eToro adds Ethereum Classic to tradable porftolio
It looks like the Israeli forex broker and social trading platform developer eToro is on a roll when it comes to cryptocurrencies and tradable instruments with them. Within a week, the broker has announced the launch of a bitcoin wallet for its clients and a investment CopyFund products with the cryptocurrencies Bitcoin and Ethereum.
Now it seems eToro has also added the Ethereum Classic (ETC) cryptocurrency to its portfolio of tradable assets, judging by the listing in the broker’s platform. At the time of writing this article, the ETC was trading against the USD for around $17.4.
The ETC is the latest addition to the digital currency portfolio of eToro, which also features Bitcoin, Ethereum, Dash and Litecoin.
Despite being relatively cheap, in comparison with the more popular Ethereum cryptocurrency, which trades for $267, the ETC has become the fifth-largest digital currency by market capitalization, with nearly $1.6 billion.
Ethereum Classic appeared after last year’s “hard fork”, i.e. the resetting of the ethereum’s Distributed Autonomous Organization (DAO) to a previous date. It resulted in the creation of a new version of the network with different rules. The hard fork was deemed the only suitable solution after a hacker broke into the DAO last June and stole Ethers worth $50 million by today’s exchange rates. He said he simply exploited a technical loophole in the DAO. The proposed hard fork was met with resistance by some in the cryptocurrency community, but its proponents argued it is the only viable option to improve the security of the DAO and make sure there are no new flaws in the system.
The opponents of the hard fork, however, remained on the old blockchain, creating the Ethereum Classic token.