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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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  • NFT
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    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

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  • Blockchain
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    What is Cloud Mining? A Beginner’s Guide

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  • Analysis
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Home Altcoins

Here’s what sets Floki apart from the other memecoins

March 3, 2024
in Altcoins
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Here’s what sets Floki apart from the other memecoins
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  • FLOKI saw a 104% spike in the last 24-hour period. 
  • Floki’s rising TVL was yet to reflect on its market valuation.

The total value of Floki [FLOKI] tokens locked on the platform’s four month-old staking program smashed above $300 million, after a parabolic jump in the memecoin’s market price in the last 24 hours.

The dog-themed token was exchanging hands at $0.0001187  at press time, marking a 104% spike in the 24-hour period, according to CoinMarketCap.

AMBCrypto tracked Floki’s official staking portal, showing 1.4 trillion deposited on Ethereum [ETH] and a trillion locked up on the BNB Chain [BNB].

The staked amount equated to 26% of FLOKI’s total circulating supply, meaning that a sizable chunk of the meme coin, modelled on Elon Musk’s Shiba Inu dog, lied off-limits for market traders.

The motivation behind staking

In a recent post, Floki claimed that it was the only major memecoin with such a significant share of its supply staked.

High yields, going up to 34% for a locking period of four years, was driving the surge in deposits. The longer the staking duration, the higher the annual percentage yield (APY) earned.

Floki staking APY

Source: staking.floki.com

The motivation to stake coins was also driven by Floki’s asset tokenization platform TokenFi [TOKEN].

When users stake their FLOKI tokens, they earn TOKEN as a reward. The sister project was launched to capture a slice of the growing industry which involves representing real-world assets as tokens on a blockchain.

Despite advantages, FLOKI has lagged

Apart from staking, some of the other projects in the ecosystem were also boosting the overall TVL. FlockiFi, used for securely locking tokens and NFTs, boasted of a TVL of over $111 million at press time.

See also  Zcash To Enhance User Protection With Partnership

How much are 1,10,100 FLOKIs worth today?


Unlike some of its competitions, Floki has had a utility-oriented approach towards adoption. In fact, it created products such as NFT-based games, NFT collections, and even a crypto debit card.

However, despite these advantages, it has trailed other meme projects in terms of trading and speculation. At press time, it was the sixth-largest meme coin in market cap, behind Pepe [PEPE] which offered no real-world utility.

Previous: Top trending cryptos of the week – BTC, PEPE, HOOK
Next: Bitcoin crosses $62k, but should you be cautious of a reversal?

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

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  • FLOKI saw a 104% spike in the last 24-hour period. 
  • Floki’s rising TVL was yet to reflect on its market valuation.

The total value of Floki [FLOKI] tokens locked on the platform’s four month-old staking program smashed above $300 million, after a parabolic jump in the memecoin’s market price in the last 24 hours.

The dog-themed token was exchanging hands at $0.0001187  at press time, marking a 104% spike in the 24-hour period, according to CoinMarketCap.

AMBCrypto tracked Floki’s official staking portal, showing 1.4 trillion deposited on Ethereum [ETH] and a trillion locked up on the BNB Chain [BNB].

The staked amount equated to 26% of FLOKI’s total circulating supply, meaning that a sizable chunk of the meme coin, modelled on Elon Musk’s Shiba Inu dog, lied off-limits for market traders.

The motivation behind staking

In a recent post, Floki claimed that it was the only major memecoin with such a significant share of its supply staked.

See also  Should Blur investors be concerned about the dip in prices?

High yields, going up to 34% for a locking period of four years, was driving the surge in deposits. The longer the staking duration, the higher the annual percentage yield (APY) earned.

Floki staking APY

Source: staking.floki.com

The motivation to stake coins was also driven by Floki’s asset tokenization platform TokenFi [TOKEN].

When users stake their FLOKI tokens, they earn TOKEN as a reward. The sister project was launched to capture a slice of the growing industry which involves representing real-world assets as tokens on a blockchain.

Despite advantages, FLOKI has lagged

Apart from staking, some of the other projects in the ecosystem were also boosting the overall TVL. FlockiFi, used for securely locking tokens and NFTs, boasted of a TVL of over $111 million at press time.


How much are 1,10,100 FLOKIs worth today?


Unlike some of its competitions, Floki has had a utility-oriented approach towards adoption. In fact, it created products such as NFT-based games, NFT collections, and even a crypto debit card.

However, despite these advantages, it has trailed other meme projects in terms of trading and speculation. At press time, it was the sixth-largest meme coin in market cap, behind Pepe [PEPE] which offered no real-world utility.

Previous: Top trending cryptos of the week – BTC, PEPE, HOOK
Next: Bitcoin crosses $62k, but should you be cautious of a reversal?
Tags: FlokiHeresMemecoinssets

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