The Ethereum hard fork token (ETHW) has been popular after playing with the popularity of the Ethereum Merge. The fork was carried out in an attempt to keep Ethereum in its original proof-of-work mechanism, and the ETHW token resulted. Chandler Guo is now known as the self-styled organizer of the hard fork and has shared his thoughts on where he expects the forked token to be in the next decade.
On par with Ethereum
Speaking to Bitcoin News in a recent interview, Guo shared a very optimistic view of what he hopes will be the future of the forked Ethereum token. Currently, ETHW is only trading at a small fraction of the price of ETH, but Guo believes that won’t always be the case.
Guo shared that he believed that over time, ETHW would be on par with ETH. It gives him a decade before the two digital assets trade at the same price as Ethereum. That would put the digital asset on a 100-fold growth over the next year, which Guo believes is possible.
He points to the trading volume of the digital asset as proof of this potential growth. “Already, the trading volume of ETHW is huge. It’s almost a billion dollars today,” Guo explained. “As of today, ETHW is supported by more than 20 mining pools and 2,000 miners worldwide. More than 30 exchanges have listed ETHW.”
ETHW trending at $6.4 | Source: ETHWUSD on TradingView.com
This support that ETHW has received since its launch has been very important to its growth, and it seems to be driving Guo’s predictions. In addition, development on the network has also increased in terms of decentralized exchanges (DEX), bridges and NFT markets.
ETHW price down more than 70%.
The price of ETHW had traded at a high of $15 when it was initially launched. However, maintaining this value had proven to be a difficult task for the digital asset. It had lost more than 50% of its value within days of its release.
This was mainly due to token dumping by ETH holders who had received them essentially for free. Therefore, the value of the digital asset was expected to drop quite quickly, as is the case with most forked tokens.
However, Guo’s position on the future price of the digital asset would mean that ETHW would do what forked tokens have failed to do, and 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 at the time of writing and is up 8.18% in the last 24 hours.
Featured image from Finbold, charts from TradingView.com
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