Ethereum Classic price (ETC/USD) surges ahead of Coinbase listing

Written by: Michael Harris
April 10, 2020

The Ethereum Classic price (ETC/USD) surged by as much as 12.7% on Thursday ahead of the coin’s addition on the largest US crypto exchange Coinbase.

The San Francisco crypto wallet and exchange operator today announced that it had added support for the forked version of Ethereum across its platforms.

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“Customers in every country where Coinbase operates can log in now to buy, sell, send, receive, or store Ethereum Classic, along with Bitcoin, Bitcoin Cash, Ethereum, and Litecoin,” the company said in a blog post.

Coinbase announced its intention to add ETC to it portfolio of digital assets in mid-June, indicating that the integration process would take several months. Earlier this month, the company commenced the launch of ETC on its crypto exchange service.

In today’s announcement, Coinbase indicated that it intended to add more digital assets in the future.

“One of the most common requests we hear from customers is to be able to trade more assets on Coinbase. Ethereum Classic is just a first step in that direction,” it said.

The Ethereum Classic price surged to a six-day high of $14.91 in yesterday’s late trading. The digital currency failed to defend these gains, finishing the day at $13.90, according to data from cryptocurrency tracker Coinmarketcap. Still, this was significantly higher than the coin’s opening level of $13.22.

While the Ethereum Classic has seen some price swings in today’s trading, it has so far managed to avoid major price corrections.

In today’s trading, the Ethereum Classic price stood at $13.78, as of 14:41 BST. The digital coin has lost 0.2% of its value in the past 24 hours, Coinmarketcap data shows. The coin’s total market value currently stands at $1.431 billion, just of TRON’s $1.433-billion market cap. This makes ETC the 12th most valuable digital coin on the market.