Cryptocurrency exchange Coinbaseannounced it will add Ethereum Classic to its service in the coming months. 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 (Sep 5)'. Due to a philosophical disagreement within the community, the hard fork ended up creating two coins - Ethereum and Ethereum Classic.
"We are pleased to announce our intention to add support for Ethereum Classic (ETC) on Coinbase in the coming months". It also plans to add support for the ERC20 token standard in the future.
Ethereum Classic will first be listed on Coinbase Markets, Coinbase Pro, and Prime, after which Coinbase may add support.
Despite its relatively low market cap compared to other assets on the platform, ethereum classic is a logical choice since Coinbase is already holding ETC for many of its customers as a byproduct of the Ethereum network split that divided the blockchain into ETH and ETC. Only after the cryptocurrency has established itself on those platforms will "regular" Coinbase users be able to trade it. ETC books will open in post-only for a minimum of one hour. Additionally, Coinbase has credited everyone who had Ethereum balance during the hard fork in 2016 and did not withdraw. The move had sparked speculation about which asset Coinbase would list next.
With the upcoming listing, Ethereum Classic will become the fifth cryptocurrency listed on the platform after Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. After evaluating factors such as liquidity, price stability, and other market health metrics, we may choose to add Ethereum Classic to the Coinbase platform.
"The internal asset selection committee has been assessing assets using our Digital Asset Framework, but no assets have been recommended to the Coinbase executive team", the company said at the time.
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