Ethereum co-founder Vitalik Buterin said in an interview with a YouTube channel that he thinks Ethereum will be priced in after the successful completion of the network transition with the realization of “Merge”, which is seen as the most important update of Ethereum. In this statement, Buterin underlined that he does not only talk about the price action of ETH, but also mentioned that this long-awaited update will psychologically relax the users.

Although Vitalik Buterin thinks that Ethereum is not priced yet, Ethereum Classic (ETC) and Lido Staked Ether (stETH) have seen significant increases in recent weeks, along with the price of ETH. In this price performance, which is thought to be effective due to the Merge update, Ethereum has seen an increase of 34 percent, Ethereum Classic, 105 percent and Lido Staked Ether, 34 percent since the beginning of the month.

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Especially after the transition of Ethereum to the proof-of-stake model, the Ethereum fork Ethereum Classic will continue in the proof-of-work model, and the thought that it will accelerate the transition of miners to this crypto currency has caused the demand for ETC to be much higher. Prior to the Merge update, which is expected to take place in September, the Ethereum network has seen a huge increase in the number of addresses per day, reaching 1.06 million recently, surpassing the previous record by 48%.

On the other hand, as network convergence draws near, developers are pretty close to initiating the transition to proof-of-stake (PoS) on the final testnet. Lead developer Tim Beiko said on Twitter yesterday that the final testnet is scheduled to take place between August 6 and August 12.

Ethereum (ETH) has risen 11 percent amid a general uptrend in the last 24 hours as the Fed's interest rate decision came in line with expectations and is currently trading at $1,620. Accordingly, Ethereum increased its value increase to 10 percent on a weekly basis.