Falling interest leads to poor market performance for Ethereum proof-of-work forks-market tactualizations
Falling interest leads to poor market performance for Ethereum proof-of-work forks-market tactualizations
After the transition from Proof-of-Work (Pow) to Proof-of-Stake (POS), the Ethereum community experienced the introduction of two new Pow Ethereum Fors: Ethereumpow and Ethereumfair. In the past four months, the value of both coins has fallen 94.8 % to 98.4 % in US dollars.
Pow Ethereum Forks Ethereumpow and Ethereumfair suffer a significant loss of value after the start
Since their introduction in September 2022, the two newly introduced Ethereum Forks, who use a proof-of-work (Pow) consensus, has suffered significant loss of value. Ethereum himself carried out the transition from Pow to Proof-of-Stake (POS), known as "The Merge" on September 15, 2022. Since then, ETH has fallen by 25.62 % in value, from $ 1.635 per piece of coin to 1.216 $.
The two forks that followed the transition from Ethereum to POS have developed poorly and have since lost 94.8 % to 98.4 % of value. Ethereumpow (ETHW) is currently being traded at $ 3.08 per unit, according to its all-time high of $ 58.54 on September 3, 2022. The price of ETHW was calculated before the chain went live, since some stock exchanges offered IOU markets in front of the fork.
In addition to its loss of value of $ 94.8 %, ETHW also fell by 19.8 % last month. However, ETHW has improved somewhat in the past two weeks and has increased by 4.3 %. On January 3, 2023, ETHW occupies 94th place among the top 100 tokens in terms of market capitalization with an overall market assessment of around $ 326.40 million
In addition to its decline in price in the past four months, the hashrate of the network of 68.17 Terahash per second (TH/S) has fallen to 16.99 Th/s, a loss of 75.07 % since The Merge. The two best mining pools for ETHW are currently F2Pool and 2miners. Ethereumfair (ETHF) is a less well-known Ethereum fork, which is not assigned to Coingecko.com.
On January 3, 2023, it took 2,736. Square under the 22,174 tokens listed on Coinmarketcap.com. ETHF has fallen by 98.4 % since his all -time high of $ 20.59 on September 16, 2022. The global trade volume was $ 657,438 in the last 24 hours, whereby Gate.io is the top exchange in terms of the ETHF trade volume.
In the past four months, these Ethereum forks have hardly been mentioned, and the data from Google Trends show a significant decline in interest since "The Merge". The search term "Ethereum Fork" had a score of 100 in the week from September 11th to 17th, 2022, but has now fallen on four.
The same trend can be observed in the search term "ETHW", which also achieved a 100 achieved this week, but now hardly holds a score of four. Talks about these forks are also low on Twitter and forums such as Reddit. The falling price and lack of interest suggests that these two new proof-of-work eth forks slowly lose relevance.
What do you think about the two forks that appeared after the transition from Ethereum from Pow to POS? Let us know your opinion on this topic in the comment area below.
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