Declining Interest Leads to Poor Market Performance for Ethereum Proof-of-Work Forks – Market Updates Bitcoin News

After transitioning from proof-of-work to proof-of-stake , the Ethereum community saw the launch of two new PoW Ethereum forks: ethereumpow and ethereumfair. In the past four months, the value of both coins has dropped by 94.8% to 98.4% in U.S. dollars.Since their launch in September 2022, the two newly introduced Ethereum forks that use a proof-of-work consensus algorithm have seen significant value loss. Ethereum itself made the transition from PoW to proof-of-stake on Sept.

In addition to its price decline over the past four months, the network’s hashrate has fallen from 68.17 terahash per second to 16.99 TH/s, a loss of 75.07% since The Merge took place. The top two mining pools for ETHW currently are F2pool and 2miners. Ethereumfair is a lesser-known Ethereum fork, and it is not assigned a rank on coingecko.com.

On Jan. 3, 2023, it was ranked 2,736th among the 22,174 tokens listed on coinmarketcap.com. ETHF has declined 98.4% since its all-time high of $20.59 on September 16, 2022. It has seen $657,438 in global trade volume over the past 24 hours, with Gate.io as the top exchange in terms of ETHF trading volume.

Over the past four months, there has been little mention of these Ethereum forks, and Google Trends data shows a significant decrease in interest since “The Merge.” The search term “Ethereum Fork” had a score of 100 the week of Sept. 11-17, 2022, but has now dropped to a four. The same trend is seen for the search term “ETHW,” which also hit a 100 during that week, but is now barely holding on to a score of four. Conversations about these forks are also low on Twitter and forums like Reddit. The declining price and lack of interest suggest that these two new proof-of-work

my goal was to create many ways for me to be able to get into my coins to have proof of ownership proof of work proof of identification proof of identity proof of script proof of purchase proof of my name .

Oh this fork was doa, just an attempt by miners to recoup some of those losses.

I've never seen a trader as perfect as BTC_daytrader He knows how to analyse trade and with his strategies he earned me so much profit I made $10,972 in 7days of trading with him. Sound good to be true? Why don't you check it out yourself. Link on his bio BTC_daytrader

If you truly understand bitcoin, then the price shouldn’t bother you instead it should excite you as it’s a golden opportunity to buy and hodl. That should be your bear market strategy. Follow BTC_daytrader he’s a super underrated bitcoiner. I’ve been doing great.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Investors Brace for More Market Tumult as Interest Rates Keep RisingThe era of ultralow bond yields, mild inflation and accommodative Fed policy has ended, money managers say, likely recalibrating the market’s winners and losers for years to come. FJB ESG policy, monetary policy, and the current administration’s general stance toward corporations is crushing profit margins just as much as high interest rates & inflation. Not a political comment, just an observation. I think we need to retest Covid lows (March 2020). $Spy $QQQ The fed had no choice. The democrats ignored economists’ warnings and passed a completely unnecessary 2 trillion dollar stimulus bill that sent inflation rates skyrocketing. Stimulus is for emergencies. Not for buying votes.
Source: WSJ - 🏆 98. / 63 Read more »

Bitcoin, Ethereum Technical Analysis: BTC Edges Closer to $17,000 as Market Focus Turns to FOMC Minutes – Market Updates Bitcoin NewsBitcoin moved closer to the $17,000 level on Tuesday, as market volume begins to pick up following the New Year’s celebrations. Ok, I only listen to ChiefraFba for signals! Totally agree, but I only use ChiefraFba for signals and analysis ALGO bullish
Source: BTCTN - 🏆 531. / 51 Read more »