Home Coinbase Ethereum Classic (ETC) sees an upsurge despite the bearish market bleeding other cryptos

Ethereum Classic (ETC) sees an upsurge despite the bearish market bleeding other cryptos

3 min read


Pinaz Kazi

Jun 26, 2018 at 5:33 PM

Ethereum Classic (ETC) made it to the spotlight soon after a game-changing announcement – Coinbase to add the crypto soon. A sudden upsurge in the price has been noted, despite the bearish market bleeding other cryptos.

According to Cryptovest, Exact date to appear on Coinbase has not been set yet. However, it is known that it would be the cheapest coin, as potential buyers expect. It is to be noted that the cryptocurrency rose by 13% overnight, that is, to $16.36, and it has a net weekly gain of around 9%. It is a very significant increase when compared to other coins’ losses. The current price movements of Ethereum Classic are supported by OKEx trading. Previously, the leading ETC pairings were with the Korean Won.

See also: Ethereum classic [ETC] gets support from Metamask: Opens door to endless possibilities

Initially, it was considered to be a dead coin by many but it has taken a sudden positive turn, as people started buying ETC. Reportedly, the investors are former Litecoin (LTC) and Ripple (XRP) investors who possibly did not expect much from the project initially. According to the reports, the Ethereum Classic project recently partnered with the Radex decentralized exchange. The decentralized platform for trading ETC would also be available for all related tokens and assets on the network. The project will also have a new dApp explorer.

Despite being the sixth largest coin on the basis of daily trading volume, Ethereum Classic had poor performance until now. Last year, Charles Hoskinsons, CEO of IOHK, founder of Cardano and one of the leading person behind Ethereum Classic said in an interview, Ethereum Classic was only trying to survive right until now. They had all the essentials, be it the tech or the team. However, the forces were against them. It was just that Ethereum Classic did not have enough funds to attract more developers, investors, miners, and ICOs.

Image via Shutterstock

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