Taiko (TAIKO) is a quickly emerging cryptocurrency that hasactually captured the eye of numerous financiers. Ethereum Foundation hasactually moved its whole stash of TKO tokens to Bitcoin Suisse, a top-tier crypto service company.
This deal, valued at around $9.16 million, includes 3.484 million TKO tokens and follows a series of current advancements with the Taiko task. While numerous are questioning about the specific factor behind such a transfer.
Details of the Transfer
According to blockchain tracking service Arkham Intelligence, the transfer was carriedout from the Ethereum Foundation’s wallet address to Bitcoin Suisse’s hot wallet with nearly 3.484 million TKO tokens, valued at around $9.16 million.
Meanwhile, this follows the Foundation’s invoice of these tokens from the Taiko mainnet on June 28.
After getting the tokens, they were cross-chained to the Ethereum mainnet before today’s transfer. Perhaps, the timing of the transfer corresponds with some volatility in the Taiko (TAIKO) token market.
As of now, TAIKO is trading at $2.55, proving a 3.3% reduction over the past 24 hours. With 63 million TAIKO tokens in bloodcirculation, the task’s market capitalization stands at about $162.3 million.
Vitalik Buterin’s Support for Taiko
Notably, Ethereum co-founder Vitalik Buterin had earlier applauded Taiko’s launch, highlighting its possible effect on