On September 15, Bybit exchange formally announced the start of ETHW spot trading against the Tether (USDT) stablecoin on Twitter. The company announced that “ETHW deposits and withdrawals are coming soon.” The FTX website now features a trading page for ETHW/USD.
The two well-known cryptocurrency exchanges, Bybit and FTX, were among the first crypto trading exchanges to announce the launch of spot trading feature for ETHW/USDT (Ethereum Proof-of-Work) tokens with the USDT pair, on September 15.
Crypto exchange platforms are rushing to begin trading Ethereum Proof-of-Work (ETHW) coins even though the Ethereum blockchain has not yet forked into two different networks.
As per the report, the tokens of ETHW Fork IOU are currently trading on five exchanges, including the worldwide FTX exchange, MEXC Globa, Bybit, the FTX US platform and Gate.io.
Currently, FTX is managing more than 80% of ETHW trading, which is expected to be worth $24.7 million at the time of writing. 10% and 17.6% of the ETHW trading volumes respectively are recorded by MEXC Global and Bybit exchanges.
The ETHW Fork IOU token is now trading at $22.78, almost down by 33.35% over the previous 24 hours.
What next after the most awaiting event The Merge
Following the Merge event of Ethereum that took place earlier on Thursday, the Ethereum blockchain hard fork is anticipated.
The fork is anticipated to split the chain into two versions namely, the proof-of-stake version and a PoW version because certain members of the community opted to keep helping the mining-based Ethereum version of PoW.
As stated earlier, the hard fork was anticipated to happen 24 hours after the Merge.
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