Poloniex Enables Ethereum Classic (ETC) Margin Trading For Non-US Customers

By April 10, 2019 Ethereum
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Poloniex has recently announced on its official blog that a new asset, Ethereum Classic (ETC) will start to be available not only for trading but also for margin trading for non-U. S. customers with total leverage of 2.5 times.

Before now, you could do margin trading with these other tokens: XRP, ETH, XMR, STR, FCT, LTC, BTS, DOGE, DASH, MAID and CLAM. They are all paired against BTC on the exchange. This makes ETC the first asset to have margin trading after Poloniex was acquired by Circle last year.

The post also affirmed that the company is currently focused on finding new assets to add to the list and that we may see some new announcement about upcoming assets soon since Poloniex is expanding its services.

All the assets available for margin trading on the company can also be used for lending and ETC will not be different in this aspect. By lending the asset, you can earn some interest rates, which are set by the Poloniex markets.

The company has also listed some other efforts such as completing a major system upgrade that will make the whole company work better. Fees were also reduced and the whole system was streamlined to make them even lower and they listed the Grin token to the platform.

About Ethereum Classic

Ethereum Classic was born in 2017 when Ethereum hard forked into it. Since then, the token, which kept the original code during the hard fork, but was not so popular as the version with the changed code, has been rated as a second class Ethereum.

The token saw its network suffer a 51% attack back in January, but the network has regained some of its strength afterward. This weekend, the tokens had an incredible price surge. The price went from around $6.66 USD to $10 USD. However, now prices are on the $7 USD range once more.

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