Buterin believes the merge can only be truly priced in after it happens.
Ethereum founder Vitalik Buterin in an interview on crypto-dedicated YouTube channel Bankless during EthCC, noted that he believes the Ethereum merge is yet to be priced in and can only be priced in after the transition occurs.
“I think it’s [The Merge] not going to be priced in pretty much until after it happens,” Buterin said, speaking with the Bankless host.
Notably, the Ethereum creator went on to clarify that he was not just talking about the price action of the asset. Instead, Buterin elaborates that he is also speaking about the psychological effect and narrative shift that will come with the long-anticipated Ethereum upgrade.
“You know, even today, a lot of people kind of act as though this environmental issue is this fatal flaw,” Buterin said.
“At this point, I think the only way to convince a huge number of people that it’s going to go somewhere is just by actually going there. Once that happens, it’s going to change a lot of minds.”
While the revolutionary Canadian programmer believes the merge is yet to be priced in, it is worth noting that it has driven a lot of market speculation in recent weeks, with strong price performances from Ethereum, Ethereum Classic, and Staked Ethereum.
On Thursday, as reported by The Crypto Basic, the Ethereum network saw a huge spike in the number of daily active addresses reaching 1.06 million to surpass the previous record by 48%.
As the merge approaches, developers are getting ready to launch the transition to proof-of-stake (PoS) on the final testnet. Lead developer Tim Beiko in a tweet on Wednesday, announced the timeline for the final testnet launch, saying it is scheduled to occur between August 6 to August 12.
📢📢📢 Goerli/Prater Merge Announcement 📢 📢📢
Prater will run through the Bellatrix upgrade on August 4th, and merge with Goerli between August 6-12th: if you run a node or validator, this is your last chance to go through the process before mainnet 🚨https://t.co/JAz5AJe12B
— Tim Beiko | timbeiko.eth 🐼 (@TimBeiko) July 27, 2022
The final testnet Goerli is scheduled to be merged with its version of the PoS Beacon chain called Prater within the outlined period. However, before this happens, Prater is expected to undergo an upgrade called Bellatrix on August 4. Finally, the Ethereum mainnet upgrade will take place on September 19 unless a major issue arises with the merge on the final testnet.
Ethereum remains above the $1,600 price point at the time of writing, up 11.82% in the last 24 hours and 10.11% in the last seven days.