ETC price: Coinbase has no plans to support Ethereum Classic yet

on Jul 24, 2017
Updated: Sep 18, 2019

The world’s largest bitcoin wallet and trading exchange Coinbase has clarified that currently it has no plans to support Ethereum Classic (ETC) on its platforms, The Cointelegraph has reported.

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Last week, a number of analysts, including the founder and CEO of Digital Currency Group Barry Silbert, suggested that Coinbase might be considering integrating Ethereum Classic in the near future. The speculation was prompted by the discovery of an API link to Ethereum Classic on the Coinbase platform. However, the rumours were swiftly denied by the US exchange.
“We have no plans to support ETC at this stage. This API call is a relic of the ETC withdrawals,” the Coinbase team informed via Twitter.

The API link points to the days before the split of the Ethereum blockchain into Ethereum and Ethereum Classic. Just over a year ago the Ethereum Foundation and the Ethereum development team executed a hard fork to recover funds stolen during the initial coin offering of Decentralized Autonomous Organization (DAO). But the move was opposed by some in the Ethereum community, who continued to use the old blockchain, which was dubbed Ethereum Classic.

While in the current market ETC is overshadowed by the ETH, this cryptocurrency and its underlying blockchain have developed a strong following. The coin received a strong boost earlier this month, when it was listed on two major Chinese exchanges – OKCoin and Huobi. The pair joined local rival BTCC, which had made ETC trading available to its clients at the end of June.
The Cointelegraph cites Chinese sources, according to whom, the majority of the Chinese cryptocurrency community currently considers Ethereum Classic as the original Ethereum Blockchain network.
As of 12:14 BST, the ETC price stood at $15.79 and was up 1.24 percent over the past 24 hours. According to data from Coinmarketcap, ETC is the sixth-largest cryptocoin, with a market capitalisation of $1.48 billion.


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