{"id":1146,"date":"2022-09-22T15:33:43","date_gmt":"2022-09-22T15:33:43","guid":{"rendered":"https:\/\/grandpascrypto.com\/?p=1146"},"modified":"2023-01-09T16:19:07","modified_gmt":"2023-01-09T16:19:07","slug":"new-ethereum-hard-fork-suffers-losses-post-merge","status":"publish","type":"post","link":"https:\/\/grandpascrypto.com\/new-ethereum-hard-fork-suffers-losses-post-merge\/","title":{"rendered":"New Ethereum Hard Fork Suffers Losses Post Merge"},"content":{"rendered":"\n
tl;dr Summary:<\/strong> The new Ethereum fork initially saw a surge in its token price but has fallen consistently due to heavy sell pressure. The price now seems to have settled, having dropped by 95% from its all-time high of $141 in August.<\/em><\/p>\n\n\n\n ETHPoW is the name given to the new hard fork from the Ethereum blockchain following the merge event, which changed Ethereum to proof-of-stake (PoS) and removed its dependence on miners. <\/p>\n\n\n\n A group of Ethereum proof-of-work (PoW) miners came together to fork Ethereum to continue using the original consensus process, resulting in the creation of ETHPoW. <\/p>\n\n\n\n The new ETHW token jumped from $35.4 to $60.68 shortly after the merge, representing a 70% increase in less than five hours, according to CoinMarketCap data. <\/p>\n\n\n\n However, the forked coin has since lost all of its gains, falling to $6.90, a whopping 95% drop from its all-time high of $141 in August.<\/p>\n\n\n\n