Cryptocurrency exchanges always have to keep meeting market demand. In most cases, this means increasing the number of listed currencies. Huobi, one of China’s largest exchanges, plans to introduce Ethereum Classic trading later today. This is a major boon for all ETC users, to say the least. It is not the first platform to recently add ETC trading either, which is rather interesting.
Huobi is one of the leading Chinese exchanges. Even though they may not generate the volume OKCoin.cn does, they are still an important platform. So far, they focus on three main cryptocurrencies, all of which are trading against the Chinese Yuan. Bitcoin, Litecoin, and Ethereum are all supported as we speak. Adding Ethereum Classic to this small and illustrious list is quite interesting, to say the least.
According to the company statement, ETC trading will go live later today. However, the trading of Ethereum Classic won’t occur until July 13th. Users can deposit funds in anticipation of trading it, though, which is quite interesting.The company feels Ethereum Classic will be a valuable addition to their platform. Considering how so very few currencies are traded there, that is a very bold decision.
Moreover, Ethereum Classic is the only original Ethereum blockchain in existence. It is also the only immutable version of that blockchain. Many people tend to forget this important aspect, for some reason. Providing an untampered history free from external interference is of the utmost importance. Based on that aspect alone, Ethereum Classic should be valued higher than Ethereum is right now. For some reason, things have worked out quite differently.
A few other exchanges have recently enabled ETC trading as well. It is evident there is a global demand for Ethereum Classic right now. Whether or not this is due to the ongoing Ethereum network issues, remains to be seen. It will be interesting to see what effect the Huobi listing will have on the price. It is obvious Ethereum Classic is undervalued, considering it has the same technology as Ethereum. More importantly, it is also immutable, whereas Ethereum isn’t.