ETHW (EthereumPoW) is an independent public chain that retains PoW consensus after Ethereum's transition to PoS mechanism in 2022, forked by the community. The following analyzes its current status and development from multiple dimensions, combined with the latest dynamics and community perspectives:

🔥 1. Market Performance and Capital Trends

ETF Institutions Enter

The US Ethereum spot ETF continues to attract capital, with Bitwise's $ETHW product seeing a daily net inflow of $13 million (July 19, 2025), reflecting institutional recognition of the value of PoW chains.

Price Fluctuations and Long-Short Games

Some investors view $ETHW breaking above $1 as a signal to short,

while others believe its market cap is expected to hit $15 billion.

The community has observed that ETHW's price increases are often accompanied by market corrections, earning it the nickname “new doomsday war chariot.”

Horizontal Comparison Advantages

ETC shows strong growth potential.

⛏️ 2. Mining Ecology and Technical Support

Mining Equipment Innovation

JASMINER X16-Q, with 8GB memory + low power consumption and high computing power, has become the top choice for ETHW mining, supporting multi-currency mining (including ETC).

PoW Ecology Expansion

Miners can utilize idle computing power to switch to ETHW, forming competitive alternatives to ETC, especially against the backdrop of high-performance equipment proliferation.

🌐 3. Ecological Development and Community Controversy

NFTs and On-Chain Applications

Projects like “ETHW Beetle” NFT once surged to 280 ETHW (about $600) and are regarded by some in the community as blue-chip NFTs among Chinese investors.

The mainnet operates independently, with a chain ID of 10001, and both RPC and browser are fully operational.

Value Discrepancy Focus

Supporters emphasize its decentralized gene, opposing the PoS transition led by the Ethereum Foundation.

Critics point out: the developer ecosystem is weak, relying on the original Ethereum codebase, and lacks innovation.

⚠️ 4. Risk Alerts and Strategic Recommendations

Volatility Risk

Some investors preset their bottom-buying price for $ETHW to be below $2, and need to be cautious of leveraged operations.

Ecological Competition Challenges

ETHW needs to break through the “miner chain” label and attract native applications like DeFi and GameFi.

It also needs to contend with ETC's narrative of being the “orthodox PoW chain.”

💎 Summary

The core value of ETHW lies in providing a sustainable battlefield for PoW believers; its technical feasibility and institutional capital inflow have been validated, but it must solve its ecological self-sustaining capabilities in the long term. Investors should pay attention to:

✅ The trend of miner computing power migration (such as JASMINER device penetration rate)

✅ Continuous inflow of ETF funds #山寨季來了？ #以太坊交易量反超比特币 #ETHW #加密立法新纪元 #