The Ethereum hard fork (ETHW) token has been popular after playing on the popularity of the Ethereum merger. The fork was made with the goal of keeping Ethereum in its original proof-of-work mechanism, and the ETHW token resulted. Chandler Guo is now known as the self-proclaimed organizer of the hard fork and he shared his thoughts on where he expects the forked token to be over the next decade.
On par with Ethereum
Speaking to Bitcoin News in a recent interview, Guo shared a very bullish view of what he expects the future of the forked Ethereum token to be. Currently, ETHW only trades at a small fraction of the price of ETH, but Guo thinks that won’t always be the case.
Guo shared that he believed that over time, ETHW would be at the same level as ETH. He gives it a decade before the two digital assets will trade at the same price as Ethereum. This would put the digital asset on more than 100x growth over the next year, which Guo thinks is possible.
He points to the trading volume of the digital asset as evidence of this possible growth. “ETHW’s trading volume is huge already. Today, it’s almost $1 billion,” Guo explained. 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 for its growth, and it seems to be behind Guo’s predictions. In addition, development on the network has also accelerated when it comes to decentralized exchanges (DEX), bridges, and NFT marketplaces.
ETHW price down more than 70%.
ETHW’s price was trading at a high of $15 when it was initially launched. However, retaining this value has proven to be a difficult task for the digital asset. It had lost more than 50% of its value just days after its launch.
This was mainly due to tokens being dumped by ETH holders who had received them virtually 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 digital asset’s future price would mean that ETHW would do what the forked tokens were unable to do, namely match the price of the original token. Nonetheless, the digital asset continues to hold up well in the bear market.
ETHW is currently trading at $6.20 at the time of this writing and is up 8.18% in the last 24 hours.
Featured image from Finbold, charts from TradingView.com
Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…