The announcement, which came in a Coinbase blog post, saw the price of Ethereum Classic spike from around $13 to over $16 in the hour after the news was announced. "We are announcing this both internally and to the public consistent with our process for adding new assets".
"Note that customers who previously had an Ethereum Classic balance on the platform as a result of the 2016 Ethereum hard fork and did not elect to withdraw their funds prior to January 2017 will receive a corresponding Ethereum Classic credit", adds Coinbase.
This day started with a bang for Ethereum Classic and it reflected on the price as well - 25% up in a day. "We plan to offer support for Ethereum Classic in all geographies where the asset is compliant with local law".
Coinbase Prime - the Prime team is planning to add trading support for Ethereum Classic.
This is no doubt the start of a far bigger project for Coinbase, who have also recently confirmed that they are going to add support for Ethereum ERC-20 Tokens and will also start to list other Bitcoin Forks, this would include currencies such as Bitcoin Private, Bitcoin Diamond and Bitcoin Gold. It is now Ethereum Classic's turn but without any Main Net reasoning. 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)'.
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"#Binance Adds #ETC/BNB and $ETC/USDT Trading Pairs."
Both the announcements have made wonders to the currency which was a result of the hard fork of the original Ethereum [ETH] Network in July 2016.
Coinbase announced on Monday that ethereum classic would become the fifth cryptoasset to be listed on the firm's platforms, joining bitcoin, ethereum, bitcoin cash, and litecoin. The coin is trading for $15.25, based on an average from a large number of exchanges, with a total cap of almost $1.6 billion.
Compared to Ethereum, Ethereum Classic is not that popular and is the 18th largest coin with a market cap of $1.5 billion.