What the fork? Ethereum's potential forked ETHW token is trading under $100
An Ethereum fork token that does not yet exist, dubbed ETHW, is trading under $100 across several crypto exchanges after debuting at $30.
ETHW is the native asset to the ETHPoW chain. ETHPoW, for now, is a possible new chain backed by proof-of-work (PoW) miners as the original chain switches to proof-of-stake (PoS) consensus in September's "Merge" event.
Meanwhile, the proof-of-stake version ETHS is trading at around $1,600, or the difference between the ETH price and the ETHW price.
We promise there won't be any premining or additional token issuance. So there is nowhere to save a reward for any contributors and supporters at this moment. However, if any beneficiaries would love to reward early supporters, we will connect beneficiaries with early supporters. https://t.co/gj4b81LD3V
As a result of this potential chain split, anyone holding a certain number of the original chain's Ether (ETH), will automatically receive an equal amount of ETHW tokens. Such speculations have prompted some exchanges to list ETHW for trading in advance.
For instance, Poloniex announced support for both ETHW, as well as ETHS, the PoS chain token, listed for trading against Ether.
Trading is now live for the Ethereum (ETH) potential hard fork tokens! @justinsuntron ETHW(ETH1)/ETH: https://t.co/QeY2Yk1a9EETHS(ETH2)/ETH: https://t.co/yS1piE47u4 pic.twitter.com/8Ko44ykWqd
Crypto exchange MEXC Global and Gate.io have also listed ETHW and ETHS on its platform. While OKX CEO Jay Hao has committed that they would list the newly forked Ethereum coins if there is "sufficient demand" for them among traders.
At @OKX, we actively monitor and will support the #Ethereum Merge.Potential Ethereum hard forks may emerge when the network's upgrade takes effect.We will
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