New announcement by Coinbase has brought significant changes, one of them being the exchange’s decision to open up to Ethereum Classic deposits, while the other one will move the daily buy limit to a new default of $25,000.
A lot of investors from all over the world were left disappointed after the news of a new Bitcoin market being announced came, and the BTC price failed to reflect its significance. When many were expecting a new bull run, all they got was return to the market’s bearish nature, following the SEC decision delay.
With Bitcoin’s price drop, the almost entire crypto market has gone to red once again. However, not all coins followed, and while the entire market dropped once more, Ethereum Classic seems to have had the best week ever.
Coinbase says yes to ETC deposits
The last few days have been among the most important ones in ETC history, as it joined the most prominent crypto trading platform in the world. As of only a few days ago, ETC officially became the sixth crypto that is being offered on a popular trading app, Robinhood.
Not only that, but Coinbase announced that it will start accepting Ethereum Classic deposits on its Coinbase Pro platform. Obviously, ETC has been doing rather well, and this would have been an amazing few days for this coin even if the rest of the market wasn’t struggling. The fact that it flourishes while all other cryptos are going down makes this an even more important achievement.
Following last week’s update about the final stage of testing for Ethereum Classic (ETC), we are now accepting inbound transfers of ETC on @CoinbasePro. Full launch schedule here: https://t.co/SRPufCbvbm
— Coinbase (@coinbase) August 7, 2018
According to Coinbase’s announcement, ETC is still not officially available. However, it will join Coinbase Pro as soon as the market drop has ended, and cryptos regain at least some levels of stability. Considering that most cryptos are currently in the green once more, this might happen sooner than anyone has expected.
However, ETC has proven that it is mostly unaffected by the recent price surges and drops, and it managed to remain in the green while the other coins did not.
Coinbase’s daily buy limit increased
Another big news regarding Coinbase is the announcement that said that the exchange will change the daily buy limit. The announcement came on Tuesday when Coinbase also took the opportunity to announce various improvements regarding its platform.
The announcement stated that the daily buy limit’s new default is $25,000. Not only that, but the exchange also stated that it will eliminate sell and buy limits for the wire transfers completely. Before this, users were forced to wait for their bank transfers to properly settle own, and only then would they be able to get to their money.
However, with these changes, users can use their money for trading immediately. Of course, transferring the money to external wallets will still require them to wait on the transfer clearance, but the changes will definitely make an impact on the process in general.
