Rough start for Ethereum post-Merge. Downward pressure has caused ETHW to drop in price amid ChainID fiasco.
, went live on Sept. 15. However, the chain suffered technical issues after the launch, which put downward pressure on its ETHW token.The price of ETHW has dropped by 65% since ETHPoW's launch to around $14 on Sept. 16, according to CoinMarketCap. At its lowest, the token was changing hands for $9.50.The losses coincided with a technical issue related to ETHPoW's ChainID.
ChainIDs are identifiers that help users identify one blockchain from another. Thus, ETHPoW required a new ChainID to separate its transaction data from the original Ethereum blockchain after the Merge, otherwise, it risked creating duplicate transactions.
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