Ethereum Classic price analysis: ETC\USD defies gravity as Coinbases promises to launch ETC trading in coming monthssteemCreated with Sketch.

in #etc • 6 years ago


  • Coinbase extends the list of tradable instruments with Ethereum Classic.
  • ETC/USD experiences strong recovery amid otherwise quiet market.

Coinbase  is among the most popular cryptocurrency exchanges, an ultimate goal  for many coins. Currently, it supports only four coins (Bitcoin, Bitcoin  Cash, Litecoin, and Ethereum). Recently, the company announced its  plans to expand the list of tradable instruments with Bitcoin forks and ERC20 tokens, with Ethereum Classic is an obvious candidate for that. Ethereum  Classic was born through a hard fork initiated on Ethereum blockchain  following DAO attack. Actually, Ethereum (ETH) is the forked  cryptocurrency, but it gained more support, thus, it took the original  name and symbol, while the supporters of the initial protocol had to  rebrand their coin into Ethereum Classic (ETC). Now ETC takes the 18th  place in the ranking of global cryptocurrencies with market  capitalization $1.5B and daily trading volume about $380M. 

"We  are pleased to announce our intention to add support for Ethereum  Classic (ETC) to Coinbase in the coming months. We are announcing this  both internally and to the public consistent with our process for adding  new assets," the company explained in its official blog.  "When  we reach the final testing of the technical integration, we will  announce a date that customers on Pro and Prime can begin placing limit  orders on the Ethereum Classic order book on Coinbase Markets. Once that  resting market reaches sufficient liquidity, we will then enable  trading."  

ETC/USD reacted strongly to the news.  The coin jumped more than 20% in a single hour and recovered all the  losses incurred during the weekend. The price bottomed out at $12.00,  which is the lowest level since November 2017 and spiked to $16.00  before the profit-taking on speculative accounts triggered a correction.  Currently, ETC/USD is trading at $15.50 with major long-term resistance  at $17.70, created by 100-DMA.  ETC/USD, the daily chart  

#crypto #coinbase #ethereumclassic
6 years ago in #etc by
$0.00
    2 votes
    Reply 3
    Sort:  
  • Trending
    • [-]
     6 years ago 

    Coins mentioned in post:

    CoinPrice (USD)📉 24h📉 7d
    BTCBitcoin6567.900$-3.96%-13.83%
    ETCEthereum Classic14.702$14.89%-5.06%
    ETHEthereum493.606$-6.3%-18.87%
    LTCLitecoin100.135$-5.76%-17.46%
    [-]
     6 years ago 

    Congratulations @rakeshsmm! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

    Award for the number of posts published

    Click on the badge to view your Board of Honor.
    If you no longer want to receive notifications, reply to this comment with the word STOP

    Do not miss the last announcement from @steemitboard!

    Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

    $0.00
      Reply
      [-]
       6 years ago 

      Congratulations @rakeshsmm! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

      Award for the number of upvotes

      Click on the badge to view your Board of Honor.
      If you no longer want to receive notifications, reply to this comment with the word STOP

      Do not miss the last post from @steemitboard!

      Participate in the SteemitBoard World Cup Contest!
      Collect World Cup badges and win free SBD
      Support the Gold Sponsors of the contest: @good-karma and @lukestokes

      Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

      $0.00
        Reply