Everything we know so far about ETHW! Lately, the topic of ‘The Merge’ has created much interest from the community. To clarify, ‘The Merge’ is a change from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
ETHW, an Ethereum fork token that does not yet exist, is trading under $100 in some crypto exchanges. Previously they debuted at $30. ETHW is the original (or native) asset to the ETHPoW chain. ETHPoW is a potential new chain backed by PoW miners as the original chain is gearing up to switch into PoS in September. At the same time, the PoS version, ETHS, is trading at approximately $1,600.
Because of the potential chain split, users holding a certain amount of the original chain’s Ethereum (ETH) will get an equal amount of ETHW tokens. It made some exchanges already list ETHW for trading in advance.
Companies with ETHW and ETHS
Poloniex is one of the companies that listed ETHW. Last weekend, Poloniex listed both ETHW and ETHS, the PoS chain token, for trading against ETH. They also dubbed themselves the first crypto exchange to support and list ETH potential hard fork tokens, ETHW and ETHS.
Trading is now live for the Ethereum (ETH) potential hard fork tokens! @justinsuntron
— Poloniex Exchange (@Poloniex) August 7, 2022
Other crypto exchanges, such as MEXC Global and Gate.io, have also listed ETHW and ETHS in their platforms. As for OKX, they are looking forward to the upcoming event, ‘The Merge’. CEO Jay Hao stated, “We will evaluate and list the newly forked coins if there is sufficient demand.”
Potential Ethereum hard forks may emerge when the network's upgrade takes effect.
We will evaluate and list the newly forked coins if there is sufficient demand.
— jay_star.okx ⚛️ OKX CEO (@star_okx) August 8, 2022
Crypto exchange BitMEX is also among the crypto companies that announce its support for the trading of ETHPoW.
— BitMEX Research (@BitMEXResearch) August 8, 2022
Now, the community is curious about new updates from other crypto exchanges regarding ETHW.