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Ethereum Proof of Work<\/strong> ETHW\/USD<\/span> is up 22%, making it the highest performer on CoinMarketCap’s daily gainers’ list.<\/p>\n What Happened: <\/strong>At the time of writing, Ethereum <\/strong>ETH\/USD<\/span> was trading at $1,272, down 1.15%. Apex crypto Bitcoin <\/strong>BTC\/USD<\/span> was trading below the $17,000 mark, down 1.27% in the past 24 hours.<\/p>\n ETHW <\/strong>is an asset born out of Ethereum\u2019s Merge in September<\/a>. It should be noted that ETH transitioned from proof-of-work to proof-of-stake, making the second largest cryptocurrency far more energy efficient by eliminating the need for miners and replacing them with validators, who stake crypto and don\u2019t utilize expensive energy-intensive machines to secure the network.<\/p>\n See More: <\/em>Best Crypto Apps<\/em><\/a><\/p>\n However, ahead of the Merge,\u00a0Chinese miner Chandler Guo<\/strong> launched <\/a>a campaign to oppose the move \u2014 the result was a completely new cryptocurrency via a hard fork that still uses proof of work mining.<\/p>\n ETHW Foundation said in a tweet that 2.5 months after the fork over 86 million active addresses hold the forked crypto.<\/p>\n Binance said\u00a0in September that it was releasing <\/a>an ETHW mining pool for its users, noting that users would not be charged fees until Oct.29 if they participated.<\/p>\n