- Guo stated that the forked token present pricing is “very cheap.”
- The miner said that the new token has the potential to rise by 100x.
Self-appointed Ethereum hard fork organizer Chandler Guo predicts that in 10 years, the value of Ether (ETH) and the freshly airdropped, proof-of-work ETHW will be the same in USD. Guo noted that despite the fact that the new token is trading at a small fraction of its peak on September 15, it still has the potential to increase in value by a factor of 100.
Guo stated that the forked token present pricing is “very cheap,” and therefore it has the potential to rise by 100x. The forked blockchain has a lot of ground to make up before reaching this hundred-fold increase.
“Currently, ETH price is high because there are many developers and over 200 different projects running on top of the Ethereum PoS [proof-of-stake] blockchain. On the other hand, there are less than 10 projects on the ETHW.”
Rise of Forked Ethereum
Nevertheless, Guo disclosed that “the ETH proof-of-work chain already has two DEXs [decentralized exchanges], two bridges, and two NFT [non-fungible token] exchanges already launched,” which is evidence that work has begun to ensure the forked chain ultimately matches the PoS chain.
There has been an increase in the daily trading volume of the protocol since The Merge, and that’s not only because new exchanges and bridges have been built on the new chain. CMC statistics from September 21, 2022, show that the daily traded volume of ETHW was slightly over $100 million, while Guo claims that the true number is closer to $1 billion.
A group headed by Guo acknowledged the impending fork in the Ethereum chain less than a month before The Merge. The ETHW blockchain and Ethereumfair (ETF) appeared as soon as the switch to PoS was completed.
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