Ethereum Foundation Moves $9.16 Million TKO Tokens to Bitcoin Suisse
The Ethereum Foundation made a significant financial move by transferring its TKO tokens to the leading institutional crypto service provider Bitcoin Suisse. According to Arkham Intelligence, this transaction involves 3.484 million TKO tokens and is worth approximately $9.16 million. The transfer was carried out at 16:25 UTC+8. This move came shortly after the Ethereum Foundation acquired these tokens from the Taiko mainnet on June 28.
During the launch of the Taiko mainnet, Ethereum co-founder Vitalik Buterin delivered an encouraging message, highlighting Taiko's potential contributions to the Ethereum ecosystem. Buterin appreciated Taiko's different approaches to Ethereum's scalability, saying: "Ethereum benefits from adopting diverse approaches to L2 solutions, and I appreciate Taiko's first steps in this direction."
The Ethereum Foundation's TKO token transfer intersects with the market activity of Taiko (TAIKO) tokens. Currently trading at $2.57, TAIKO is down 1.53% in the last 24 hours and is down 7.96% on a weekly basis. However, Taiko's competitive presence in the Ethereum Layer 2 solutions market remains. These transfer and market movements are of great importance in understanding Ethereum's position in the overall field of scaling solutions.
Bithumb Launches TAIKO Trading in the Korean Market
Along with the Ethereum Foundation's strategic moves, Bithumb's launch of TAIKO transactions in the Korean won market on July 9 has further increased Taiko's importance in the Ethereum Layer 2 scaling sector. These developments, combined with Vitalik Buterin's support, continue to make Taiko's market presence attractive, despite the current price volatility.
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