Chinese Bitcoin Giant BTCC Launches Global Crypto Exchange ‘DAX’ with Ethereum Classic

Posted in: Archive
June 26, 2017 2:18 PM UTC

BTCC, the operator of China’s oldest bitcoin exchange, has launched a ‘pure crypto-to-crypto exchange’ in BTCC DAX, with Bitcoin/Ethereum Classic (BTC/ETC) as its first trading pair.

Launched today at 10:00 AM (UTC) with customer deposits enabled, BTCC DAX will see trading go live tomorrow on Tuesday, June 27th, at the same time.

In an announcement on its website, BTCC added:

BTCC DAX is fully supported by the BTCC customer service team, which provides 24/7 support. Our support team guarantees a response within 12 hours, and is working around the clock to ensure prompt on-boarding of new clients.

The exchange’s decision to launch with the ETC/BTC trading pair follows BTCC CEO Bobby Lee’s public twitter poll in May. The bitcoin executive sought a public vote to enable support for a new digital currency. Nearly 200,000 votes and a fortnight later, Lee announced Ethereum Classic as the cryptocurrency with the most votes in a ‘final four’ list that included Dogecoin, Steem and Monero’s tokens.

BTCC has followed up on that promise to list ETC, albeit in its new all-crypto exchange. The exchange is available to users worldwide.

ETC will be the first among several new cryptocurrencies to be listed on BTCC DAX in the near future. The exchange will notable introduce the ETH/BTC trading pair next week on July 3rd.

As the blockchain that chose not to implement changes to the Ethereum blockchain to rectify the 2016 DAO debacle, Ethereum Classic went as far as being valued above Litecoin by total market capitalization in late May. The Ethereum Classic developer team have since pointed to initial coin offerings (ICOs) that will soon be facilitated on the Ethereum Classic blockchain. ‘No bail outs in $ETC’, the Ethereum Classic team added with a disclaimer earlier this month.

At the time of publishing, Ethereum Classic – like the wider market – has taken a downward turn, losing over 10% in a 24-hour period. Currently ranked #5 on list of the biggest cryptocurrencies, Ethereum Classic has a market cap of just under $1.9 billion.

Since the turn of the year, Ethereum Classic’s ETC token has gained 1440% in value while the overall market cap has risen over 1500%.

Featured image from Shutterstock.

Last modified: June 10, 2020 1:27 PM UTC

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Samburaj Das @sambdas

Samburaj is the Editor for CCN, among the earliest and foremost publications covering financial and blockchain news. He has authored over 2,000 articles for CCN. Email him samburaj(@) or find him barely tweeting @sambdas