Coinbase has announced their intent to add support for Ethereum Classic (ETC). Coinbase said it will now beging the work necessary to support ETC. The news helped to drive the price of ETC higher as traders may expect greater liquidity of ETC in the coming months. The Coinbase Index will be rebalanced to include ETH.
Ethereum Classic is a fork of Ethereum. ETC came about due to a community disagreement pertaining to the DAO fork following a theft of Ether from the security offering. Individuals that were against the fork, due to immutability, caused the riff that created the Classic version. ETH holders before the DAO hack received an equal number of ETC crypto.
Coinbase said that customers who previously had an Ethereum Classic balance as a result of the 2016 hard fork and did not elect to withdraw their funds prior to January 2017 will receive a corresponding Ethereum Classic credit.
Additionally, Coinbase said ETH will be listed on Coinbase Pro / Prime and then a decision will be made whether to list on the main platform after management evaluates initial trading.
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