For the reason that cryptocurrency launched ethereumpow (ETHW) has seen spot market costs decline by near 12% over the last seven days. Even though over the last two weeks ETHW has shed 35% in USD worth, the community’s token economic system and decentralized finance (defi) ecosystem has swelled.

ETHW Spot Market Costs Slide, Whereas the Community’s Whole Worth Locked in Defi Climbs

Ethereumpow (ETHW) markets haven’t been so scorching in current occasions and for the reason that crypto asset’s worth was recorded earlier than the mainnet went reside, ETHW is down roughly 88% from the all-time excessive recorded two months in the past on September 3, 2022.

Over the last two weeks towards the U.S. greenback, ethereumpow (ETHW) has shed round 35% in worth. On Tuesday, October 18, 2022, the crypto asset has been exchanging arms for $6.94 to $7.34 per unit over the last 24 hours.

While ETHW Has Lost 35% in 2 Weeks, PoW Network’s Defi TVL Swelled by More Than 1,200%
ETHW/USD chart on October 18, 2022.

Moreover, after capturing near 70 terahash per second (TH/s) of hashrate, ETHW’s whole hashpower worldwide is right down to 37.66 TH/s. Whereas the community’s native crypto asset ETHW has carried out poorly market-wise in current occasions, ETHW’s whole worth locked (TVL) in defi has skyrocketed.

Statistics from defillama.com point out that ETHW’s TVL is round $3.69 million after data present on September 24, that the TVL was $283,153. Which means that since September 24, or over the past 24 days, ETHW’s TVL in defi elevated in worth by 1,209%.

While ETHW Has Lost 35% in 2 Weeks, PoW Network’s Defi TVL Swelled by More Than 1,200%
ETHW whole worth locked (TVL) in decentralized finance (defi) on October 18, 2022.

Defillama.com stats point out that there’s roughly 13 completely different ETHW defi protocols devoted to the community. The decentralized trade (dex) Uniwswap, to not be confused with Uniswap, is the biggest defi protocol on ETHW immediately with 52.13% dominance of the present $3.69 million.

The dex platform has round $1.92 million in response to knowledge recorded on October 18. The second-largest ETHW defi-related protocol Lfgswap has round $1,404,733 in worth locked. Which means that Uniwswap and Lfgswap dominate most of ETHW’s defi ecosystem by way of TVL.

While ETHW Has Lost 35% in 2 Weeks, PoW Network’s Defi TVL Swelled by More Than 1,200%
The highest 13 defi protocols by way of whole worth locked on October 18, 2022, throughout the ETHW ecosystem.

ETHW has roughly a dozen tokens with the whole ETHW token ecosystem (together with ETHW) valued at roughly $800 million. The ETHW protocol is quantity 83 by way of positions held by TVL in defi immediately, whereas Ethereum Traditional (ETC) community is round 119 immediately. ETC’s defi ecosystem is way smaller than ETHW’s, by way of TVL dimension, as defillama.com metrics present Ethereum Traditional’s TVL immediately is $537,243 amongst 5 completely different defi protocols.

Many of the ETC TVL is held between two defi protocols on that leverage the Ethereum Traditional chain which embody Hebeswap and Etcswap. ETC’s worth in comparison with ETHW’s is quite a bit bigger and the asset’s $3.24 billion market cap can also be colossal in comparison with the newly launched crypto asset.

Tags on this story
$3.69 million, 1200% climb, 35% down, crypto market Statistics, decentralized exchange (dex), decentralized finance, DeFi, Defi Statistics, defillama.com, Dozen Tokens, ETC apps, ETC Defi, ETC Tokens, ETHW, ETHW Defi, ETHW Tokens, Lfgswap, Markets, Native Crypto, Spot Markets, Statistics, Uniwswap

What do you concentrate on ETHW’s current spot market motion and the community’s defi TVL growing throughout the previous couple of weeks? Tell us what you concentrate on this topic within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency group since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising immediately.




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