Bybit and FTX launch token trading of Ethereum fork
Representatives of the platforms warned that if ETHW does not appear, the asset will be settled to zero
15.09.2022 - 15:20
490
2 min
0
What’s new? Cryptocurrency exchanges Bybit and FTX have launched trading of ETHW paired with Tether stablecoin (USDT). ETHW is an Ethereum fork token based on the Proof of Work (PoW) consensus algorithm. Bybit will add support for deposits and withdrawals of the asset at a later date, FTX in turn warned users of the risks. The disclaimer states that if ETHW does not appear, the token will be settled to zero.
Information on Bybit's website
Information on the FTX website
What is known about the trading? On September 15 at 06:42:42 UTC, the Bybit platform made a snapshot of ETH in all user accounts. ETHW is credited to spot accounts at a 1:1 ratio based on this data. Trading in the currency pair ETHW/USDT was launched at 9:30 UTC, the value of the asset was $5. At the moment it was going up to $40.
Three hours after Ethereum switched to the Proof-of-Stake (PoS) algorithm, the value of ETHW plummeted 60,93%, from $45 to $27,42, according to aggregator CoinGecko. As of 14:55 UTC, the asset is trading at $18,77.
What is known about the PoW fork? EthereumPOW developers have reported that they will announce the launch of the fork within 24 hours after the upgrade. As of September 15, 14:00 UTC, the PoW fork mainnet has been launched. A number of major Ethereum mining pools are expected to support ETHW, including F2Pool, Nanopool, Poolin, and BTC.com. The network is also partnering with backup mining pool EthwMine. Meanwhile, Ethereum's largest mining pool, Ethermine, has stopped supporting the PoW algorithm.
Cryptocurrency exchange Binance credited users with ETHW coins at a 1:1 ratio according to their original asset balances.
Useful material?
Telegram 
Twitter Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Technologies
The company also unveiled its own blockchain adoption index
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$90 076
BTC
-1.31%
-
Ethereum
$3 067.05
ETH
-1.86%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.07
XRP
+19.29%
-
Dogecoin
$0.348977
DOGE
-8.14%
-
Cardano
$0.717489
ADA
-2.9%
-
Bitcoin Cash
$447.74
BCH
+3.61%
-
Polkadot
$5.69
DOT
+9.75%
-
Litecoin
$90.8
LTC
+8.5%
-
Stellar XLM
$0.203265
XLM
+42.31%