Bitpanda Prepared for Ethereum Classic (ETC) Launch

The Ethereum-branched asset is one of the most widely distributed coins, although most of its value was wiped out by recent sell-offs.

The Bitpanda platform will expand its portfolio with the launch of Ethereum Classic (ETC) exchanges. The asset will be available from December 4:

ETC has been attractive for remaining relatively liquid during the latest sell-off, as well as for its large community of supporters. ETC is also a coin that still allows mining. However, as the price of digital assets slid across the board, ETC kept dropping in price.

ETC is now down to $4.28. It lost another 25% of its value in the past week, as the downward trend once again exacerbated. ETC altered its trading profile in the past months as Korean Won trading was replaced largely with Tether (USDT) pairs on Asian exchanges. More than 48% of all trading is in the ETC/USDT pairs, making the asset exposed to the unique risk of the stablecoin.

For ETC, the Coinbase listing has not helped to preserve the price positions, as ETC did not manage to generate robust enough buying interest. The slide in ETC prices has been steep in the past few days.

However, the Bitpanda listing may allow for an accumulation of new investors in expectation of the next wave of the crypto markets. Bitpanda continues to offer the option for small-scale purchases through various deposit mechanisms, including vouchers available through Austrian kiosks. The Bidpanda portfolio added NEO a few days ago, listing the asset just as its price fell further still, down to $6.98.

The ETC digital asset may soon be available through the Vertpig service as well, thus enabling a limited way to buy several digital assets for cash. Vertpig is directed to UK-based buyers.

Reading now