Robinhood Adds Support: Robinhood Financial announced yesterday that it would launch Ethereum Classis (ETC) on its trading platform.
And it was no accident that it listed the coin one day before Coinbase was to add ETC to its exchange; the world’s biggest exchange had announced only a few weeks ago that it was in the final stages of testing and that ETC would be available as of August 7th.
Which is today.
But the announcement did outline that ETC would only be accessible for users with Coinbase Pro and Coinbase Prime accounts and that official trading would not go into effect immediately.
Robinhood Adds Support For Ethereum Classic
It could be mistaken, but it seems the fresher and much smaller Robinhood is trying to beat the big-dog to the punch by introducing ETC trading, a day before its competitor’s, supposed, launch date.
Ethereum Classic will be Robinhood’s sixth crypto offering on its platform.
Robinhood is a newly-launched crypto-trading platform which serves the US. It is expanding on a state-by-state basis and began with only four states earlier in 2018. It now has expanded to 19 states and has a current trading volume of $5.6 billion.
At present, the exchange offers Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dogecoin (DOGE) and now Ethereum Classic (ETC). The platform also tracks market data for 10 other cryptocurrencies which may or may not be added in the months to come
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Ethereum Classic Price Chart
Back in June, when Coinbase went public with its plans to support ETC, the value of Ethereum Classic shot up 23% in less than 24 hours. And it seems Robinhood could be creating a similar buzz. Currently, the coin is seeing a healthy 10% gain and stands at $19.15.
Source: Coinmarketcap – ETC 7-day Price Chart
Or is this because Coinbase is purported to being supporting the coin today? Probably.
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