Coinbase began accepting Ethereum classic deposits, buying limit increased to $25,000

According to foreign media reports on August 7, this is a tough week for most cryptocurrency investors, because the world’s largest stock exchange operator, the groundbreaking news of the launch of the bitcoin market failed to translate into a bullish price Trend. However, this week is much better for Ethereum classic supporters.

Coinbase Pro begins accepting Ethereum classic deposits

In the past two days, the Ethereum Classic has been included in two of the most famous cryptocurrency trading platforms.

Yesterday, the Ethereum Classic became the sixth cryptocurrency listed on the stock trading application Robinhood, and its cryptocurrency service is now available in 19 US states.

Earlier today, the Ethereum classic marked another milestone as industry giant Coinbase began accepting ETC deposits from its order book cryptocurrency exchange Coinbase Pro (formerly GDAX), trading against US dollars and other encrypted trading pairs this week. Start later.

Although the Ethereum Classic has not yet provided services at the company’s eponymous broker, once the market stabilizes on the Coinbase Pro, it will be included.

These two announcements have stimulated a sharp rise in ETC prices. In the past week, the Ethereum classic value has risen by more than 11% relative to the value of the US dollar, making it not only the best performer in the market value of the market value of more than 1 billion US dollars, but also the only one in this period can see Large cryptocurrency with rising prices.

As of now, the Ethereine classic global average transaction price is 18.59 US dollars, accounting for 1.9 billion US dollars market value, and become the 12th largest cryptocurrency.

Coinbase increases daily buy limit and cancels 5 day waiting period

Also on Tuesday, Coinbase made several improvements to its brokerage platform. First, the company raised the default daily purchase limit for Coinbase users to $25,000, a seven-fold increase over the previous ceiling and removed the trading restrictions on wire transfers.

Perhaps more importantly, Coinbase now allows users to start trading cryptocurrencies immediately after purchase. Previously, users had to wait for a bank transfer to receive funds, a process that could take up to 5 business days. Now, users will be able to trade these funds immediately, but they will not be able to transfer them to an external wallet until the bank transfer is cleared.

The latter update is particularly compelling because it aligns Coinbase’s settlement policy with its major cryptocurrency brokerage rivals Robinhood, Circle Invest and Square’s cash application, all of which are traded immediately after purchase.

Asiff Hirji, Coinbase president and chief operating officer, praised the move as a “meaningful improvement” for corporate customers.

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