02 March, 2024



In January 2023, Coinbase Will No Longer Support BCH, ETC, XLM & XRP

1 year ago

22 Nov, 2023

Coinbase Wallet has tweeted that it will be removing support for several networks with low activity starting in January 2023. These include BCH, ETC, XLM, and XRP. However, users can rest assured that any balances of these assets held in a Coinbase account or the Coinbase mobile app will not be impacted by this change.

Despite this change, Coinbase Wallet has assured its users that it remains committed to providing access to new and exciting features. In the coming months, Coinbase Wallet will continue investing in projects that make web3 more accessible and easy to use for everyone.

They have assured their users that any balances of these assets held in a Coinbase account or the Coinbase mobile app will be unaffected by this change. So if you have any funds on these networks, rest assured that your assets will be safe and secure.

Ethereum Classic (ETC) price

Ethereum Classic is also bullish amid the recent Coinbase news. At the time of writing, ETC is trading at $20.1, which represents a slight decrease of 3% over the past 24 hours.

Source: Tradingview

Technicals are also looking positive for ETC, with many analysts predicting that the coin could continue to see growth in the coming months. As more and more investors become interested in this exciting new project, we can expect ETC’s price to continue rising over time.

The question is whether the news will impact ETH price in 2023, or whether ETH will continue to rise in the long term. While it’s impossible to say for sure, many analysts believe that the fundamentals are still strong and that ETH could outperform other major cryptocurrencies over the next few years.

Stellar (XLM) price

Finally, it’s worth considering the impact of the news on XLM price. At the time of writing, XLM is trading at $0.089, which represents a slight increase of 2% over the past 24 hours.

Source: Tradingview

Despite this small gain, most indicators suggest that XLM is still struggling to regain its former glory. However, with continued development and support from the wider crypto community, we can expect XLM prices to start climbing in the coming months.

So if you’re thinking of investing in XLM, now might be a good time to do so. As long as you keep a close eye on price movements and make well-informed investment decisions, you can expect to see strong returns in the long run.

Ripple (XRP) price

At press time XRP trades at $0.399 with a slight increase in the last 24 hours. It’s still unclear whether the news from Coinbase Wallet will have any impact on XRP price, but many investors remain bullish about this fast-growing digital currency.

Source: Tradingview

So if you’re thinking of investing in XRP, it’s important to do your research and carefully consider the risks involved. As always, remember that past performance is no guarantee of future results, so make sure to manage your investments wisely.

The news from Coinbase Wallet may impact the prices of these cryptocurrencies in the short term. However, with continued development and support from the broader crypto community, we can expect all of these assets to continue performing well in the long run.

Conclusion

Overall, it remains clear that the Coinbase news is likely to have a significant impact on the crypto market in 2023. As more and more investors continue flocking to cryptocurrency, we can expect prices to continue rising in the long term. Whether you’re investing in BCH, ETC, XLM or any other digital currency, just remember to always do your research and make informed decisions based on market trends and fundamentals.

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