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Cryptocurrency exchange CHBTC announces support for Ethereum Classic

CHBTC, China’s biggest ETH exchange, on Monday announced its support for Ethereum Classic, in response to the increasing demand for online ETC transactions.

Last week, however, CHBTC stated that it will not support ETC, in line with other mainstream cryptocurrency exchange Coinbase. In today’s announcement, the exchange stated that it is neutral as a trading platform for ETC, and does not judge the level of ethics and values. However, CHBTC has also outlined various risks that users will be exposed to with ETC including network instability and price fluctuation among others.

Ethereum Classic has been gradually gaining acceptance with several exchanges such as Poloniex, Kraken, Bittrex, Yunbi, and now CHBTC announcing their support. Mining pool including Minergate and BW.com have also added ETC support.

Following Poloniex’s decision to support ETC, cryptocurrency enthusiast Chandler Guo announced a 51% attack on Ethereum Classic. However, with more and more exchanges launching ETC trading, he has decided to move his 120GH/s to Ethereum Classic for protecting that chain from any 51% attack.


 

By Shampa Mani
  • Market Data
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