Coinbase Pro Launches Ethereum Classic Support

News and Analysis

Coinbase Pro announced on Tuesday, August 7, the launch of Ethereum Classic (ETC) on the platform.

The California-based company announced final testing for ETC last Friday with the goal of accepting ETC transfers by today and obviously succeeded in achieving that goal after “testing went according to plan.”

However, initially ETC support is launched on Coinbase Pro, the exchange formerly known as GDAX, with full support on to occur approximately within 1–2 weeks.

David Farmer, General Manager of Coinbase Pro, wrote:

“We are beginning the launch of ETC on our exchange at Coinbase Pro. We plan to add support for ETC at when sufficient liquidity is established. We expect this to occur approximately 1–2 weeks after trading begins on Coinbase Pro.”

The company notes that the launch will proceed in four stages including transfer-only followed by post-only, limit-only, and full-trading support.

ETC transfers officially began at 10am PT on Tuesday, August 7. Users can deposit ETC into their Coinbase Pro accounts but can’t place orders and no orders will be filled on those order books. Order books will be in transfer-only mode for the next 24 to 48 hours.

The next step is to launch the post-only stage, which is when customers can post limit orders but with no matches (completed orders). Order books will be in post-only mode for a minimum of 10 minutes.

Then, there will be limit-only mode. In this third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of 10 minutes.

Finally, Coinbase will launch ETC with full trading support. On this final stage, full trading services will be available, including limit, market, and stop orders.

Coinbase also hinted that similar launches will likely take place in the near future:

“One of the most common requests we receive from customers is to be able to trade more assets on our platform. Ethereum Classic is just a first step in that direction. We announced last month that we are exploring a number of other assets to add to the platform, and customers should expect to see similar announcements when we are exploring new assets to add to the platform,” added David Farmer.

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