Huge Discount On Ethereum (ETH) POW - Should You Buy It?

By Bfab | Good vibes | 19 Aug 2022

As the Merge has been announced, there are lots of speculations on the potential hard fork leading to a new Ethereum POW (Proof-Of-Work) chain. Some centralized exchanges like Poloniex (led by Justin Sun, cofounder of Tron) have not waited for the Merge to propose ETH POW (ETHW) for trading.

How much is 1 ETH POW?

Currently, 1 ETH POW (ETHW) is worth less than 3% of 1 ETH as shown on this chart:

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The ETHW has constantly dropped since its launch and could drop further with the upcoming Merge since it could become quite challenging to trade ETHW outside the few exchanges which proposed it, which could lead to a lack of liquidity.

The current ETHW price gives a rough idea of the future price of ETH POW after the Merge and potential hard fork. Trying to benefit from this hard fork will make no sense if the value of 1 ETH POW is worth less than 3% of 1 ETH. Staking ETH (Proof-Of-Stake) could allow to earn up to 8% per year, which will be significantly higher than the 3% or less you can earn by trying to get ETH POW.

In summary, ETH POW seems to be dead before the Merge has happened. It will likely be only a speculative asset like LUNC or USTC, with no utility.

Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.

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