Mobile application for trading in cryptocurrencies with zero commission fees has added a support for Ethereum Classic (ETC/USD).
You can now invest in Ethereum Classic on Robinhood Crypto, commission-free. https://t.co/PAidMUpbYq
— Robinhood (@RobinhoodApp) August 6, 2018
The platform earlier listed Litecoin (LTC/USD), Bitcoin Cash (Bitcoin.Cash) and Dogecoin. Before that, users could only trade in Bitcoin (Bitcoin) and Ethereum (ETH/USD). The service also allows you to track 10 other cryptocurrencies. Robinhood operates in 19 n states and plans to expand its activities to other administrative and political units of the United States, as well as other countries. According to the company's management, Robinhood is going to become the largest crypto exchange in the world.
Robinhood also stated their intention to obtain a banking license, becoming one of the first and few fintech start-ups that provide private banking services, offering clients opening and servicing savings accounts.
Today Ethereum Classic has also made its entrance to Coinbase cryptocurrency exchange. The American-based platform has announced that the last preparations will be completed by August 7, and exchange will accept incoming transfers to ETC. Bidding the asset will be available within 24-48 hours after that. ETC support will also be added to the Coinbase Custody service, intended for the storage of cryptocurrency assets, Coinbase Prime, targeting institutional investors, the Coinbase index and other services of the company. Access to ETC will be provided to all Coinbase customers in the regions served by the company.
WHY IS IT IMPORTANT?
1. Reacting to the news, the price of ETC (ETC/USD) came close to a three-month high, despite the overall market fall. Ethereum Classic is currently trading for $19.04 showing 10,20% grows in the last 24 hours.
2. The growth of the coin value, which is conditioned solely by external factors, rather than by a fundamental change in the supply-demand ratio, may appear short-termed.