June 12 market for Ethereum Classic (ETC) literally exploded with positive emotions caused by the message the largest American platform for cryptocurrency trading Coinbase. The crypto currency exchange has notified that there are experiencing the joy that can announce the “intention in the coming months to include support Ethereum Classic on Coinbase”.
The euphoria of this tweet has swept the market: June 12 to the maximum it was possible to observe the growth of ETC to 35% per day, up to $16.3. The bearish mood was inspired by the fact that one of the largest kryptomere Binance world that constantly competes with OKEx for status as the No. 1 trading platform largest trading volume, has announced the launch of additional currency pairs, ETC — with Binance Coin (BNB) and Tether (USDT). This statement and the actual introduction of new currency pairs also occurred on June 12.
Of course, from the point of view of liquidity, the emergence of new currency pairs is a big plus for ETC. The volume of daily trading on aldonu increased from 180 million dollars more than tripled, to $685 million at the beginning of June 13. The growth in trade was gathering momentum, despite the fact that at the beginning of June 13, cryptocurrency ETC swept the next General downward correction of the cryptocurrency market, which “smashed” its total capitalization to $283 billion.
Course ETC has slipped to $14,85, but still a dollar higher than it had been before the rally on June 12. And what is interesting: a detailed study of the document Coinbase on the intention of the crypto currency exchange to provide “support” ETC suggests that the market is clearly someone got a little excited. Please refer to the document published in the Coinbase blog. It provides several options for such “support,” which includes, for example, work on the script “Coinbase Markets”. Under this scenario, the “market team” crypto currency exchange “trading plans to add support for Ethereum Classic”. When this later is explained that “listing on Coinbase Markets does not guarantee listing on Coinbase”. This last phrase, anyway, full of ambiguity.
Meanwhile, ETC, even ambiguity, plus the empowerment of liquidity on Binance used loosely: there are no “x’s”, just a reminder to myself that Aldon still alive. To the historical record for him to climb and to climb, and it is unlikely that anything ordinary can trigger its growth like this, to overcome the fall to 68,91% of the maximum $47,77, which was fixed on 21 December last year. Only if the whole cryptocurrency market will not start, finally, to move steadily upward.
Vladislav Ginko, economist, expert at the Russian public service Academy at the President of the Russian Federation, especially for Coinspot