The commission-less exchange of Robinhood announced that it will begin supporting Ethereum Classic (ETC) effective August 6th. Coinbase exchange also announced that it will be supporting Ethereum Classic (ETC) beginning August 7th. These two exchanges open ETC to a pool of investors in the United States that are estimated to be in the millions. What might happen is that ETC might reach the Moon very soon.
Looking at Coinbase, and using 2017 data, the exchange enjoyed the patronage of over 13.3 Million users by late November 2017. This number is actually higher than regular investment giants such as Charles Schwab which had 10.6 Million active brokerage accounts as of November 2017. Given the fact that we are in a bear market, the number of Coinbase users could have dropped by a quarter leaving approximately 10 Million active traders.
Analyzing Robinhood and according to data from May this year, the trading app has over 4 Million active users. Majority of whom are millennials who are attracted to the mobility of trading through their phones and the fact that the exchange is commission-less. What better way to attract the young generation of traders than through free trading on an app? And now Ethereum Classic is very much accessible to these young traders through their ‘fingertips’.
Summing up both figures, this means that ETC gets exposure to over 14 Million traders by the end of 7th August this year. The current price of ETC is $19.05 but the coin seems to be more bullish than other coins and could be headed for a triple-digit finish by the end of 2018.
One price prediction available online puts ETC at $200 by the end of the year due to the following two factors:
- Technical analysis
- Renewed interest into the digital asset by investors
With respect to the latter, ETC is a breath of fresh air in the crypto-markets that have been dominated by the big 6 currencies of BTC, ETH, XRP, BCH, EOS, and LTC for the last few months. The digital asset now has access to two new American based exchanges with approximately 14 Million active users. A conservative estimate of the value of ETC by the end of the year would be $50 if the bear market continues as it is.
However, with a pending Bitcoin ETF at the SEC and the owners of the New York Stock Exchange (NYSE) getting into crypto-investing, $50 might be reached sooner than we think. This will, in turn, clear the way for a $200 ETC by the end of 2018.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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