In a notice on the 29th of November, Coinbase, the largest US-based crypto exchange, stated that the wallet will no longer support Bitcoin Cash (BCH), XRP, Ethereum Classic (ETC), Stellar Lumens (XLM) as well as their networks.

According to the top crypto exchange, it decided to stop supporting these assets due to “low usage” and this decision will be effective from December 5, 2022.

“This does not mean your assets will be lost,” said the announcement. “Any unsupported asset that you hold will still be tied to your address(es) and accessible through your Coinbase Wallet recovery phrase.”

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The post Coinbase Wallet Will Stop Supporting BCH, XRP, ETC, and XLM from Jan. 23. Here’s why appeared first on Times Tabloid.

The new development was announced a few hours ago via Huobi Global’s official Twitter handle. This free trading is introduced by the exchange to encourage the adoption of the newly launched USDD trading pairs.

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According to the report, the 12 assets paired with USDD include Cardano (ADA), XRP, Terra Classic (LUNC), Dogecoin (DOGE), Solana (SOL), EOS (EOS), Polkadot (DOT), NEAR Protocol (NEAR), Ethereum Classic (ETC), Filecoin (FIL), and ApeCoin (APE).

The report added that the zero-fee trading for the pairs listed above will last till December 31, 2022. This implies that users have less than two months to benefit from this opportunity.

HUGE NEWS!

𝟎 𝐅𝐄𝐄 #USDD Trading Pairs @HuobiGlobal Now Will Include:$ADA $APE $DOGE $DOT $EOS $ETC $FIL $LUNC $MATIC $NEAR $SOL $XRP

Hurry, only till Dec 31st

— Huobi (@HuobiGlobal) November 7, 2022

The detailed arrangement as seen in the blog post captioned in the announcement is as follows:

1. ADA/USDD [open pair at 07:00（UTC) November 8th, 2022].
2. APE/USDD [open pair at 07:00（UTC) November 8th, 2022].
3. DOGE/USDD [open pair at 07:00（UTC) November 8th, 2022].
4. DOT/USDD [open pair at 08:00（UTC) November 8th, 2022].
5. EOS/USDD [open pair at 08:00（UTC) November 8th, 2022].
6. ETC/USDD [open pair at 08:00（UTC) November 8th, 2022].
7. FIL/USDD [open pair at 09:00（UTC) November 8th, 2022].
8. LUNC/USDD [open pair at 09:00（UTC) November 8th, 2022].
9. MATIC/USDD [open pair at 09:00（UTC) November 8th, 2022].
10. NEAR/USDD [open pair at 10:00（UTC) November 8th, 2022].
11. SOL/USDD [open pair at 10:00（UTC) November 8th, 2022].
12. XRP/USDD [open pair at 10:00（UTC) November 8th, 2022].
    

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It can be recalled that ETC started the notable surge from $26 to a peak of $48.50. According to Grayscale, the renewed interest in Ethereum Classic (ETC) was likely initiated by speculation that the Ethereum merge expected to play out later this year may cause miners to move their hash power to the ETC network.

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A few days ago, it was announced that the merge to proof-of-stake (PoS) consensus mechanism has successfully occurred. This implies that the team may do the same on the mainnet before the end of the year.

The much-anticipated development is expected to disable Ethereum miners from earning block rewards with their existing setups and will need to find somewhere to contribute their processing power.

Currently, Ethereum Classic network is likely the first candidate for ETH miners because Ethereum Classic network has a long-term commitment to Proof of Work (PoW) and is a fork of Ethereum with very similar code.

Impact of miners on a PoW network, such as Bitcoin, Ethereum, and Ethereum Classic, can be observed through changes in hash rate, the average computational power used to secure the network per second.

There will be an increase in hash rate when more miners are mining on the network and decreases when they leave.

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Grayscale noted that since the merge testnet launch was announced, the ETC hash rate has increased slightly by relatively 1% from 15th March to 22nd March 2022, which indicates that Ethereum miners have not started migrating in numbers to the ETC network yet. However, it’s expected to play out later, due to the fact that the hash power from the Ethereum network has to relocate somewhere.

Grayscale believes that the migration of Ethereum miners to the ETC network will certainly boost its hash rate, which also represents greater network security and may lead to more confidence in the network.

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