Ethereum Classic Makes Its Way Onto Chinese Exchange Huobi
Due to popular demand another major exchange is listing Ethereum Classic, giving Chinese traders more access to the market via ETC/fiat pairs. If trends are to be followed - more exchanges will follow suit.
Due to popular demand, another major exchange is listing Ethereum Classic, giving Chinese traders more access to the market via ETC/fiat pairs. If trends are to be followed - more exchanges will follow suit.
Huobi shared somewhat of a surprise announcement to traders that Ethereum Classic will begin trading on July 13 at 12:00 GMT +8 and ETC deposits will begin 24 hours earlier on July 12.
The exchange is giving traders who deposit early incentives such as bonuses for deposit volumes and trading volumes.
Ethereum Classic was selected due to popular demand based on a vote circulated by the exchange to local traders. Other notable picks that make up the the selection given to traders include Waves, PIVX, Decred and Golem. Notably, ETC was chosen above the substantially larger market cap XRP.
Huobi is responsible for over $50 mln per day in Ethereum, although a different currency, indicatively this number is important for understanding the sort of volumes that can be added to daily liquidity.
Chinese love story
Far East exchanges have been quick to add Ethereum in succession, boosting the trading volume of the currency along with the value.
Major Chinese exchanges offering ETC/CNY pairs are CHBTC, Jubi and Yuanbao. A notable addition was BTCC, as a crypto to crypto exchange, where ETC was also selected- this time via a Twitter poll made public by CEO Bobby Lee. The listing as reported by Cointelegraph made waves listing ETC before ETH.
However, some rumors proved to be untrue in the run up to listing the currency, as was the case for Okcoin.
If trends are to be followed ETC will soon list on more Asian exchanges - notably in South Korea and Japan. Despite being somewhat in the shadow of ETH since the fork, more access to trading and a more promising developer environment is a good sign for traders of the currency.