ETHW Hasn’t Introduced Yet– However You Can Currently Trade It

Secret Takeaways

ETHW is a token due to introduce as part of EthereumPoW’s strategies to protect a Proof-of-Work variation of Ethereum following “the Merge.”.
EthereumPoW is not yet live, however a token representing ETHW is offered for trading on FTX and other exchanges.
ETHW is presently valued at around $20.55.

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ETHW is presently trading at about $20.55.

Exchanges Open ETHW Trading

Hours after the Ethereum network effectively finished its “Combine” to Proof-of-Stake, exchanges have actually begun to open area markets for a possible ETHW fork token.

FTX appears to have actually been the very first to introduce an area market for ETHW at around 09:00 UTC. Numerous users holding ETH on the exchange reported that they had actually gotten a comparable quantity of ETHW in their accounts.

Although FTX users can now purchase and offer ETHW on the exchange, users aren’t trading the token itself. Rather, FTX has actually released “IOU” tokens that can be exchanged for the token when the fork ultimately releases.

” ETHW represents the prospective canonical ETH Proof-of-Work (PoW) token. If FTX figures out no such token has actually emerged, the token will settle to absolutely no,” FTX stated in a disclosure pinned to the token’s trading page on its site. “ETHW is really unpredictable and might lose much of its worth. Please put in the time to look into the threat associated with trading this item.”

Other crypto exchanges seem following FTX’s relocation. Derivatives exchange ByBit likewise revealed that it had actually opened an ETHW/USDT area market and will introduce withdrawals and deposits once the primary Ethereum Proof-of-Work chain goes live. MEXC Worldwide, another exchange that had actually formerly assured to airdrop ETHW tokens to ETH holders, has actually likewise released trading sets for the possession.

According to information from CoinGecko, the ETHW area market value presently sits at around $20.55. At existing rates, the possession’s market capitalization is valued at 1.38% the worth of ETH.

Ethereum’s PoW Fork

In the weeks leading up to the Merge, a group of confidential designers prepared to fork the Ethereum blockchain after the Merge. The fork, called EthereumPoW, wishes to keep a variation of the network keeping up a Proof-of-Work agreement system. ETHW is set to be dispersed to ETH holders when the network launches.

The main EthereumPoW Twitter account exposed information for the hardfork previously this afternoon and made several pull demands on the job’s GitHub repository. Although EthereumPoW designers have actually launched a network RPC URL and Chain ID, early reports recommend the network is not presently functional. Central exchanges will likely be the very first to active deposits for the brand-new token once the network ends up being totally functional at some point in the next 12 to 24 hr.

Disclosure: At the time of composing this piece, the author owned ETH and numerous other cryptocurrencies.

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