JUST-IN: Ethereum Foundation Makes Big Move, Transfers Over 3M TKO Tokens to Bitcoin Suisse
The Ethereum Foundation has transferred its entire holdings of TKO tokens to Bitcoin Suisse. This unexpected move, involving tokens worth millions of dollars, comes on the heels of the successful launch of Taiko’s mainnet.
The Ethereum Foundation moved 3.484 million TKO tokens, valued at approximately $9.16 million, to Bitcoin Suisse, data from Arkham Intelligence reveals. This transfer occurred at 16:25 UTC+8. The tokens were moved from the Ethereum Foundation’s wallet address to Bitcoin Suisse’s hot wallet. This transfer comes just weeks after the Ethereum Foundation received these tokens from the Taiko mainnet on June 28. Following their receipt, the tokens were cross-chained to the Ethereum mainnet before today’s transfer.
Vitalik Expresses Optimism for the Future of Taiko’s Launch
This move is seen as a significant milestone for the Ethereum Foundation. Ethereum co-founder Vitalik Buterin had earlier left an encouraging message on Taiko’s first genesis block. In his message, Buterin expressed enthusiasm for Taiko’s launch as a “based rollup” and its potential impact on the Ethereum ecosystem. He stated, “Ethereum benefits from L2s taking a plurality of different approaches, and I appreciate them being among the first to go in this direction.”
This launch could influence other organizations within the crypto space to consider similar strategic decisions. It’s like a domino effect, where one significant event triggers a series of related occurrences.
The future of TKO tokens is now more intriguing than it was in the past. With the Ethereum Foundation transferring its entire holdings to Bitcoin Suisse, a new dawn for TKO tokens may be here. Investors and market analysts are closely watching the impact of this move on the value and utility of TKO tokens.
Market Shows Uptick
The transfer coincides with some market fluctuations for Taiko (TAIKO) tokens. As of writing, per CoinMarketCap data, TAIKO token is priced at $2.57. In the last 24 hours, TAIKO tokens worth $22.3 million have been traded. This shows a slight decrease of 1.53% in the token’s value since yesterday and a more noticeable fall of 7.96% over the last week. Considering the total number of TAIKO tokens in circulation, which is 63 million, the overall market value of the project is around $162.3 million.
In related news, recently, Bithumb started allowing people to trade TAIKO using Korean won on July 9. This move got a lot of attention from investors and caused a surge in trading activity. It shows that people are more interested in solutions that help Ethereum work better. Even though the price of TAIKO has fluctuated, its launch on Bithumb and support from Vitalik Buterin have made it an important part of the Ethereum scaling landscape.
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