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Ethereum’s Merge FOMO isn’t priced in, making a spike to $2.6K a possibility

Published 06/02/2022, 04:00 PM
Updated 06/03/2022, 06:20 PM
Ethereum’s Merge FOMO isn’t priced in, making a spike to $2.6K a possibility
ETH/USD
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In a May 30 tweet, Ethereum (ETH) core developer Tim Beiko confirmed that the much-anticipated Ropsten testnet trial of the Merge from proof-of-work to proof-of-stake can be expected “around June 8 or so.”

Interestingly, Ether's price action is relatively unchanged despite the unexpected bullish announcement. There was a +10% spike on May 30, but those gains were given back between May 31 and June 2. It is very likely that the Merge — currently anticipated in August — has yet to be priced in, giving traders and investors a possible early entrant advantage.

Aggregated exchange inflow transaction count. Source: IntoTheBlock
Aggregated exchange outflow transaction count. Source: IntoTheBlock
ETH/USD weekly chart. Source: TradingView

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