Justin Sun Starts Trading Ethereum Potential Hard Fork Tokens Earlier Than Scheduled

Justin Sun Launches Trading For Ethereum Hard Fork Tokens Earlier Than Scheduled

On Sunday, August 7th, Justin Sun surprised traders as he opened up trading for “potential forked” Ethereum (ETH) tokens ETHW and ETHS via his Poloniex crypto exchange, a full day earlier than originally scheduled.

“We planned to go live on August 8th, but after strong community demand, we managed to deliver the product 18 hours early to go live on August 7th at 4 pm SGT,” tweeted Sun, the founder of the Singapore-based Tron.  

Furthermore, Sun’s company offers zero trading fees on all the ETHW/ETHS trading pairs. 

Responding to Criticism from Ethereum Founder Vitalik Buterin

In another tweet, Sun referenced a statement made by Ethereum Co-Founder Vitalik Buterin, about how “people are trying to make a quick buck” by pushing for a hard fork of ETH, saying: “I need to clarify that Poloniex supports ETH hard fork solely for the public good and not for profit at all.”

Sun added: "If the hard fork succeeds, everyone on Ethereum will get ETHW tokens, without any pre-mining.” He went on to insist that “Vitalik will get exactly the same proportion of ETHW as I and everyone do.”

On the Flipside

  • The Ethereum hard fork received less support than many had in the crypto community had expected, and failed to gain the kind of traction initially projected.

Why You Should Care

Sun plans to donate forked ETH to Ethereum developers to build the Ethereum ecosystem.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Akriti is a Zurich-based reporter, focused on the political, regulatory, and legislative developments around crypto. She is a business journalist with over six years of experience working as a correspondent for organizations like Channel NewsAsia and Bloomberg TV India. In that time, Akriti has covered news in the finance, pharma, and state sectors.