Despite the fact that ETHW is not listed on Binance, the exchange yesterday declared that it will launch an Ethereum Proof-of-Work mining pool. The merge changed the Proof-of-Work mechanism in Ethereum's network to the more scalable and environmentally friendly Proof-of-Stake mechanism. ETHW, on the other side, is the fork of Ethereum that will keep using the original Proof-of-Work algorithm. Supporters of PoS (ETH) frequently criticize PoW for its enormous energy consumption during mining.
At the time of writing, the price of ETHW on September 29 is $11.968, an increase of 11.38% (during the previous 24 hours). It's important to note that on September 15, when the merger took place, ETHW was trading at $9.13, down 71.55% from the previous day. We might be able to witness a more significant price increase in the near future when more centralized exchanges establish and list ETHW mining pools.
Supporters of PoW think that PoW offers a higher level of security. Additionally, nearly 40% of the total energy utilized in mining worldwide is renewable energy, according to Smart Energy. MEXC Global lists ETHW to provide users the option to select between PoW and PoS.