Ethereum Proof-of-Work Hard Fork Token Nosedives Post The Merge

• The ETHW token rallied successful the hours aft The Merge earlier crashing heavily.
• The token is down 18% implicit the past 24 hours.
• The ETHPoW mainnet motorboat is little than 24 hours away.

The Proof-of-Work fork of the Ethereum network, ETHPoW, saw its token rally past clang aft The Merge. The ETHW token went from astir $35.4 to implicit $70 conscionable aft The Merge took place, earlier crashing to $27 aboriginal on. Many person been looking to the ETHW token to marque immoderate speedy gains, arsenic it is being airdropped to holders of Ethereum.

ETHW Price: TradingView

The mainnet for ETHPoW is besides acceptable to launch, though the token itself is presently not yet available. Exchanges that support it see Poloniex, Gate.io, MEXC, Bitrue, and a fewer others.

The ETHPoW hard fork is launching due to the fact that galore miners privation to proceed mining Ethereum, having purchased ample amounts of mining hardware. They person been migrating to different networks, including ETH Classic (ETC) and Ravencoin (RVN), which person seen increases successful hashrate.

Currently, the ETHW token is down 18% implicit the past 24 hours. It is disposable arsenic IOUs, and is presently unrecorded connected FTX.

In the meantime, the web and token has caused immoderate contention for its existence. However, it besides looks acceptable to motorboat with each information “including the last code, binaries, config files, nodes info, RPC, explorer,” which volition beryllium made nationalist soon, according to the developers.

ETHPoW Mainnet Less Than 24 Hours Away

The EthereumPoW squad announced connected Twitter that the mainnet merchandise would beryllium little than 24 hours away. It besides said that it would people a 1 hr countdown timer to travel the launch.

While its tiny but vocal assemblage has been enthusiastic astir the mainnet, others person not been arsenic enthusiastic. Vitalik Buterin has said that it was a mode to marque a “quick buck,” for instance, astatine a league astatine the ETH-Seoul conference.

Still, the marketplace volition support an oculus connected the ETHW token, adjacent if the wider crypto assemblage doesn’t look to person overmuch involvement successful it. In immoderate case, miners volition beryllium looking to marque up for the inability to excavation ETH, and different networks volition benefit. There has besides been a increasing list of ETHW mining pools.