Wednesday, May 29, 2024

The price of the prospective fork of Ethereum, ETHW, is less than $100.

The ETHW is a fork token from Ethereum, that doesn’t yet exist. It’s trading at under $100 across various crypto exchanges. This is after it debuted starting at $30. ETHW is essentially a native asset Belonging to the chain ETHPoW.

As of now, ETHPoW is a possible brand new chain that is backed by proof-of-work crypto miners. This is as the first chain is switching to a proof-of-stake consensus. This will happen at the event called ‘Merge’, due to be held in September.

ETHS, which is the proof-of-stake version, is currently trading at prices around $1,600. There is a great difference between the price of ETH and ETHW.

The Price Of ETHW

There exists a potential for a chain split. I’d this happens, then people who hold a certain amount of the ETH from the original chain, will receive automatically an equal amount in the form of ETHW tokens. Due to these speculations, there are some exchanges that have listed ETHW for purposes related to trading, ahead of time.

Take for example Poloniex. They announced that they support not just ETHW but also ETHS. MEXC Global and Gate is a cryptocurrency exchange that have also decided to list both ETHS as well as ETHW on their platform. At the same time, the CEO of OKX, Jay Hao, has said that they would have the newly forked ETH coins should traders showcase sufficient demand for it.

BitMEX is a cryptocurrency derivatives exchange that have launched for ETHW, Tether-marguned contracts. This enables price speculation ahead of the potential inception of the token.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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