Many crypto-enthusiasts believe that the top 5 crypto-currencies might have fatigued the entire markets by always being in the news. Some are calling for a change in guard at the top and Ethereum Classic (ETC) is one cryptocurrency that might be heeding the call to ‘flippen’ the top 5 coins and bring about change. We can call it the Rise of the Alt-coins because something is indeed brewing.
Flippening refers to the point where a lesser known digital asset, overtakes a more prominent one in terms of market capitalization.
Looking at the recent announcements by both Robinhood and Coinbase to add Ethereum Classic (ETC) support on their platforms, we can clearly see that ETC deserves some recognition henceforth.
RobinHood beats Coinbase at adding ETC
Looking at the commission-less exchange of Robinhood, the team went ahead to announce that they would start supporting ETC starting on the 6th of August. The exchange currently is live and running in 19 states in the United States and is working on getting more licenses to operate in more US States. The exchange stated the following with regards to adding ETC:
“Starting today, you can invest in Ethereum Classic on Robinhood Crypto, commission-free.
You can also invest in Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dogecoin, as well as track market data for 10 other cryptocurrencies.”
Coinbase announces final testing of ETC support and final launch on August 7th
3 days before the RobinHood announcement, Coinbase released its own statement on August 3rd stating that the exchange is in the final stages of testing ETC support and would begin Ethereum Classic (ETC) trading on the 7th of August. The exchange stated that:
“We expect final testing to be completed by Tuesday, August 7, at which point we will announce that we’re ready to accept inbound transfers of ETC. We intend to allow 24–48 hours of inbound transfers through Coinbase Pro and Coinbase Prime before enabling trading.”
Summing it all up, these two prominent American exchanges will increase the liquidity and demand for ETC that will result in the digital asset finding its way up the rankings according to coinmarketcap.com. We all remember how Bitcoin Cash shot up in value when it was added on Coinbase. BCH Was trading at levels of $4,000. XRP also reached around $3.82 when there was speculation of Coinbase adding the digital asset back in January. Therefore, ETC will surely respond in a similar manner in the next few days.
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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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