- Chandler Guo stated that the worth of ETHW would match ETH in ten years.
- He additionally confirmed on his interview with Bitcoin.com that there could be over 100 initiatives operating on prime of ETHPoW.
- ETHW has crashed from over $50 to below $10 following The Merge.
Chandler Guo, the person behind the arduous fork that led to ETHPoW, stated that the worth of ETHW would match that of ETH even ten years from now. Guo was talking to Bitcoin.com, saying that the brand new token had a powerful potential to develop — even when critics have already dismissed it.
Some have proven assist for the ETHPoW fork as a result of they imagine PoW is the fitting method ahead, whereas others are doing it purely from a miner’s perspective. The overwhelming majority of the crypto neighborhood doesn’t suppose a lot of it, however the small and vocal group supporting it has persistently made their voices heard.
Guo stated in his interview with Bitcoin.com,
“At present, ETH worth is excessive as a result of there are lots of builders and over 200 completely different initiatives operating on prime of the Ethereum PoS [proof-of-stake] blockchain. Alternatively, there are lower than 10 initiatives on the ETHW.”
He even believes that there will likely be over 100 initiatives operating on prime of the PoW chain. A great variety of exchanges assist it, however whether or not long-term success will arrive stays to be seen.
The worth of the ETHW token is up by about 5% over the previous 24 hours. Nevertheless it’s nonetheless a good distance from the lofty heights of over $50 that it was as soon as at. It fell sharply after The Merge, which some stated was inevitable.
ETH Dropped Sharply Following The Merge
Ether itself has skilled a pointy drop in costs following The Merge. It seems that this was as a result of ETH miners dumped 17,000 ETH in per week. ETH is at present priced at simply over $1,300, down 11% over the previous week.
There may very well be challenges forward for Ethereum as effectively. SEC Chair Gary Gensler has stated that the transition to Proof-of-Stake might make it a safety. The brand new mannequin might make it cross the Howey Check, which is used to find out if an asset is a safety.
Nonetheless, on the entire, The Merge has been wonderful for Ethereum. It units it up for a brilliant future, with many necessary upgrades and the potential to revolutionize finance.
