Ethereum PoW (ETHW) Price Skyrockets Over 40%, Here’s Why

Ethereum hard fork venture EthereumPoW on Tuesday launched the cross-chain bridge ETHW Bridge. The new bridge helps Ethereum (ETH), Tether (USDT), and USD Coin (USDC) between ETHW and the Ethereum community. As a outcome, the ETHW value has skyrocketed practically 40%, making a excessive of $7.28 in the previous few hours.

ETHPoW (ETHW) Jumps on Launch of Ethereum Bridge

Ethereum onerous fork venture EthereumPoW in a tweet on September 20 introduced the launch of the cross-chain bridge ETHW Bridge backed by BridgeTech. The bridge helps Ethereum (ETH), Tether (USDT), and USD Coin (USDC) from the Ethereum PoS community to ETHPoW.

However, the bridge doesn’t help ETHPoW to the Ethereum community. It means customers will be unable to transform ETHW tokens to ETH. Moreover, there are not any particulars on including the ETHW to Ethereum PoS community help later.

The contracts on the ETHPoW are as follows:

ETH (PoS): 0xB007f6c4511fD2b70a02BfcFAb6072BcEf21788d

USDC: 0xC675FDBe260e1ee93106Ee596B916952a9344f44

USDT: 0xB6334BeDf341d111525A1Db8fBE7805dE57De957

Moreover, the Chain ID of the ETHPoW Bridge is 10001. Experts criticized the EthereumPoW on the opportunity of replay assaults as a consequence of points with Chain IDs.

In truth, exploiters have been in a position to get 200 ETHPoW (ETHW) tokens in a replay attack on September 18. The attacker transferred 200 WETH by means of the Omni Bridge on the Gnosis chain and replays the transaction date on the ETHW chain to get the identical quantity of ETHW tokens.

The assault occurred as a result of the Omni Bridge on the ETHPoW chain used the previous chainID. As a outcome, the ETHPoW (ETHW) value dropped 37% to a low of $4.22 on Monday.

ETHW Price Jumps 40% Despite the Replay Attack

The ETHPoW (ETHW) value has jumped over 40% within the final 24 hours regardless of the replay assault on the community. ETHW has made a 24-hour high and low of $4.87 and $7.28, respectively.

At the time of writing, the ETHW value is buying and selling at $6.90. Moreover, the buying and selling quantity is rising after the Merge.

Meanwhile, Ethereum’s (ETH) value has recovered slightly after falling under the help degree of $1,430. The ETH value is buying and selling at $1,356, up over 5% within the final 24 hours.

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his information about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been related to the blockchain and cryptocurrency trade for a considerable interval and is at the moment overlaying all the most recent updates and developments within the crypto trade.

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