Ethereum Classic (ETC) is a favorite among crypto traders, especially on signs of a potential major breakout. In fact, some believe it could run to $20 on news of its addition to Coinbase’s platform in “coming months.”
“We are pleased to announce our intention to add support to Ethereum Classic (ETC) on Coinbase in coming months,” read a June 11, 2018 tweet.
However, analysts believe ETC’s integration may happen sooner than expected.
“Coinbase said something to the effect that integrating Ethereum Classic has been quite easy, since it is very similar to Ethereum. This can be interpreted to mean that the integration of Ethereum Classic is already complete. Rumor has it that this could be as early as next week. If this turns out to be true, then Ethereum Classic could be headed to the moon in a few days,” notes Crypto Globalist.
While the actual date ETC will start trading remains uncertain, it’s likely to generate serious buzz for the coin. Just the initial announcement that ETC was joining the limited list of assets Coinbase offers sent the coin up 25% in minutes.
A Potential Boost from Institutional Investors
Coinbase is now offering Coinbase Custody, a new storage service for institutional investors. According to the platform’s recent tweet, “Coinbase Custody is now open for business, providing secure storage of crypto assets for institutions in both the US and Europe. Before the end of the year, we hoped to bring this offering to Asia as well.”
Billionaire investors like Mike Novogratz believe that once institutional investors begin to commit, a “Fear of Missing Out” will trigger. That could then lead the next mid-term rally of digital assets, notes Crypto Slate.
“There are many investors where custody is the last barrier. Over the next year, the market will realize that safekeeping is a solved problem. This will release a large capital wave,” noted Mutlicoin Capital.
Also, consider this. With five coins being receiving Coinbase support, including ETC, each will likely benefit from the bulk of institutional interest.
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