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The Ethereum hard fork token (ETHW) is popular since the Ethereum merger. The fork was done to keep Ethereum in its original proof-of-work mechanism – the result is the ETHW token. Chandler Guo is known as the self-proclaimed organizer of the hard fork. Now he has shared his thoughts on where he expects the ETHW token to be in the next ten years.
Similar to Ethereum
In a recent interview with Bitcoin News, Guo gives a very optimistic view on the future of the Ethereum token. ETHW is currently trading at a small fraction of the price of ETH. But: Guo believes that this will not be the case for the foreseeable future.
Guo believes that ETHW will be at the same level as ETH over time. He estimates that it will take ten years for both digital assets to trade at the same price. This would cause the digital asset to grow more than 100 times in the next year, which Guo believes is possible.
He points to the trading volume at ETHW as evidence of this potential growth. Goo:
“The trading volume of ETHW is already huge. Today it is almost a billion dollars. To date, ETHW is supported by more than 20 mining pools and 2,000 miners from around the world. ETHW is listed on more than 30 exchanges.”
This support that ETHW has received since its inception is very important to its growth – and it seems to support Guo’s prediction. Also, the development of the network has accelerated in terms of decentralized exchanges (DEXs), bridges and NFT markets.
ETHW course supports more than 70%
The ETHW rate peaked at $15 at launch. However, it was difficult to maintain this value on the basis. Just a few days after it was launched, it had lost more than 50% of its value.
This is mainly due to the dumping of the tokens by ETH holders who basically got them for free. Therefore, the value of the digital asset was expected to drop fairly quickly. As is the case with most of the forked signs.
However, Guo’s stance on the future price of the digital asset suggests that ETHW would do what forked tokens could not – that is, match the price of the original token. However, the digital asset continues to hold up well in the bear market.
ETHW is currently trading at $6.20 and is up 8.18% in the last 24 hours.
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Test evidence: Bitcoinist
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