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What led to Ethereum Classic (ETC) listing on Coinbase? - Global Coin Report
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What led to Ethereum Classic (ETC) listing on Coinbase?

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Ethereum Classic
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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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VOLUM uncorks its track and trace platform for global alcoholic beverage producer ISBG

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VOLUM onboards global wine and spirits producer, ISBG, to simplify its supply chain process with a track-and-trace platform that digitizes and reduces traditional paperwork

 

ESTONIA — March 2019 — VOLUM, the blockchain ecosystem for enterprises, is announcing that ISBG, a global producer of alcoholic beverages incubator, is partnering with VOLUM to implement its platform into its sales and distribution process. The VOLUM platform digitizes and simplifies both traditional paperwork and the supply chain process, using its operational smart contracts.

 

A supply chain can be a difficult process to track and trace. A comprehensive system of organizations, activities, information, and resources have to be accounted for, not to mention the overwhelming amount of paperwork. So, what’s a large corporation to do, if it truly wants to accelerate its supply chain while cutting back on paper waste? VOLUM has developed a blockchain framework that allows enterprises to convert traditional paperwork into a digital process while safeguarding all transactions and steps within a company’s supply chain.

 

VOLUM leverages blockchain technology with an ecosystem that is specifically designed for farmers, manufacturers, distributors, public utilities, governing agencies, financial institutions, and IoT data hosts. The VOLUM…

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Blockchain-Focused ETF Arrives on London Stock Exchange

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blockchain-focused ETFs
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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Jeff Bezos
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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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