Cryptocurrency exchanges Gate.io, Poloniex and MEXC have launched trading in the token of the future Ethereum fork ETHPoW (ETHW). The asset is traded in the form of IOUs issued at a ratio of 1:1 to ETH.
The Ethereum fork will continue its independent work on the Proof-of-Work (PoW) algorithm. This solution was proposed by one of the largest players in the Chinese mining ecosystem, Chandler Guo. His initiative was supported not only by ordinary members of the community, but also by a number of large cryptocurrency exchanges.
Participants in the crypto industry are monitoring the potential of the future of ETHW, despite the fact that the timing and the very possibility of a fork have not been officially announced. So, the cryptocurrency exchange Coinbase since the beginning of August provides users with background information about the value of ETHW.
Exchanges Huobi, Digifinex, and OKX said they would explore the possibility of listing the asset. Moreover, a number of leading cryptocurrency platforms have already started trading ETHW futures, ETHW/USD and ETHW/USDT for interested parties. The assets are traded as IOUs issued at a 1:1 ratio to ETH.
ETHW quote on the Gate.io exchange fluctuates ranging from $56 to $64. Exchanges Poloniex and MEXC also launched trading in tokens of the future Ethereum fork. According to СoinMarketСap, price ETHPoW IOUs was fixed at $45.87, and the daily trading volume of this asset exceeded $900,000.
In mid-August, the ETHPoW project team, which opposes the Ethereum merger, announced the readiness of the code base and support for the future network fork from miners, hardware manufacturers and the crypto community.
Source: Bits
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