13 Jun 2018 Kristina Pavlova
ETC Celebrates Coinbase Integration and Price Increase
Ethereum Classic’s price surged following the news that Coinbase will add ETC to its portfolio of coins by the end of September.
The crypto market watch recorded a downward trend in the last month, causing a 15% loss for the altcoins. Coinbase’s announcement broke the trend, helping ETC spike its price by over 22% - from $12.89 to a high of $16.10 per token.
With the announcement, Coinbase provided all details of the integration and clarified that all users who had ETH on GDAX during the 2016 fork, did not withdraw their ETC before January 2017 and had Ethereum balances would be eligible for ETC withdrawals.
Coinbase made the strategic decision to announce the integration of the coin early, learning from their lesson with Bitcoin Cash in December 2017, when the integration was marred because of the price rise of $8 500.
Despite the first stagnated ten months for ETC with a price of $2, and an end-of-the-year mark at $20, January 2018 broke the trend, when the token was trading at $47. Unfortunately, the success lasted for a few months, and recently ETC price was $12. Thanks to the Coinbase announcement, the coin moves to the green area again.
Market analysts debate if the Coinbase listing will be strong enough to boost ETC to its former highs. It is likely that will be dependent also on the performance of the whole altcoin market. A Bitcoin price break above $8000, would help altcoins reach new higher price marks.
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