Ethereum’s Merge FOMO isn’t priced in, making a spike to $2.6K a possibility
2022.06.03 00:41
Ethereum’s Merge FOMO isn’t priced in, making a spike to $2.6K a possibility
In a May 30 tweet, Ethereum (ETH) core developer Tim Beiko confirmed that the much-anticipated switch 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 this event has yet to be priced in, giving traders and investors a possible early entrant advantage.
Aggregated exchange inflow transaction Count. Source: intotheblockAggregated exchange inflow transaction count. Source: intotheblockETH/USD weekly chart (Coinbase (NASDAQ:COIN)). Source: TradingView
