In the aftermath of Ethereum’s hard fork, exchange policies quickly became a defining factor in how the market treated the two chains. Kraken announced that it would support Ethereum Classic (ETC), saying it had chosen to back classic ether alongside most major Ethereum exchanges. The decision was widely seen as an important step in giving ETC broader market legitimacy.
Kraken said it would launch ETC/XBT, ETC/ETH, ETC/USD, and ETC/EUR trading pairs. ETC represents the chain that did not reverse the effects of the DAO hack by re-crediting affected investors. As support for that chain grew, its token experienced sharp price action. According to the report, intense activity on exchanges such as Poloniex pushed ETC up by more than 250% in just two hours, underscoring both surging interest and extreme volatility.
Kraken Warns About Replay Attack Risk
Even with rising exchange support, technical risks remained a major concern. Kraken specifically warned users about the possibility of replay attacks, a widely discussed issue following the fork. The exchange urged traders to understand the threat and take steps to protect themselves. Some in the community welcomed Kraken’s move, arguing that formal ETC market support would help manage post-fork asset handling more safely and transparently.
Coinbase Criticized Over Frozen Customer Funds
Coinbase, meanwhile, faced a wave of complaints over its handling of forked assets. The company was accused of manipulating the market after freezing customer funds in both ETH and ETC. Multiple users on Reddit said they were unable to trade or access ETC that had been purchased on GDAX, and some went so far as to accuse the exchange of outright theft.
Users cited a Coinbase update indicating that ETC withdrawals were expected only “in the coming weeks.” At the same time, the company said there were no plans to support ETC trading on GDAX, even while insisting it was not philosophically opposed to hard forks or forked coins. That stance drew unfavorable comparisons with exchanges such as Poloniex and Bitfinex, which had already moved more quickly to accommodate ETC.
Ethereum Foundation Focuses on ETH Chain
As the exchange debate intensified, Ethereum creator Vitalik Buterin published guidance on how to proceed after the fork. He wrote that the Ethereum Foundation would support the community consensus behind the hard fork decision. Based on metrics including carbonvote, DApp adoption, and ecosystem infrastructure support, the foundation would focus its resources and attention on the chain now known as ETH, meaning the forked chain.
That statement highlighted the widening split between ETH and ETC in terms of governance, institutional backing, and exchange treatment. Community members also floated the idea that the Ethereum Foundation should sell all of its ETC holdings to demonstrate clearer support for ETH. Taken together, exchange listing decisions, fund-freeze controversies, foundation priorities, and ongoing security concerns shaped the early market structure of the post-fork Ethereum landscape.