EthereumPoW (ETHW) is a hard fork of Ethereum blockchain with the Ethereum Merger.
The price of ETHW forms a diminishing resistance line.
After the merger, which shifted Ethereum from PoW to PoS and that gave birth to another hard fork, i.e., EthereumPoW (ETHW). At the time of the merger, the reports showed the estimated value of the Ethereum mining industry to it either fell or rose $19 billion and mining rigs to go obsolete. Obviously, Ethereum miners were inclined to put their resources to work elsewhere, to which Vitalik Buterin suggested they could go for Ethereum classic, but that did not attract the miners.
Instead, they demand another fork, EthereumPoW, which would technically be a fork of a fork. But this ETHW came along with some issues. First, ETHPoW would retain some value initially. Consider the fork like an airdrop of ETHPoW to ETH holders. However, bots could drain all liquidity pools and extract all the value in the ecosystem. Second, the scheme brings crypto’s ugly
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