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How Ethereum Classic ETC managed to beat Ripple XRP in the race to being listed on Coinbase

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Whether you like it or not, the Coinbase effect is real in the crypto space. As 2017 came to a close, the rumor of Ripple getting listed on Coinbase resulted in a spike in the price of XRP such that the coin hit unprecedented highs of almost $4 per XRP. Obviously, with the market dip that came almost immediately, XRP market price has corrected ever since and is now priced at $0.54 per XRP.

ETC to be added to Coinbase

Just recently Coinbase made an announcement on their blog about their intention to add Ethereum Classic to their trading and cryptocurrency exchange platform. The announcement that came about on Monday this week hit the crypto space by storm leaving most dumbfounded over how Coinbase made the move to list ETC and not one of the top altcoins like RippleXRP.

Ethereum Classic is now on its way to being the fifth cryptocurrency supported on Coinbase (one of the most popular crypto trading and exchange platform in the US). What took most by surprise is the fact that coins such as Ripple have been gunning for the coveted position of being listed on Coinbase yet Ethereum Classic (listed at position 18 on CoinMarketCap with a market cap of $1.6 billion) managed to beat the competition.

ETC price spike

In fact, right after the announcement, the price of ETC went up by over 20 percent going from $12.81 to $16.40, in a span of about 24hours. This happened even before Coinbase was able to put out a specific date for when ETC would be listed on the retail brokerage platform.

According to the announcement, ETC will be added to Coinbase’s Custody platform, Coinbase Markets, Coinbase Pro, Coinbase Prime, and, Coinbase Asset management in the coming months. Coinbase has reportedly been pushing to get registered by federal registration as an alternative trading system and investment adviser. This will allow the company to list more cryptocurrencies to its exchange.

Coinbase move to pick ETC instead of XRP

Coinbase is known to be super choosy over the coins it supports, however, a couple of reasons as to why they decided to support ETC over other viable options like Ripple XRP are evident. To begin with, ETC (unlike XRP) is a fully decentralized cryptocurrency that was forked from Ethereum after an attack that saw investors lose money on the Ethereum platform. Although IOHK is currently in charge of running the Ethereum Classic Blockchain, ETC remains to be an open source Blockchain project that is transparent and stable. Perhaps it’s the decentralized, stable and transparent nature of Ethereum Classic that has made it worthy of being listed on the giant brokerage firm.

Is XRP a real cryptocurrency?

This is not to say that XRP is unstable. It’s just that Ripple XRP, operates on a centralized framework whereby it cannot be mined and transactions are verified by a centralized Blockchain framework controlled by Ripple labs (the company). It’s for this reason that most cryptocurrency enthusiasts do not consider XRP a “Real Cryptocurrency.”

However, there might still be hope for XRP to be added to Coinbase considering reports that Coinbase might be moving base to Japan where cryptocurrency regulations are much more lenient than in the US. Plus Coinbase has also promised to add more ERC20 cryptocurrencies in the future. Whether XRP makes the cut will be something we have to wait and see.

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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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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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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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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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