Ethereum
Ethereum Foundation Wallet Makes Large Transfer By U.Today
U.Today – The Foundation recently sent 3.48 million TAIKO tokens, worth about $9 million, to Switzerland. Large transfers from the foundation often indicate changes in the market. But since this transfer uses TAIKO tokens rather than ETH, Ethereum’s price shouldn’t be directly affected.
In the past, ETH market performance has fluctuated in response to large transfers from the Ethereum Foundation. This is due to the possibility that large sales or transfers of ETH by the foundation could raise suspicions or indicate a possible change in approach.
Nevertheless, the Ethereum market is not expected to be affected in the near future as this transaction uses TAIKO tokens. At present, the price of Ethereum is around $3,360. This level, which represents a significant barrier for the asset, has seen some consolidation in the price action.
Ethereum could establish an uptrend and open the door for further upward movement if it manages to break and sustain above this level. Ether is approaching the 50 EMA on the chart, indicating a bounce from its support levels. If the price is able to maintain its momentum, this move suggests a possible uptrend.
But Ethereum hasn’t seen much trading activity, so it may not have the support needed for a significant breakout. Ethereum’s underlying fundamentals remain strong despite the recent foundation transfer. The network and overall market sentiment appear to be experiencing strong activity. The continued development of the Ethereum ecosystem and impending upgrades contribute to the asset’s long-term bullish outlook.