Adding Ethereum Classic Support to Coinbase
What's the Story?
- Coinbase added Ethereum Classic to their trading products
- The asset will be listed in the coming months
- Ethereum Classic will be available on all of Coinbase's products
Why Does This Matter?
In some ways, I am surprised by this news. In other ways, this seems like the next logical product for Coinbase to add. Ripple was a long shot leaving Ethereum Classic as the next viable token. Coinbase previously supported withdrawals for ETC when it forked from Ethereum. Many people on Twitter seemed to be annoyed by this listing. It's hard to judge Twitter sentiment because you can't distinguish the legitimate accounts from the bot accounts. What I will say is that Coinbase is a business for making money. Plain and simple. Coinbase chose to list ETC because they felt it would be a profitable product. I'm very skeptical when people think that Coinbase is ideologically driven. The CEO of Coinbase is pro-Ethereum, so you'd think he is anti-ETC, but yet Coinbase is still launching it. I expect ERC-20 tokens to start being listed next based on the blog post above. If I had to guess, 0x would be the next token listed.