Crypto

Major Exchanges Add Support for Ethereum Classic

Joseph Young | July 27, 2016 | 3:30 pm
Ethereum Hard Fork Debate
Crypto

Major Exchanges Add Support for Ethereum Classic

Joseph Young | July 27, 2016 | 3:30 pm

Following the announcement Poloniex on July 23, major digital currency exchanges including Kraken and Bitrex have added support for Ethereum Classic.

Amidst the integration of Ethereum Classic support, Poloniex received both criticism and admiration from the Ethereum community, for going against the norm to support the Ethereum Classic project and its users.

The support of Poloniex and overall optimism displayed by the Ethereum community spurred the growth of Classic chain, reaching a US$165 million market cap and surpassing the daily volume of Ethereum in a matter of hours.

The surging demand and support for Ethereum Classic allured other major exchanges that hold significantly large shares of the cryptocurrency market, to enable the trading of Ethereum Classic.

Kraken

Kraken, one of the most prominent bitcoin exchanges in the cryptocurrency market, announced on July 26, that the Kraken development team will be launching full support for the trading of Ethereum Classic.

“We will be launching full support for Ethereum Classic. Clients holding $ETH at the fork will receive $ETC. More details soon,” Kraken told its users on social media.

On the same day, Kraken completed the integration of Ethereum Classic support, officially launching a live trading platform for the digital asset. However, the Kraken development team told its users that ETC deposits and withdrawals cannot be available yet.

“ETC deposits and withdrawals are unfortunately not available yet. Our current estimate is that ETC funding will be available 24-48 hours after ETC markets open,” the Kraken development team announced in its official blog post.

Bittrex

Bittrex, a Seattle-based crypto trading platform is one of the few exchanges that have announced support for Ethereum Classic. The exchange officially publicized their support for ETC this morning on social media.

“Due to unprecedented demand, $ETC open for trading. Balances at fork have been credited. @BittrexExchange,” said Bittrexx’ Richie Lai.

Coinbase

Coinbase, arguably one of the world’s most popular Bitcoin and Ethereum wallet and trading platform, officially announced on July 26, that the exchange has no intentions to support ETC nor any trading or operations related to the digital asset.

The announcement infuriated the Ethereum community, with Coinbase users demanding the exchange to reimburse their customers’ ETC.

Despite the growing criticism from the Ethereum community, Coinbase is yet to make a comment on the matter. Instead, the exchange reminded its customers not to send ETC to the Coinbase platform.


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