Coinbase Announces ETC Listing, While Binance Adds Two ETC Pairs
Ethereum Classic (ETC) rose 18% today after Coinbase announced its intention to list the cryptocurrency in the coming months. Last time, when Coinbase announced the listing of Bitcoin Cash (BCH), there were allegations of insider trading.
To avoid such controversies, Coinbase made the announcement to both the general public and its employees at the same time through a tweet. According to Coinbase, the announcement will enable the engineers in the company to begin preparing the necessary support system for the listing of Ethereum Classic (ETC) on the exchange.
The Coinbase blog stated
“As part of this process, customers can expect to see public-facing APIs and other signs that the asset (ETC) is being added.”
The blog also informed that the official listing date will also be announced through social media channels in the upcoming months. In particular Coinbase stated
“When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter.”
Ethereum Classic will be listed in both CoinbasePro (GDAX) and traditional exchange service of Coinbase. The exchange also intends to provide custody service for the cryptocurrency. The custody service business of Coinbase is yet to be launched, but was announced in November last year.
We are pleased to announce our intention to add support for Ethereum Classic (ETC) on Coinbase in the coming months.https://t.co/bUG4iLUr2J
— Coinbase (@coinbase) June 12, 2018
Ethereum Classic will also be added to the Coinbase Index Fund, which is made up of all the crypocurrencies listed on Coinbase services. The minimum acceptable investment in the index fund is $250,000 and is aimed at institutional investors.
Coinbase has also mentioned that it will distribute the Ethereum Classic obtained on behalf of Ethereum holders during the 2016 ETH hard fork.
In other news, Binance has listed two new Ethereum Classic pairs – ETC/USDT and ETC/BNB – for trading. Both reports had a positive impact on the cryptocurrency which gained almost $2.50 to trade at $15 levels.