Coinbase is adding Ethereum Classic to its exchange

Coinbase, the largest U.S.-based cryptocurrency exchange, will add Ethereum Classic (ETC) to its platform over the next few months. The company, which previously supported only Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, confirmed the move in a statement to Mashable. Ethereum Classic is a decentralized smart contract platform that split from Ethereum in July 2016 after a disagreement over reversing the DAO hack, where $50 million worth of ether was stolen. The addition of ETC to Coinbase will increase its visibility, as the exchange’s support often drives adoption. Ethereum Classic maintains its original blockchain history, unlike Ethereum, which reversed the hack. Coinbase’s decision follows its recent announcement of expanding support for ERC20 tokens and Bitcoin forks, though no specific timeline for other assets was provided. ETC’s price spiked sharply after the announcement, rising from $12.9 to $16.15 in under an hour before stabilizing at $15.8. Its market capitalization now stands at $1.61 billion, ranking it as the 18th largest cryptocurrency by market cap according to CoinMarketCap. The exchange has stated it will announce future asset additions well in advance of their launch, as it did with ETC. Coinbase’s move comes amid broader efforts to diversify its offerings beyond major cryptocurrencies. The exchange has signaled plans to include more assets within the ERC20 token category and Bitcoin forks, though no additional details were given. Ethereum Classic’s inclusion marks a significant step for the lesser-known blockchain, potentially attracting more users and developers.