Vitalik Buterin, the co-founder of Ethereum, has recently emphasized that the much-anticipated merge of ETH 1.0 and ETH 2.0 is not going to be priced in until it happens.
Vitalik said this in a recent interview on a YouTube channel known as Bankless during Ethereum Community Conference (EthCC).
We Are On Twitter: Follow Us
For clarification, the Ethereum co-founder pointed out that the words “priced-in” is not only for the price action of the digital token ETH but also for its effect in the minds of people who have been waiting patiently for the major upgrade to happen.
Vitalik Buterin noted:
“I think it’s not going to be priced in pretty much until after it happens… You know, even today, a lot of people kind of act as though this environmental issue is this fatal flaw…
“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.”
Vitalik added that the morale around Ethereum developers is all genuine now, compared to 2018 and 2019 when the Ethereum elites forced high morale to make developers work as expected.
Is the Merge Impacting Market Right Now?
Although the Russian-Canadian programmer believes that the merge is not yet priced in both market terms and in psychological narrative terms, it’s worth noting that it has initiated lots of market speculation in recent weeks.
The anticipation of the Merge has driven strong Ethereum price performance. It’s also impacting the staked Ethereum (ETH).
Also, Ethereum Classic (ETC), a digital token forked from Ethereum (ETH) has been printing an outstanding price performance over the past few days. Attention was shifted to this crypto project after it got recommended by Vitalik for users who want proof of work (PoW) projects.
At the time of filing this report, ETH is trading at $1,619, with about an 11% price upsurge in the last 24 hours.