Binance, the world’s largest cryptocurrency exchange, has officially extended its support to Ethereum Proof-of-Work (ETHW), Ethereum’s hard-forked version. Mining but no listing The crypto exchange announced the launch of the ETHW Mining Pool on Binance Pool via a blog post and informed users of a thirty-day “zero pool fee” period for miners who participate in the […]
ETHW debuted at the beginning of September at an impressive price of $121 and proceeded to go as high as $138 within 24 hours. However, the token plummeted dramatically in the run-up to Ethereum’s merge event, trading at $65 on 15 September. The price has only gone down from there.from CoinMarketCap, ETHW is currently trading at $11.82, down 4.7% from yesterday . Current market capitalization stands at $1.
Interestingly, following the merge, ETHW’s trading volume saw a massive spike, rising to almost $60 million on 15 September, compared to a mere $3.3 million the day before. The following day, it crossed the $100 million threshold. The trading volume has only gone up since then, reaching a record high of $583 million on 25 September.
The increasing trading volume only goes on to prove the interest that still remains in the conventional proof-of-work version of Ethereum. A lot of this interest is coming from ETH miners who were caught between calls for an eco-friendly version of the second largest crypto.had previously clarified that they would support a hard-forked version of ETH that would retain its PoW consensus protocol.Subscribe to get it daily in your inbox.