A little while ago, the Ethereum Foundation sent 3.48 million TAIKO coins to Bitcoin Suisse. These tokens are worth around $9 million. The market paid close attention to this move. When the Ethereum Foundation makes such significant investments, it’s often a sign that the market might change. There isn’t likely to be a clear effect on the price of Ethereum (ETH), though, since TAIKO tokens are being sent instead.
In the past, the Ethereum Foundation did important things that changed how well Ethereum’s market did. Investors may become worried or change their plans if the foundation makes significant changes to ETH. The market and the way buyers feel might change because of this.
ETH Price Stability Forecast
The price of Ethereum is likely to stay about the same for a while, even though this trade was very important. ETH is worth about $3,360 right now. It’s been a while since this key barrier level felt stable. If Ethereum can go above this price and stay above it, it could start a price-rise trend that will make prices go up even more.
The coin’s chart shows that it is getting close to the 50-day Exponential Moving Average (EMA). This means that it could go up from support levels. If momentum stays above this level for a while, it could mean that ETH is going up.
But trade has been pretty slow lately, which could make it harder for the asset to make a significant breakout. Even so, the basic ideas behind Ethereum are still strong. Long-term, the coin looks good because the network is still growing and more improvements are planned. A lot is going on in the Ethereum community as a whole, which makes people happy.
The Ethereum Foundation recently moved TAIKO coins. This is an interesting move, but it probably won’t change how the Ethereum market works right now. The success of the asset will depend on how the market changes and how the technology it uses grows.
