Ethereum Classic price (ETC/USD) breaks above $17 thanks to late Wednesday surge

Written by: Michael Harris
April 10, 2020

The Ethereum Classic price (ETC/USD) has been the best performing major digital coin in the past 24 hours, according to data from cryptocurrency tracker Coinmarketcap.

The top 20 cryptocurrency saw a sharp increase in late Wednesday trading, which allowed it to break through the $17 barrier for the first time in a month. The digital coin finished the day at an intraday high of $17.27, up from its opening level of $15.59.

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ETC further extended its gains in today’s early trading, rising to $17.38. Since then, however, the coin has seen a number of price fluctuations, which have hindered its advance. But while the coin has seen a couple of steep drops below the $17 mark, a recent rebound has allowed it to revisit that level. At the time of writing, the Ethereum Classic price was hovering around $17.10, according to Coinmarketcap.

Ethereum Classic received a strong boost on last week after the largest US crypto exchange Coinbase, announced that it would add the digital token to most of its services. According to the June 12 announcement, the coin will be supported on Coinbase Pro – formerly known as GAX – Custody, Markets and Prime. However, the digital coin would not be added to Coinbase’s wallet service straight away, as the company wants to evaluate factors such as “liquidity, price stability, and other market health metrics” first. The company expects that the integration process will be completed in the coming months.

In today’s trading, the Ethereum Classic price stood at $17.15, as of 16:50 BST. The digital coin has gained 5.4% in the past 24 hours, Coinmarketcap data shows. The digital currency currently has a total market cap of $1.75 billion, which makes it the 18th largest cryptocurrency on the market.