In the apparent stability of the last few hours, after a double-digit drop for the crypto market since last Sunday, Ethereum Classic (ETC) experienced a strong revaluation, driven both by the removal of the difficulty for miners and by the announcements made yesterday regarding an upcoming Coinbase listing and new ETC trading pairs on Binance. These factors led to a 21.44% boost in the last 24 hours, at the moment of this writing.
While the market as a whole is showing an over 11% loss since Saturday night to reach a total value of about $293 billion, as of this writing, Ethereum Classic (ETC) presents a 21.44% increase in the last 24 hours. The crypto is currently trading at $15.25.
ETC followed a downward trend on Sunday but the announcements made yesterday by Coinbase and Binance were enough for Ethereum Classic (ETC) to boost significantly since yesterday.
Ethereum Classic (ETC) to be listed on Coinbase while Binance will add to new ETC trading pairs
Coinbase announced on Monday that it had begun the engineering work necessary to list Ethereum Classic (ETC) and that at the end of the final testing phase of the technical integration, it will announce the launch of ETC on the platform, a process that is expected to take several months.
Binance, for its part, announced that starting from today, Tuesday, at 2:00 am GMT is offering ETC/USD and ETC/BNB trading pairs. The cryptocurrency exchange platform listed Ethereum Classic (ETC) only eight months ago and provided the ETC/BTC and ETC/ETH trading pairs.
ETC is not the only one to have resurfaced noticeably when the market appears to be sidelined after a sharp downturn. LoomNetwork (LOOM) exhibits a higher level of recovery than ETC, with about 33% increase in the last 24 hours.
Today, LoomNetwork has released the public beta of the Loom SDK (the Software Development Kit), promised two months ago, which seemed to be behind LOOM crypto’s rise. LoomNetwork works as a layer over Ethereum (ETH) network.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.