Twitter Reacts to Coinbase’s Surprise Ethereum Classic News

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Some members of the crypto community were surprised Tuesday when the U.S.-based exchange startup Coinbase announced that it plans to list ethereum classic (ETC).

ETC traces its origins back to 2016 and the collapse of the DAO, the ethereum-based, smart contract-powered funding vehicle that fell apart following a debilitating code exploit. The network is known by some as “a continuation of the original ethereum blockchain” following a hard fork that reversed the losses stemming from the DAO.

As of the time of writing, ethereum classic is the eighteenth largest cryptocurrency by market capitalization – more than $1.5 billion – according to data from CoinMarketCap, which tracks price developments in the market.

A scan of reactions on Twitter suggests that a number of market observers were taken aback by the listing announcement, which sparked a 25 percent price increase following the revelation.

In one case, the response was pretty blunt:

This observer took criticism to the next level, suggesting that the listing had more to do with spurring user activity than anything specifically to do with ETC.

Ripple effect?

Amidst the social conversation, some tried to draw a connection between the ETC listing and the fact that, to date, the exchange hasn’t added support for the cryptocurrency XRP. Back in April, Bloomberg(https://www.bloomberg.com/news/articles/2018-04-04/ripple-is-said-to-struggle-to-buy-u-s-listing-for-popular-coin) reported that distributed ledger startup Ripple tried unsuccessfully to get the token listed on Coinbase.

On the other hand, those supportive of the token and Ripple’s efforts struck optimistic tones as the story spread.

Glass half-full

While much of the discussion today centered around what the listing might mean for ETC in the long-term, others rode the social waves by taking a more humorous approach to their commentary.

For example, several observers tied the development to this week’s summit between U.S. president Donald Trump and North Korean dictator Kim Jong-un.

Still, a (small) portion of people in the crypto community decided to stay positive after the announcement.

Image via Shutterstock

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