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Cryptocurrency ETHPoW began to actively decline from the beginning of trading on September 15, losing up to 75% in price. Such dynamics of the asset indicates low expectations of investors. Sergey Khitrov, founder and CEO of Listing.Help, told Crypto.ru about this.
The expert emphasized that the project has just launched and already supports 2 centralized exchanges, 2 bridges and 2 NFT marketplaces. According to the main developer of ETHPoW, Chandler Goh, there are currently 20 large mining pools and 2,000 crypto miners around the world supporting the ETH PoW cryptocurrency. Also, more than 30 trading platforms have listed the digital asset.
Listing.Help analysts agree that the first months of the startup’s operation will be decisive. Developing a consistent roadmap, engaging the target audience, and building the ecosystem should be a priority for developers. Otherwise, the project has no prospects.
DBX Digital Ecosystem Manager Igor Zakharov expressed the opinion that the ETHPoW network has achieved a certain result. Users have carried out over 1.7 billion transactions, and the project is also supported by several large mining pools. According to the expert, the coin has a low demand from a wide target audience. Perhaps this is due to the desire of developers to preserve the familiar concept that Ethereum has been trying to abandon for a long time, especially against the backdrop of environmental problems.
If we consider the prospects for ETHPoW, then everything is not so rosy.
At some point, the asset quotes reached $60, but then there was a deep correction to $4. It is possible to recover from this failure, but it seems that the project will need to seriously fight for its place in the sun, Igor Zakharov emphasized.
StormGain exchange expert Dmitry Noskov expressed the opinion that ETHPoW is aimed at active competition with Ethereum Classic and RavenCoin. According to the specialist, this asset, like Bitcoin forks, may exist for a certain time, but the project will not achieve wide support.
Earlier, the editors of Crypto.ru informed: the legendary miner Chandler Guo expressed the opinion that mass bankruptcy awaits the miners of the ether. The Ethereum The Megre update took place and now the miners are faced with a ghostly future. According to the expert, only miners with powerful equipment, who have access to cheap electricity, will be able to operate at the level of profitability.
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