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What led to Ethereum Classic (ETC) listing on Coinbase?

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Ethereum Classic

When Coinbase was asked about adding new crypto assets in March, no such coins were considered at that time. The addition of Ethereum Classic (ETC) is thus a welcoming news that led to positive price fluctuations of ETC in the market. The announcement on Monday by Coinbase led to a rapid increase from $13 to above $16 within an hour. The price was near about $15.50 late Monday night (ET). Coinbase is now progressing with the engineering work that is required to support Ethereum Classic.

According to the Coinbase blog, “customers can expect to see public-facing APIs and other signs that the asset is being added. When we reach the final testing phase of the technical integration, which we expect to occur over the next few months, we will publicly announce a launch date for trading via our blog and Twitter.”

So, what are the reasons that made Coinbase bypass Ripple (XRP) and choose Ethereum Classic that is currently ranked at the 18th position on coinmarketcap.com?

  • As per the Digital Asset Framework: Digital Asset Framework keeps tab of the performance of the crypto assets and estimates the stability and the prospects of the digital assets. Ethereum Classic accords to most of the points in the Digital Asset Framework. After almost two years of the hard fork, Ethereum Classic has the looks of a separate promising altcoin that has a good development team with a distinguished roadmap.
  • Trading volume accordance: The market cap and daily trading volume of a crypto coin actually narrate its progress in the market. Ethereum Classic (ETC) shows a good trading volume for the past month with a value above $100,000,000 USD and sometimes over $200,000,000 USD. After the announcement of Coinbase regarding the inclusion of ETC in their list of crypto assets, the volume (24h) had jumped to nearly $686,019,000 USD on 12th June 2018. Also, if the trading volume is compared by analyzing the 30-day historical data of ETC from coinmarketcap.com then, compared to the other top-ranked coins, ETC shows more consistency.
  • Probably Ethereum Classic was already being considered: Coinbase continues to keep tabs from the DAO hard fork that had occurred in 2016. At that time, it had resulted in a loss of nearly 3.6 million Ether tokens whose net worth was approximately $50 million. Those who held onto the coins they will most likely make a nice profit and load their wallets once they reach new heights or if they perform well enough in the near future. So, Ethereum Classic that has an enlarged community and a familiar name will obviously create an interest in anyone acquainted with the cryptocurrencies. It is also to be noted that Litecoin (LTC) had made some rapid progress after it was listed on Coinbase last year.
  • Proven technology: Ethereum Classic sports a known technology and the wallet system is secure. It is unlikely to experience any glitches. Derivative instruments of the crypto coin are also present that have acquired the interest of many traders. The Coinbase users will be able to take advantage of this fact with the inclusion of the cryptocurrency.
  • Approval of regulators: Coinbase is always careful to enlist cryptocurrencies that are accepted by securities or regulators. Another probable reason for enlisting ETC may be that Ethereum Classic is a platform asset and a utility coin. Ripple (XRP), on the other hand, was experiencing a little turbulence and some arguments that could be considered as a security. Moreover, the Thailand market authorities had recently approved Ethereum Classic (ETC) and Stellar (XLM). This way Ethereum Classic also made a more prominent mark in Asia.

“Coinbase will list assets only after they are listed on Coinbase Pro and Prime. After evaluating factors such as liquidity, price stability, and other market health metrics, we may choose to add Ethereum Classic to the Coinbase platform. It’s also worth repeating that Coinbase Markets, Coinbase Pro and Coinbase Prime will likely have more assets listed on the platform than the Coinbase platform, i.e. listing on Coinbase Markets does not guarantee listing on Coinbase.”

  • Coinbase Blog Post (medium.com)

A crypto coin making it to the list of an exchange is not a major news but, when it is Coinbase it is a major news. This is mainly because Coinbase is extremely selective and till date offers only four virtual currencies- Bitcoin, Ethereum, Litecoin, Bitcoin Cash. Also, unlike many other crypto exchanges, Coinbase prefers to work hand-in-hand with regulators. So, the addition of another cryptocurrency (Ethereum Classic) is surely a major news. The Twitter post of Coinbase on 12th June 2018 says, “We are pleased to announce our intention to add support for Ethereum Classic (ETC) on Coinbase in the coming months.” Ethereum Classic was itself busy recently as the developers had to introduce a hard fork of their own to remove the ‘difficulty bomb’. It was a part of the original Ethereum blockchain designed to increase the difficulty level of mining.

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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

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Press Release