After the successful completion of The Ethereum Merge, it is now time to see if any hard fork ETHW will be successful. The Ethereum miner community has for a long time been determined to launch new hard forked tokens post The Merge. But if the forked tokens would receive support from the community remains to be seen. Currently, the price of Ethereum proof of work forked token ETHW is dropping consistently. Several crypto exchanges and mining pools have already announced their support to the forked tokens like ETHW. However, this is subject to the success of the ETHW chain.
In the last 24 hours, the ETHW price dropped by a staggering 52%. As of writing, ETHW price stands at $9.20, according to price tracking platform CoinMarketCap. This is in compared with the pre-Merge price level of $60.80. On the other side, even Ethereum (ETH) price did not have any positive impact from The Merge upgrade. As of writing ETH price stands at $1,429, down 4.77% in the last 24 hours.
Binance Warns Of Potential ETHW Failure
Crypto exchange Binance said it is supporting ETHW on the condition of successful implementation of the ETHW chain. The forked token will not be supported if the chain does not turn out to be successful, it warned in a blog. The exchange said it could take around one week to fulfil the crediting of ETHW tokens to eligible Binance customers.
“In order to credit eligible customers with ETHW, the process will take approximately one week to complete. In the event that Binance.US deems the ETHW chain unsuccessful, ETHW will not be supported.”
Support For ETHW
Some of the top cryptocurrencies have launched sport trading for the forked token ETHW. Among the exchanges are FTX and Bybit. Also, some of the major Ethereum mining pools are expected to support the ETHW token. Among the mining pools supporting ETHW mining are F2Pool, Poolin, BTC.com and Nanopool.
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