Ethereum PoW (ETHW) Price Skyrockets Over 40%, Here’s Why
Ethereum onerous fork undertaking EthereumPoW on Tuesday launched the cross-chain bridge ETHW Bridge. The brand new bridge helps Ethereum (ETH), Tether (USDT), and USD Coin (USDC) between ETHW and the Ethereum community. In consequence, 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 undertaking 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.
Nonetheless, the bridge doesn’t help ETHPoW to the Ethereum community. It means customers will be unable to transform ETHW tokens to ETH. Furthermore, there aren’t 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
Furthermore, the Chain ID of the ETHPoW Bridge is 10001. Consultants criticized the EthereumPoW on the opportunity of replay assaults because of points with Chain IDs.
In truth, exploiters had been capable of get 200 ETHPoW (ETHW) tokens in a replay attack on September 18. The attacker transferred 200 WETH by 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. In consequence, the ETHPoW (ETHW) value dropped 37% to a low of $4.22 on Monday.
ETHW Worth Jumps 40% Regardless of the Replay Assault
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.
On the time of writing, the ETHW value is buying and selling at $6.90. Furthermore, the buying and selling quantity is rising after the Merge.
In the meantime, Ethereum’s (ETH) value has recovered barely 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.
