The EthereumPOW price is down by 14 per cent, a few weeks after it was forked from the Ethereum network before it migrated to the proof-of-stake (POS) system.
Less than three weeks after it was launched, the EthereumPOW has continued to perform unexpectedly well despite most Ethereum users migrating to the POS system. The project was launched as a protest against the Ethereum project migrating to a POS system and left a group of miners unhappy about the decision.
Today, 10 days after the Ethereum Merge, EthereumPOWcontinues to hold strong and its prices performing relatively well compared to what many people expected. Although the launch of the project comes at a time when the entire cryptocurrency industry is in a downward trend, which is dragging other altcoins, including EthereumPOW, there is a high likelihood that we might see EthereumPOW surviving for the long term.
EthereumPOW Price Prediction
The next few weeks will make or break the EthereumPOW. For starters, the new project is still facing challenges, with over 90 per cent of the previous Ethereum miners failing to migrate to the new platform. Many have speculated that it has been due to the low pricing of EthereumPOW because it only enjoys a hashrate of 50 Th/s compared to the previous 900 Th/s hashrate of Ethereum.
The EthereumPOW is also not the largest POW project with the Ethereum name. In 2016, after Ethereum security was compromised, it forked its old project, migrated it to another network, and left the old Ethereum to operate as Ethereum Classic. Therefore, EthereumPOW will be operating as the second largest Ethereum POW.
Despite this, there are strong indications that in the coming sessions, the project may start coming to life. Currently trading below $10 at press time, it is likely we might see it starting to recover and, in the next few trading sessions, to have hit the $15 price level. However, it is still very early to make long-term predictions for EthereumPOW due to it being on the market for less than three weeks.
EthereumPOW Daily Chart
