Ethereum Classic is performing against the grain today. This morning, as the rest of the markets embark on a steep fall, Ethereum Classic has taken on its own change in direction, making positive gains through the day. Granted, these gains are only minor in the grand scheme of things, but considering how steep the rest of the markets are falling, we should pay attention to what Ethereum Classic is doing right now. At the very least, it has certainly broken off from the bears grip, thats for sure.
At the time of writing, Ethereum Classic is valued at $17.55, up 2.68%. This climb is marginal, but compared to its neighbours, Ethereum Classic is making stunning upwards progress. At the time of writing Dash is down 4.35%, NEM is down 5.20%, TRON is down 7.42% and VeChain is down 8.44%. As you can see, nearby cryptocurrencies are falling, Ethereum Classic however, is not.
We have done a little bit of research and can’t see why Ethereum Classic is moving in this direction. With the overall market so down, it is pretty rare to see currency like Ethereum Classic perform in this way. As a result, we expect that this is simply down to the hype and speculation surrounding Ethereum Classics Coinbase listing.
Whilst it is now confirmed by Coinbase that Ethereum Classic will be listed, we are still unsure when the listing will go live. We do expect that during July, Coinbase will make an announcement regarding a date and time for the listing and moreover, we also expect the listing to go live in July. As a matter of fact, Coinbase are unlikely to give us a lot of notice, therefore we expect it to happen very quickly.
The listing on Coinbase for Ethereum Classic will invite some mainstream and institutional interest and therefore, we should expect this to have a very big impact on the value of the currency. For now, speculation and anticipation seems to be continuing to drive the value of Ethereum Classic up.
Please remember that whilst the listing is going ahead, this is not investment advice. Ethereum Classic is exposed to volatility to any investment decisions need to be comprehensive and well thought out. Add Ethereum Classic to your watch list because indeed, this is one to keep your eyes on.