Having Ethereum Classic (ETC) announced for the listing on Coinbase was perhaps one of the most integral news for ETC in the current year by mid-June, when the news about the listing originally came out.
The importance of the listing was immediately mirrored in the sudden rise of ETC value in the market, having the currency jump from the price of 11$ to 16$ in a prompt bull run.
However, while many crypto enthusiasts consider that Coinbase has pushed Ethereum Classic against the fiat with the announcement, it is perhaps the case that one of the most popular and biggest exchange markets has only indicated the success of the 15th largest crypto at the moment.
Ethereum Classic: How Coinbase Saw a Potential in Ethereum’s Fork
Getting listed on Coinbase is probably what every CEO and dev team wishes for their digital asset Coinbase makes up for one of the largest exchange markets and is widely known by its authority in the crypto community.
Given the fact that Coinbase has a strict policy on the matter of accepting coins to their list of live trading currencies, not any digital asset can be accepted to the platform, which additionally provides this exchange with more integrity and importance to the crypto community.
Even though it is generally considered that Coinbase has pushed the adoption of Ethereum Classic (ETC), as well as set it on the market bull run with the listing announcement that came out in mid-June, it might actually be the case that Coinbase was actually able to recognize the potential that ETC has, that way indicating the rise of the asset.
Coinbase exchange has a fairly strict listing policy, where the exchange is not only considering the popularity of a certain asset or the price and market capitalization but is also taking into consideration the use cases and adoption potential that one cryptocurrency should have in order to get listed on Coinbase.
That means that Coinbase actually indicated the rise of Ethereum Classic, being aware of its potential after a careful review. The exchange is always exposing the new listing candidates to a series of tests that need to have a positive outcome in order for the listing to be officially confirmed, so having a coin listed on Coinbase makes up for a form of success by itself in the way.
It also seems that the Coinbase announcement regarding the ETC listing also encouraged the dev team behind the ETH hard fork as Ethereum Classic switched focused of their potential to the Internet of Things, that way entering the IoT race.
Soon after the listing, the community was able to see changes in the roadmap which included the announcement made by the ETC dev team that they will be building a side chain in order to set up the network for IoT use cases, which should give a more concrete purpose to the asset in the following months.
Moreover, Ethereum Classic is encouraging the community to join the Ethereum Classic Labs, the blockchain incubator launched way back before the Coinbase listing, that way promoting Dapp creation with Ethereum Classic.
Ethereum Classic (ETC) Sees an Increased Interest from Financial Firms
As the ETC team is looking forward to the annual summit in Seoul, South Korea, where they will be discussing the IoT and Dapp development plans in detail, it seems that ETC started to draw interest from financial firms.
On August 28th, Kingdom Trust stated that they are releasing Lloyds of London custody insurance for digital assets, making Ethereum Classic (ETC) one of the assets on the list alongside with Ethereum and Bitcoin, while the Canadian financial company, Balance, announced on August 30th that they will be providing high-security custody for Ethereum Classic along with 7 other digital assets.
Thanks to the increased interest in ETC, the crypto turned out to be one of the top gaining coins of the previous week, leading the market in a rebound attempt while we can see it going up on September 10th by over 2% in the course of 24 hours.
In the meantime, Ethereum Classic is pushing the adoption of ETC, confirming the trust of Coinbase exchange by showcasing potential in several areas, one of them being Dapp development.
In one of their latest announcements on Twitter, ETC representatives stated that they are providing 100,000 to 500,000 in funds with ETC Labs for accelerating various blockchain projects, also providing office space in San Francisco, mentorship, industry guidance, a professional network, and the priceless investor exposure.
Ethereum Classic is clearly showing that ETC is more than “just” a pump and dump fork as indicated by Coinbase months back.