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ETHPoW Launch Faces Challenges as ETHW Token Plummets 65%

ETHPoW, a Proof-of-Work fork of Ethereum, launched on September 15 but encountered technical difficulties, leading to a significant drop in its ETHW token price.
Published on 2022-09-16

ETHPoW Launch and Initial Struggles

ETHPoW, a separatist Proof-of-Work (PoW) blockchain forked from Ethereum's Merge, officially went live on September 15. However, the launch was marred by technical issues, which exerted downward pressure on its native ETHW token.

ETHW Token Price Volatility

The price of ETHW has experienced a sharp decline since the launch. According to CoinMarketCap, the token's value dropped by 65%, reaching approximately $14 on September 16. At its lowest point, ETHW was trading for $9.50, reflecting significant market uncertainty and sell-off activity.

Hashrate Decline and Network Stability

ETHPoW's hashrate also saw a notable decline, further complicating the network's stability. This decline in mining power could impact the blockchain's security and transaction processing capabilities, raising concerns among stakeholders.

Implications for Investors and the Blockchain Community

The challenges faced by ETHPoW highlight the risks and uncertainties associated with blockchain forks. Investors and traders should closely monitor developments in the ETHPoW ecosystem, as its performance could influence broader market sentiment in the cryptocurrency space.

As the situation continues to unfold, it remains critical for market participants to stay informed and assess the potential implications of ETHPoW's struggles on their investment strategies.

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