The Ethereum blockchain's historic shift to proof-of-stake in 2022 paved the way for a contentious hard fork, resulting in the creation of Ethereum PoW (ETHW) — a community-driven continuation of the original proof-of-work consensus. Since its inception, ETHW has gained traction across major cryptocurrency exchanges, with platforms offering trading pairs, wallet support, and additional financial products.
This article provides a comprehensive overview of how leading exchanges have responded to the ETHW fork, detailing wallet snapshots, trading availability, deposit and withdrawal support, and added incentives for traders.
What Is Ethereum PoW (ETHW)?
Ethereum PoW (ETHW) emerged as a direct result of the Merge, Ethereum’s transition from proof-of-work to proof-of-stake. While most of the network adopted the new consensus mechanism, a segment of miners and users opposed the change, leading to the creation of ETHW as a fork that preserves mining capabilities.
Holders of ETH prior to the fork were typically eligible to receive an equal amount of ETHW, based on exchange-specific snapshot times. The distribution and trading support varied significantly across platforms.
👉 Discover how top exchanges handle blockchain forks and reward eligible users.
Exchange-by-Exchange Breakdown of ETHW Support
Binance: Snapshot Completed, Distribution Underway
Binance conducted a snapshot of user ETH balances at 14:42:42 (UTC+8) on September 15, 2022. Eligible users received ETHW at a 1:1 ratio relative to their net ETH holdings at that moment. The tokens were distributed directly into users' spot wallets, with no action required from account holders.
While Binance has completed the distribution process, it initially delayed withdrawals and deposits for ETHW. Updates regarding full functionality were announced via official channels once technical integration was finalized.
Binance’s approach reflects its standard protocol for handling forks: prioritize user safety, ensure network stability, and enable full services only after thorough testing.
FTX: Early Support with Limited Withdrawals
FTX was among the first major exchanges to support Ethereum PoW. The platform distributed ETHW tokens shortly after the fork and quickly listed spot trading pairs such as ETHW/USD and ETHW/USDT.
However, despite enabling trading, FTX did not immediately open deposit or withdrawal functions for ETHW. This limitation restricted users from transferring assets off-platform, a common precaution during early post-fork periods when network congestion and replay attacks are possible.
Although FTX’s operations have since undergone significant changes, this early move highlighted the exchange’s responsiveness to market demand for alternative chains.
Huobi Global: Full Trading Access and Promotional Incentives
Huobi Global moved swiftly to support ETHW, completing both token distribution and spot listing shortly after the fork. Beyond basic trading access, Huobi launched a promotional campaign rewarding active ETHW traders.
Users could participate in a 10,000 USDT prize pool by increasing their ETHW trading volume over a one-week period. Such initiatives not only boosted liquidity but also encouraged broader adoption of the newly forked asset.
Huobi’s strategy exemplifies how exchanges can use targeted campaigns to drive engagement around emerging cryptocurrencies — particularly those born from high-profile network splits.
Bybit: Trading and Deposits Enabled, Withdrawals Delayed
Bybit opened ETHW spot trading pairs early in the post-fork window and activated deposit functionality, allowing users to transfer their tokens onto the platform. However, withdrawal support was delayed, meaning users could not immediately move ETHW off the exchange.
This phased rollout is typical in the industry — exchanges often wait for sufficient network confirmations and node stability before enabling withdrawals to prevent loss of funds due to chain instability or bugs.
Bybit’s cautious yet proactive stance ensured traders could access liquidity while minimizing operational risk.
OKX: Comprehensive Product Suite for ETHW
OKX (formerly OKEx) offered one of the most robust responses to the ETHW fork. The exchange not only supported the initial 1:1 airdrop based on pre-fork ETH balances but also rapidly expanded its product offerings.
On September 16, OKX announced the launch of:
- Leveraged trading for ETHW
- Savings products (e.g., "Flexible Savings" or "余币宝")
- USDT-margined perpetual contracts
These additions positioned ETHW as more than just a tradable asset — it became part of a broader financial ecosystem within the exchange.
👉 See how advanced trading tools enhance opportunities during blockchain transitions.
Core Keywords Identified
To align with search intent and improve discoverability, the following keywords have been naturally integrated throughout this article:
- Ethereum PoW
- ETHW
- Ethereum fork
- crypto exchange support
- ETHW trading
- proof-of-work blockchain
- post-Merge crypto
- blockchain hard fork
These terms reflect common queries from users seeking information about where and how they can trade or claim ETHW following major network events.
Frequently Asked Questions (FAQ)
Q: What is the difference between Ethereum (ETH) and Ethereum PoW (ETHW)?
A: Ethereum (ETH) transitioned to a proof-of-stake consensus mechanism after the Merge in 2022. In contrast, Ethereum PoW (ETHW) continues using proof-of-work, allowing mining and preserving the pre-Merge ruleset. They are separate blockchains with different consensus models and development paths.
Q: Did I need to take action to receive ETHW if I held ETH on an exchange?
A: No — if you held ETH on a supporting exchange like Binance or OKX at the time of their snapshot, you automatically received ETHW. No manual claiming was required for most centralized platforms.
Q: Can I still trade ETHW today?
A: Yes, ETHW remains actively traded on several major exchanges including Huobi, Bybit, and OKX. Liquidity varies by platform, but spot and derivatives markets continue to operate.
Q: Why didn’t all exchanges support ETHW?
A: Some exchanges chose not to support ETHW due to concerns over centralization risks, low miner participation, or lack of long-term viability. Others supported it to meet user demand or capitalize on short-term trading volume.
Q: Is mining ETHW still profitable?
A: Mining profitability depends on hardware costs, electricity rates, and network difficulty. While initial mining rewards attracted many former Ethereum miners, returns have decreased over time due to market dynamics and reduced hash rate competition.
👉 Explore current market conditions and assess potential opportunities in proof-of-work assets.
Final Thoughts
The emergence of Ethereum PoW (ETHW) tested how quickly and effectively major crypto exchanges could adapt to unexpected network splits. Platforms like Binance, Huobi, Bybit, and OKX demonstrated varying levels of support — from basic airdrops to full derivatives integration.
For users, understanding each exchange’s policy on forks is crucial for maximizing benefits and managing risks. As blockchain ecosystems evolve, similar events may occur with other networks, making awareness and preparedness essential.
Whether you're a trader, miner, or long-term holder, staying informed about exchange responses ensures you’re ready to act when the next major fork happens.