Share this article
Ethereum Classic Spikes 25% on Coinbase Listing News
The price of ethereum classic surged by 25% in half an hour on Tuesday, following the news that it is being added to Coinbase's trading options.
By Wolfie Zhao
Updated Sep 13, 2021, 8:02 a.m. Published Jun 12, 2018, 3:15 a.m.
Make us preferred on Google
The price of ethereum classic, the cryptocurrency that was forked off the ethereum blockchain in July 2016, surged by 25 percent on Tuesday, following the news that it is being added to Coinbase's trading options.
The U.S. cryptocurrency exchange announced on Tuesday morning in a blog post that it is has started the engineering work to integrate ethereum classic with its platform and expects the service to be live in the "coming months."
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Data from CoinMarketCap shows that the price of ethereum classic started to jump around 01:30 UTC on Tuesday, after Coinbase first tweeted out the announcement at 01:18. It later surged as high as $16.15 at around 2:00 UTC, reflecting a 25 percent gain in just half an hour.
The news comes soon after Coinbase reiterated in March that it had not made any decisions on adding new assets, following a similar note made in January.
"The internal asset selection committee has been assessing assets using our Digital Asset Framework, but no assets have been recommended to the Coinbase executive team," the company said at the time. Coinbase has not yet explained what has led to the change of the thinking of its asset selection committee that led to the support for ethereum classic.
Also notably, the decision to add ethereum classic arrives after some in the industry had questioned Coinbase's asset selection process as "random, if not altogether dubious."
As previously reported by CoinDesk, the reason for such comments partially stemmed from the fact that Coinbase added support for bitcoin cash, just months after the cryptocurrency was created out of a hard fork from the bitcoin blockchain. However, at that time, the firm had not embraced ethereum classic a year after the cryptocurrency was hard forked off the ethereum network.
Coinbase image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
