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The Coinbase Effect: ETC Likely to Run back to $20

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We’ve been waiting quite some time for this, but it’s finally happening. Ethereum Classic (ETC) will be listed on Coinbase at 5pm PST today.

That means ETC will now be available to millions of investors around the world.

After running above $20 in recent weeks, Ethereum Classic (ETC) plummeted to less than $10. Though, the weakness appears short-lived on the latest news.

In fact, ETC could make a run back to $20 shortly on the Coinbase effect.

ETC could Reach $62 in 2018

The most bullish analysts note that ETC could reach $62 this year.

Others believe that once it breaks above prior resistance at $20, it could reach $40. That would also take the coin into the top five coins by market capitalization.

ETC Now on Coinbase and Other Major Trading Platforms

Not only will ETC trade on Coinbase, but it will also trade on the Robinhood app.

Robinhood has been rolling out cryptocurrency trading on a state-by-state basis as it obtains the money transmitter licenses to operate. It’s now operational in 19 states and growing.

The app allows users to buy the supported cryptocurrencies from mobile phones using their credit cards. Because of its easy user interface, Robinhood now has access to four million active users that may avoid the crypto markets due to lack of expertise.

In addition to ETC, Bitcoin (BTC) and Ethereum (ETH), the firm also listed Bitcoin Cash (BCH), Litecoin (LTC), and Dogecoin (DOGE).

Though, it’s not just the Coinbase and Robinhood news that’s attracting interest.

It also just partnered with Zeniex, a South Korean exchange. “This partnership will see ETC penetrate the Asian market under a memorandum of understanding already inked between the two. With the growing popularity of the coin in Asia, breaking even is in sight. Through a tweet availed to us through the ETC twitter handle,” notes Crypto Globalist.

In addition, the UAE Bitcoin and cryptocurrency exchange, BitOasis, said that ETC is available. Users across the UAE, Saudi Arabia, Kuwait, Bahrain, and Oman, can now buy, sell, and trade ETC with 0% transaction fees until late August 2018.

 

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