ETC Comes to Coinbase, Marking Impressive Progress for the Token
Coinbase recently made an announcement that marks good news for Ethereum Classic (ETC). On Twitter, the company’s official profile posted:
ETC-USD, ETC-BTC and ETC-EUR order books are now in full trading mode! Limit, market and stop orders are all now available across all ETC trading pairs. https://t.co/kmOI6HQj7E
— Coinbase Pro (@CoinbasePro) August 9, 2018
Basically, if you are an investor with a stake in ETC, the reach of that token has now expanded.
Even though Coinbase made the annoucement widespread, Ethereum Classic actually released a statement even earlier that they would be able to list their token on Coinbase Pro. This platform is primarily reserved for individual traders. Their annoucement also noted that they would be listing the token on Coinbase.com, but that move has finally become a reality. The only requirement that Coinbase seemed to have was that ETC needed to increase their liquidity.
Based on the current projections, ETC should meet the liquidity requirements within two or three weeks, once they are cleared for full trading. Full trading is actually the fourth and final stage of the launch, following trade only, post only, and limit only, in that order.
To protect their platform, Coinbase issues somewhat of an ultimatum to newly listed tokens. On the off-chance that the market is not able to complete the orderly assessment, the coin would either go through one of two options. The first option would be to suspend any activity involving the coin on the platform, while the other option would be to stretch out one of the four stages until they can reach the requirements. Based on their ability to participate in full trading, it seems that ETC has already completed the requirements of the assessment.
Multiple Twitter users have commented on this new change, with most of the comments being positive and encouraging of the addition. However, others believe that there will be price manipulation. Based on the reactions that typically come with these changes, it is normal to have a few naysayers, but it should not impact the performance of the token now.
Ethereum Classic has been a platform to follow in the industry. They are presently the second-largest in holdings for Grayscale, which is an investment firm that typically involves themselves in cryptocurrency. The leading token is Bitcoin right now, though Grayscale owns about $90 million in ETC right now, based on its flexibility and the easy integration into the Internet of Things (IoT).
Grayscale is not the only one with faith in ETC. They are in good company with Bittrex, who released an announcement that they would be broadening their market to include the USD market for Ethereum Classic, which would be joined by XRP. These two tokens will help the Bittrex platform to have greater security and to move funds quickly for users.
Robinhood has joined in on this action as well, seeing the clear performance of ETC right now. In fact, ETC is only the sixth token that is available on their crypto platform right now, which is a smart way for Robinhood to bring in new users.
Based on the most recent data from CoinMarketCap, Ethereum Classic presently is holding at the 13th position, and is being traded at $15.23.