Ethereum Classic Jumps 15% Ahead of Today's Coinbase Launch

Ethereum Classic Jumps 15% Ahead of Today's Coinbase Launch


Ethereum classic (ETC) is reporting double-digit gains on the heels of an anticipated listing on the Coinbase exchange as of 17:00 PST (00:00 UTC) on Thursday.

At time of writing, ETC is trading across exchanges at an average price of $14.04 – a 15.72 percent gain in the last 24 hours – and is currently the biggest gainer among the top 15 cryptocurrencies by market capitalization, according to CoinMarketCap data.

This is not the first time that ETC is cheering its association with Coinbase – it rose sharply earlier this month to a high of $21.25 as traders welcomed its listing on Coinbase Pro, the firm's platform aimed at more experienced traders.

However, things took turn for the worse in subsequent days courtesy of a broader market sell-off and ETC fell to $10.25 on Aug. 14 – down 50 percent from its Aug. 7 high, as per Bitfinex.

Although the markets generally are now showing signs of recovery, today's above average bounce surely marks revived investor interest on the Coinbase news, and leaves the cryptocurrency printing a 36 percent gain since the low set two days ago.

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