been bullish on the weekly chart. Before now, Coinbase did not announce the listing of a currency until a day before. This time, he announced that he would list Ethereum Classic (ETC) months before the date. This is a turning point that has given investors the opportunity to buy and keep up before prices soar due to the influence of Coinbase.
Price Ethereum Classic (ETC) today / USD
Some investors are buying now so they can sell later after the listing. While some others have anticipated the move and purchased even before the announcement of the listing. After the listing, the price of Ethereum Classic will skyrocket. This is not a surprise since many analysts have already put Ethereum Classic at the $ 100 level during the forecast. Tom Lee of Fundstrat said that Ethereum Classic will sell up to $ 70 or more before the end of the year.
That anyone who likes to admit it or not, Coinbase has a significant influence on the cryptocurrency market. When a cryptocurrency is listed on Coinbase, it has the potential to increase because it is likely that Coinbase users will buy it. Furthermore, an economic cryptocurrency with potential is always a good choice for investors. This is why the prices of BCH and LTC have skyrocketed after being listed on Coinbase.
For Ethereum Classic, the increase will be exceptional because it is not an Ethereum fork, but a platform for smart contracts that works on the original Ethereum chain. Ethereum Classic will grow a lot in the coming months and will end up in the $ 100 + level by the end of the year. This is according to the writer of cryptocurrency, Fakhan of CryptoDaily.
Ethereum Classic (ETC) is listed on the CoinBase portfolio
Ethereum Classic has obtained another mark of approval from CoinBase. According to the announcement made on the official website of CoinBase, the provision of ETCs in the CoinBase Portfolio is now available. In the coming days, the CoinBase app will update itself and users will be able to send and receive ETCs through it. Existing users will not need to have a separate address. They can use what they already have to make ETC transactions.
In addition to ETCs, CoinBase Wallet offers sending, archiving and receiving options for Ethereum and many ERC20 tokens.
Ethereum Classic seems to receive many stamps of approval from large companies in the industry. In August, Bittrex activated the USD-ETC trading pair on its market. This was the same time that Robinhood announced that it now supports ETC.
Ethereum Classic ETC Gets the double increment of the figure
Meanwhile, the announcement seems to have given Ethereum Classic a much needed impulse of value. Against the USD, the ETC has suffered a drastic drop in the last few months. This is not a surprise since even Bitcoin, Ethereum and virtually all cryptocurrencies have suffered.
Today, however, all the major cryptocurrencies are traded in green against the dollar. While some are registering single-digit earnings, others like Ethereum Classic record double-digit earnings.