Just-In: Ethereum Foundation Moves Entire TKO Holdings To Bitcoin Suisse

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As a seasoned researcher with extensive experience in blockchain technology and digital assets, I find the Ethereum Foundation’s recent decision to transfer its entire TKO token holdings to Bitcoin Suisse an intriguing development. The transfer, which involved millions of dollars worth of tokens, occurred shortly after Taiko’s successful mainnet launch – a Layer 2 scaling solution for Ethereum.

The Ethereum Foundation has surprisingly moved all its TKO tokens to Bitcoin Suisse, a well-known crypto service platform for institutions. This transfer, valued in millions of dollars, took place shortly after the successful debut of Taiko’s mainnet – a Layer 2 scaling solution for Ethereum.

Ethereum Foundation’s Taiko Token Transfer

In a noteworthy development, the Ethereum Foundation has shifted all its TKO token assets to Bitcoin Suisse, a prominent crypto service provider for institutions. As per Arkham Intelligence’s reports, this transaction took place at 16:25 UTC+8 today.

Approximately 3.484 million TKO tokens, worth around $9.16 million, were transferred from the Ethereum Foundation’s wallet (0x97…dE4B) to Bitcoin Suisse’s hot wallet.

As a researcher studying the latest developments in the cryptocurrency world, I’ve come across an interesting update. Only a few weeks have passed since the Ethereum Foundation received tokens from the Taiko mainnet on June 28. After obtaining these tokens, they were moved to the Ethereum mainnet for further use in today’s transfer. It is noteworthy that Ethereum co-founder Vitalik Buterin had left an inspiring message on Taiko’s first genesis block, adding a significant milestone to their project.

Vitalik Buterin was thrilled about Taiko’s debut as a “foundational rollup” in his recent communication, praising its possible contributions to the Ethereum network. He added, “It’s beneficial for Ethereum that L2 (Layer 2) solutions adopt various strategies, and I’m glad Taiko is among the pioneers in this new approach.”

Market Impact and Recent Developments

As a researcher studying the cryptocurrency market, I’ve noticed that the transfer of Taiko (TAIKO) tokens has occurred concurrently with some volatility in their value. Currently, the price of TAIKO is at $2.57, and the trading volume over the past 24 hours amounts to $22.3 million. This equates to a minor decrease of 1.53% in one day and a more substantial decline of 7.96% over the last week. With a circulating supply of 63 million TAIKO tokens, the project’s market capitalization is estimated to be around $162.3 million.

Recent events bring new excitement: starting July 9, Bithumb introduced TAIKO trading in the Korean won market. This announcement sparked significant investor interest and activity, reflecting increasing focus on Ethereum Layer 2 solutions. With Bithumb’s rollout and Vitalik Buterin’s endorsement, Taiko has emerged as a prominent figure in the Ethereum scaling arena, despite temporary price volatility.

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2024-07-29 13:58