Despite being down today and having been unable to escape the market bloodbath that has been taking place since November 14th, the Ethereum Classic (ETC) cryptocurrency received good news on Tuesday, November 27th.
As it turns out, the Coinbase Wallet, which is a product of the influential American cryptocurrency exchange Coinbase, will start supporting Ethereum Classic “in a matter of days,” according to a blog post published this Tuesday.
The aforementioned blog post clearly states that the Coinbase Wallet app will be updated within the next “few days” in order to incorporate Ethereum Classic. Users and investors will be able to view, send, and receive ETC with no restrictions once the update is complete and ready to use.
“Your Wallet app should update in the next few days, after which you can view, send, and receive ETC on your Wallet,” the platform wrote in its blog post.
People that already own a Coinbase Wallet will have the same ETH addresses as their ETC ones, so there will be no confusion. Hence, Ethereum Classic joins other 100,000 ERC20 tokens in the Coinbase Wallet’s offerings.
Three Months Later
The Coinbase Wallet first made its plan public about supporting Ethereum Cash in June. The news, at the time, cause ETC’s price to go through the roof. The listing went live three months ago, in August, and as a result, ETC was incorporated into the Coinbase Index Fund, according to Cointelegraph.
Bittrex, one of the most famous and widely used cryptocurrency exchanges with a wallet, added a USD-ETC trading pair in August. Robinhood, another platform to trade assets, also announced support for ETC in the same month.
A Little Bit more about Coinbase
Coinbase, with headquarters in the state of California (United States of America,) is a cryptocurrency exchange. It pairs, or “broker” exchanges of a host of digital assets, such as Bitcoin, Ethereum, Ethereum Classic, and Litecoin with fiat currency in more than 30 nations around the world. It also offers Bitcoin transactions and storage in 190 countries.
Its two most prominent products are a GDAX (Global Digital Asset Exchange) for trading assets and a user-facing retail broker of Bitcoin, Bitcoin Cash, Ether, Ethereum Classic and Litecoin for fiat currency.
A Little Bit more about Ethereum Classic
Ethereum Classic is a cryptocurrency, the number 17 according to market cap ranking published daily by the specialized site Coin Market Cap. It was the result of a 2016 hard fork in the Ethereum blockchain, citing differences in the way to respond to the DAO hack of the blockchain as the primary reason for the split.
At the moment of this writing, Ethereum Classic (ETC) was changing hands at $4.39, which is an increment of 0.44 percent in the last 24 hours. Its total market cap is $467,270,943.00 and the trading volume in the last 24 hours amounts to $149,464,022. There are 106,345,199 total ETC in circulation.
As it happened with all cryptocurrencies in the top 20, its decline started in January, a moment in which it comfortably surpassed $40.
By Andres Chavez