While many cryptocurrency investors haven’t been too happy this past week as nothing much happened as a result of breaking news that the world’s largest stock exchange operator Coinbase is launching a bitcoin market, ethereum classic investors and supporters are rejoicing.
Now, ethereum classic (ETC) got another significant boost as Coinbase Pro began accepting ETC deposits. Trading against USD and other cryptocurrencies is scheduled to begin later this week.
For the time being, ethereum classic is not available through the regular Coinbase brokerage service. It is expected that ETC will be listed on Coinbase once the market stabilizes on Coinbase Pro.
The announcements that Coinbase Pro will accept ETC – and that ETC will likely soon be listed on Coinbase – have caused a rally in ETC price. Just this past week, the value of ETC has risen by more than 11% against the US dollar. This surge makes ETC not only the top-performing cryptoasset among coins with $1 billion+ market caps, but also the only large-cap cryptocurrency to experience positive price action this week, in a generally depressed market.
Currently, ETC is trading at around $18.59. This ranks the coin as the 12th-largest cryptocurrency, and provides it with a $1.9 billion market cap.
Ethereum classic has become the sixth cryptocurrency listed on Robinhood, a stock trading app whose crypto trading service is currently available in 19 US states.