While ETHW Has Lost 35% in 2 Weeks, PoW Network’s Defi TVL Swelled by More Than 1,200%

Since the cryptocurrency launched ethereumpow (ETHW) has seen spot marketplace prices diminution by adjacent to 12% during the past 7 days. Despite the information that during the past 2 weeks ETHW has shed 35% successful USD value, the network’s token system and decentralized concern (defi) ecosystem has swelled.

ETHW Spot Market Prices Slide, While the Network’s Total Value Locked successful Defi Climbs

Ethereumpow (ETHW) markets haven’t been truthful blistery successful caller times and since the crypto asset’s worth was recorded earlier the mainnet went live, ETHW is down astir 88% from the all-time precocious recorded 2 months agone connected September 3, 2022.

During the past 2 weeks against the U.S. dollar, ethereumpow (ETHW) has shed astir 35% successful value. On Tuesday, October 18, 2022, the crypto plus has been exchanging hands for $6.94 to $7.34 per portion during the past 24 hours.

ETHW/USD illustration connected October 18, 2022.

Furthermore, aft capturing adjacent to 70 terahash per 2nd (TH/s) of hashrate, ETHW’s full hashpower worldwide is down to 37.66 TH/s. While the network’s autochthonal crypto plus ETHW has performed poorly market-wise successful caller times, ETHW’s full worth locked (TVL) successful defi has skyrocketed.

Statistics from defillama.com bespeak that ETHW’s TVL is astir $3.69 cardinal aft records amusement connected September 24, that the TVL was $283,153. This means that since September 24, oregon implicit the past 24 days, ETHW’s TVL successful defi accrued successful worth by 1,209%.

ETHW full worth locked (TVL) successful decentralized concern (defi) connected October 18, 2022.

Defillama.com stats bespeak that there’s astir 13 antithetic ETHW defi protocols dedicated to the network. The decentralized speech (dex) Uniwswap, not to beryllium confused with Uniswap, is the largest defi protocol connected ETHW contiguous with 52.13% dominance of the existent $3.69 million.

The dex level has astir $1.92 cardinal according to information recorded connected October 18. The second-largest ETHW defi-related protocol Lfgswap has astir $1,404,733 successful worth locked. This means that Uniwswap and Lfgswap predominate astir of ETHW’s defi ecosystem successful presumption of TVL.

The apical 13 defi protocols successful presumption of full worth locked connected October 18, 2022, wrong the ETHW ecosystem.

ETHW has astir a twelve tokens with the full ETHW token ecosystem (including ETHW) valued astatine astir $800 million. The ETHW protocol is fig 83 successful presumption of positions held by TVL successful defi today, portion Ethereum Classic (ETC) web is astir 119 today. ETC’s defi ecosystem is overmuch smaller than ETHW’s, successful presumption of TVL size, arsenic defillama.com metrics amusement Ethereum Classic’s TVL contiguous is $537,243 among 5 antithetic defi protocols.

Most of the ETC TVL is held betwixt 2 defi protocols connected that leverage the Ethereum Classic concatenation which see Hebeswap and Etcswap. ETC’s worth compared to ETHW’s is simply a batch larger and the asset’s $3.24 cardinal marketplace headdress is besides colossal compared to the recently introduced crypto asset.

What bash you deliberation astir ETHW’s caller spot marketplace enactment and the network’s defi TVL expanding during the past fewer weeks? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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