Why “The Merge” Is Not Priced In, Says Ethereum Inventor Vitalik Buterin

News BTC

Ethereum and the crypto market slightly recovered some gains after the Federal Reserve (Fed) announced a 75-basis point (bps) interest rate hike. There was no surprise from the financial institutions, and the second crypto by market cap might be able to extend the bullish trend without external distractions.

Related Reading | TA: Bitcoin Price Restarts Increase After Fed Rate Hike But Resistance Intact

At the time of writing, Ethereum (ETH) trades at $1,640 with an 11% profit in the last 24 hours and a 7% profit over the past week. The cryptocurrency has reclaimed its position as the best-performing asset in the top 10 by market cap.

How To Get Free Crypto  
5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

ETH’s price moving sideways on the 4-hour chart. Source: ETHUSDT Tradingview

In an interview with Bankless, the inventor of Ethereum spoke about what could be the most bullish milestone for this blockchain since its inception: “The Merge”. The event that will complete ETH’s migration into a Proof-of-Stake (PoS) blockchain with the promise of bringing more scalability and better performance to the network.

For months, there has been an ongoing debate about the impact of this event on the price of Ethereum. Some market participants believe “The Merge” is already priced-in, meaning its impact is currently reflected on ETH’s price, others believe the opposite.

Buterin himself is amongst the former, he believes “The Merge” is not priced-in from a market and psychological standpoint. The positive impact of this event will have implications with the potential to ripple across the entire Ethereum ecosystem.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Get 110 USDT Futures Bonus for FREE!

These effects will kick in when “The Merge” has been deployed on the mainnet. Buterin said:

Coinbase Banner  

The Merge is looking more and more in the review mirror. It’s looking more and more like “hey, this things is going to actually happen and when it happens I expect (developer’s) morale is going to go way up (…). I basically expect that “The Merge” is not going to be priced-in, by which I mean not just in market terms, but in psychological, and narrative terms (…).

What “The Merge” Could Spell For The Price Of Ethereum

Once “The Merge” has been implemented, Buterin predicts that Ethereum will change a “lot of minds”. This could potentially hint at the surge in the adoption of this network’s ecosystem.

There has been a lot of talk about cryptocurrencies and their alleged negative impact on the environment. “The Merge” is set to reduce Ethereum’s carbon emissions by 99%.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

This could translate into more institutions and capital previously sidelined from the crypto space because of its environmental footprint thus, why this event might have profound implications in terms of adoption, price appreciation, and development.

Related Reading | TA: Ethereum Surges 15%, Why ETH Could Climb Above $1,700

On the latter, Buterin celebrated Ethereum’s capacity to improve its development speed across the years. After “The Merge”, ETH core developers will focus on scalability and building the infrastructure needed for mainstream adoption.

FreeBitcoin Banner  

Go to Source
Author: Reynaldo Marquez


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.