The largest cryptocurrency exchange platform in the US will commence final tests phase for Ethereum Classic (ETC) support. ETC will start its operation on Coinbase Pro on August 7th.
Coinbase to support Ethereum Classic (ETC)
The official announcement is that the cryptocurrency exchange’s Ethereum Classic (ETC) listing is scheduled for finalization on Tuesday, August 7th. At that time, the company will notify the customers that it will start accepting inbound transactions in ETC.
Our engineering team is beginning final testing of Ethereum Classic on Coinbase products. We expect the final tests to be completed by Tuesday, August 7, when we expect to announce that we are ready to accept ETC transfers.
The platform will enable inbound transactions for 24 to 48 hours via Coinbase Prime and Coinbase Pro in advance of permitting Ethereum Classic (ETC) trading. However, these deadlines do not constitute an end date but are instead the company’s best guess as to when it will be prepared to embrace Ethereum Classic (ETC).
An update is expected shortly before August 7th.
Ethereum Classic (ETC) surged over the Coinbase announcement
It is not unusual for cryptocurrencies to undergo significant price surges once a major cryptocurrency exchange platform listing is guaranteed, not to mention one such as Coinbase.
The Ethereum Classic (ETC) price has, of course, responded to the recent Coinbase news, but has not yet garnered official backing.
After the announcement, the Ethereum Classic (ETC) spiked by approximately 10 percent and has been rising even more since then. At the time of this article, ETC is trading at $17.38, increasing a little more than 4.5 percent in the last 24 hours.
Even more, it is expected that the cryptocurrency to keep on surging as we move closer to August 7th when the ETC is scheduled to be introduced on Coinbase cryptocurrency exchange platform.
Ian Kennedy is the newest contributor to Crypto Daily Gazette. He enjoys running, practicing minimalism and cooking. Ian is a graduate of Wesleyan University in Connecticut where he studied journalism, Arabic and international affairs. Ian mostly covers stories concerning emerging blockchain technology.