Ethereum Classic Spikes 25% on Coinbase Listing News

The price of ethereum classic, the cryptocurrency that was forked off the ethereum blockchain in July 2016, surged by 25 percent on Tuesday, following the news that it is being added to Coinbase’s trading options.

The U.S. cryptocurrency exchange announced on Tuesday morning in a blog post that it is has started the engineering work to integrate ethereum classic with its platform and expects the service to be live in the “coming months.”

Data from CoinMarketCap shows that the price of ethereum classic started to jump around 01:30 UTC on Tuesday, after Coinbase first tweeted out the announcement at 01:18. It later surged as high as $16.15 at around 2:00 UTC, reflecting a 25 percent gain in just half an hour.

The news comes soon after Coinbase reiterated in March that it had not made any decisions on adding new assets, following a similar note made in January.

Data from CoinMarketCap shows that the price of ethereum classic started to jump around 01:30 UTC on Tuesday, after Coinbase first tweeted out the announcement at 01:18. It later surged as high as $16.15 at around 2:00 UTC, reflecting a 25 percent gain in just half an hour.