Ethereum classic is now supported by Robinhood. Ever since its launch, the commission-free trading app, has been making major strides. This announcement was made through the company’s blog site and came a day before Coinbase‘s scheduled date to add the same option to its list. The post that was published on Monday 6, stated that Ethereum was only supported in the 19 states where the Robinhood app was supported for now and was trading live on the app. In the blog post, the company reminded its users that they can also;
Invest in Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Dogecoin, as well as track market data for 10 other cryptocurrencies.
Ethereum classic becomes the 6th cryptocurrency to be supported by the app as the company continues to expand into more states- which it does state by state, due to compliance issues. The company which is valued at around $5.3 billion has seen spontaneous growth since its launch in 2013 and continues to make strides in its growth and development. Recently, it was rumored that it was planning to create its own cryptocurrency wallet after it posted a job offer for crypto engineers. However, nothing has come of this to date.
Ever since the company launched the free commission trading app, the company has remained true to its policy of not applying charges to clients to date, which has largely attracted many users to it. According to the company, it only requires to break even for now and has placed much of its focus on growing its customer base hence the free commission trading model.
Ethereum Classic will most likely be featured in Coinbase’s next annoucement
Coinbase is also expected to announce their support of Ethereum classic on Tuesday 7 following the news that the company was in its final testing phase before supporting it on all its platforms. According to a statement from the company, they were expected to be done with the final testing by August 7, which would be followed by an announcement allowing inbound transfers of ETC through Coinbase Pro and Coinbase Prime before trading commenced.
Given that Coinbase had given the date when they would be making their announcement, it almost seems like Robinhood chose a day before to make their announcement, taking up much of the press away from Coinbase and put itself on the spotlight. I have to say it has worked out perfectly since we can’t talk about Coinbase listing Ethereum Classic without mentioning Robinhood doing the same and vice versa.
Following the announcement, Ethereum classic recorded some major gains in a suffering market, making it one of the best performing cryptocurrencies of the day, the altcoin has managed to climb up by 5% in 24 hours. Given that Coinbase is also expected to make their announcement sometime on Tuesday, Ethereum classic could see even more gains. Currently, the altcoin is ranked 12th and at the time of press it was trading at $18.34 but, we don’t know for how long. Even though a majority of cryptos are in the red zone, this is the one altcoin we can see climbing higher.
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