The Ethereum Classic cryptocurrency has moved past the market in the last few hours when it rose by a further 15% in addition to the 20% gains on Wednesday and is now trading around $ 13.80 on Bitfinex .
growing earnings follow the announcement of the cryptographic giant Coinbase, posted on Twitter, which indicates that ETC would be available for purchase and trading on that platform starting at 17:00 PST on Thursday (later today).
Starting at 5:00 PM tomorrow, Coinbase Consumer customers will be able to purchase, sell, store and use Ethereum Classic (ETC) on https://t.co/pl8Hu0qDiW and through the app mobile. pic.twitter.com/Qd7KgYpE0y
– Coinbase (@coinbase) 15 August 2018
Ethereum Classic was at most two months of $ 18.50 at the beginning of this month, at the same level reached on July 7, when the announcement of Coinbase made further rounds. The listing on Robinhood also had an effect on increasing the price of ETCs.
Ethereum Classic also jumped in prices before it was said that it would be listed on Coinbase. This happened a few weeks ago, when on June 21, Coinbase announced that they would soon quote the currency and that it triggered a frenzy of purchases that saw the price skyrocket. In fact, for the entire half of June, the price of ETC fluctuated from a maximum of about $ 19.8 to about $ 17. However, it was still a victim of the recent crash crypto and had fallen to a low of $ 2018. 11 only recently a few days ago.
A look at the price movements of ETC this year could also be relevant.
The historical record of Ethereum Classic is currently $ 45.51. Other peaks include $ 42.38 registered at the end of February and $ 24.7 registered at the beginning of May.
Before reaching the all-time high of $ 45.51, Ethereum Classic rose from $ 26.99, an increase of 68%. Similarly, before touching $ 42.38, Ethereum Classic rose from $ 25.92, an increase of 63%. Finally, in May, before touching $ 24.70, Ethereum Classic rose from $ 16.15, an increase of 52%. On average, this is a 61% increase for Ethereum Classic.
However, caution should also be made in making predictions that the price of Ethereum Classic will continue to rise as, as often happens in these situations, a massive landfill will probably occur after the actual Coinbase list. Investors usually unload their coins en masse, thus creating a drop in prices with traders who then enter to restart the currency at a much lower price than it was before the original announcement. The price should eventually rise to pre-quotation levels, as liquidity and demand will eventually stabilize.
Close-up image of Shutterstock. TradingView Charts.
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