Ethereum Classic [ETC] now supported by Coinbase Wallet

Coinbase, the cryptocurrency exchange headquartered in San Francisco, announced that their Coinbase Wallet now supports Ethereum Classic. It will now support ETH, ETC, and “all of the 100,000+ ERC20 tokens on the Ethereum blockchain”. The update scheduled in the next few days, will allow users to view, send, and receive ETC on their Wallet.

The Coinbase blog stated:

“For existing Coinbase Wallet users — your ETC address will be the same as your current Ethereum (ETH) address, so any ETC you have sent to your Coinbase Wallet ETH address in the past will now show up after the update.”

Coinbase Wallet’s mission is “to be the easiest and most trusted crypto wallet, we plan to add support for even more blockchains in the future”.

Ethereum Classic has a market capitalization of $450.5M, and a 24 hour trading volume of $164.28M. It is trading at $4.32, with a circulating supply of 106,343,805 ETC, according to CoinMarketCap.

Steven Carrejo, @s_carrejo1, tweeted:

“They’re sadly trying to pump ETC. A coin with no use case..”

Another Twitterati, Jason Elliott, @OnWindowly, said:

“Please support Bitcoin SV as well!”

Ethereum Classic is a hard fork from Ethereum, following a hacker exploiting a DAO [Decentralized Autonomous Organization], which is a complex smart contract. The hacker, in June of 2016, managed to get $50M into a child DAO, but this couldn’t be accessed for 28 days. In this time interval, Ethereum price went down in half and Ethereum hard forked into ETH and ETC, even though this hack was because of incorrect DAO implementation and not the Ethereum platform itself.

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