BTCC’s Bold Move: Embracing Ethereum Classic in Bitcoin Exchange

BTCC: A New Era of Exchange

BTCC, a titan in the crypto world, has made waves in the market with the launch of its new USD-to-Bitcoin exchange. In a surprising twist, the exchange has chosen to throw its weight behind Ethereum Classic instead of Ethereum (ETH). Talk about a plot twist! This decision comes right on the heels of Ethereum’s dramatic hard fork on July 26, aimed at shielding investors from the infamous DAO attack.

The Birth of Ethereum Classic

Following Ethereum’s hard fork, investors faced a crucial decision—should they stick with the newly modified Ethereum or revert to the original governance model? Enter Ethereum Classic (ETC), which maintained the essence of Ethereum’s original philosophy, attracting supporters who resonate with its principles. BTCC’s preference for ETC is noteworthy, especially given the growing support for both Ethereum versions by major exchanges like Kraken and Bitfinex.

BTCC’s Twitter Response

Social media has become a battlefield of opinions, with users eagerly voicing their support or skepticism. In a recent tweet, BTCC cheekily responded to a user’s request for Ethereum support, simplifying their stance with,

“Classic :-)”

—a cool digital nod to Ethereum Classic. Clearly, BTCC isn’t shy about its priorities.

BTCC’s Dominance in the Market

BTCC is not just any exchange; it commands a staggering 50% of all Bitcoin-to-CNY trades happening in China. On average, the exchange processes around 1.8 million Bitcoins daily, equating to an impressive $1.3 billion. When you do the math on China’s total daily volume of 3.41 million Bitcoins, BTCC’s contribution of at least 52.7% shines a light on its dominance.

The Ripple Effect on Ethereum Classic

With BTCC’s significant influence over global Bitcoin trading, their endorsement of Ethereum Classic could send shockwaves through the market. As the fifth most valuable cryptocurrency, trailing only behind titans like Bitcoin and Ethereum, the increased trading volumes and potential exposure could elevate ETC to new heights. Samson Mow, BTCC’s COO, has been a vocal advocate for Ethereum Classic, attending meetups and hinting at the possibility of launching an ETC mining pool. If those meetings were anything like a high school pep rally, you can bet there was some serious enthusiasm buzzing in the air!