The Rise of Ethereum Classic (ETC)
Robinhood Financial reported that it would list Ethereum classic to its exchanging platform making it the sixth, advanced currency it has recorded. This news comes before the day when Coinbase was about to add ETC to its trade.
From today, you can invest into Ethereum Classic on Robinhood Crypto, without commission, an official blog entry read. The ETC choice is accessible to merchants in the 19 US states.
The crypto exchange platform came to light in February with the help of Bitcoin( BTC) and Ethereum( ETH). In recent months Robinhood accomplished a $5.6 billion valuation in May. We can also track market data and produce price alerts for ten other cryptocurrencies like Monero (XMR), Ripple (XRP), Dash (DASH), Neo (NEO), Lisk (LISK), Qtum (QTUM), OmiseGO (OMG), ZCash (ZEC), Stellar (XLM) and BitCoin Gold (BTG). Considering the organisation’s steep improvement since the beginning of the year, the previously mentioned resources are conceivable future options for the exchanging service.
Robinhood has been growing its administrations on a state-by-state premise, assembling the vital licensing to work in every district. Recently it reported that would start supporting Ethereum Classic. It will offer ETC $18.8330 – 0.26% exchanging for clients living in one of the US qualified states.
The exchanging stage has kept on expanding the quantity of upheld cryptocurrency accessible to clients. Presently Robinhood traders can work in Bitcoin $7076.35 +0.2%, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, and now Ethereum Classic.
Coinbase’s Announcement For Listing Ethereum Classic (ETC)
Robinhood decision of listing Ethereum classic is followed up by a familiar announcement made by Coinbase. However, in the last week, Coinbase stated that it was in the final testing of the digital currency and soon it will start approving exchanges in ETC today. However, the statement emphasizes, that this recent listing will only be available for customers with Coinbase pro and Coinbase prime accounts. Moreover, Ethereum classic effect will not go into action immediately.
Coinbase website explains that they intend to approve 24-28 hours of exchanges through pro/prime before the kickoff into the markets. In conformity with their trading rules, all ETC books will be open only for a minimum of 10 minutes. Once the exchange accomplishes adequate liquidity it will improve trading on pro and prime. Robinhood, which is a solid contender to Coinbase in the US market, must have opted to advance up its improvement exertion for including Ethereum Classic with the goal that it could have helped to prepare before Coinbase.
Also Read: Coinbase to list ETC creating a stir
Robinhood CEO’s Verdict
Robinhood co-founder and co-CEO Baiju Bhatt said in a meeting with Fortune prior this year that the organization intends to support its cryptographic money exchanging firm and exceed Coinbase, which as of now has around 20 million clients. Bhatt commented that, unlike its principal rival, Robinhood is now an enlisted merchant with the Securities and Exchange Commission (SEC).
Video Source: NEWSBTC
The listing proclamation has raised the value of Ethereum classic. In the past few days, ETC surged from around $14 to $18, depicting a 28% profit.
Ethereum Classic – Present Scenario
Presently the coin has authoritatively exceeded the market to the top of NEO and Monero. Now, it is positioning as the twelfth biggest cryptocurrency. The coin boasts of a market capitalization of $1.9 billion, as indicated by Coin’s online information. In the previous 24 hours, Ethereum Classic has increased a little more than 6% to exchange at $18.28. The coin hike came amidst a typically subdued market, leaving all assets in red throughout the day.