In a recent tweet on October 29th, FLOKI, the popular cryptocurrency, announced a significant achievement in the world of staking. In just 48 hours since the launch of Floki’s staking program, users have collectively staked an impressive $41.35 million worth of tokens.
These staked tokens are committed for at least 3 months, with some locked up for as long as 4 years. This milestone effectively removes more than 12% of the circulating FLOKI supply from circulation, setting the stage for a thrilling future for the cryptocurrency.
On October 27th, FLOKI enthusiasts rejoiced as the staking program went live on the Binance Smart Chain (BNB) and Ethereum (ETH) mainnets. Participants in the staking program can earn TokenFi (TOKEN) tokens on both of these popular blockchain networks.
Astonishingly, 56% of TokenFi’s supply has been allocated to the token stakers, offering a unique opportunity to become early beneficiaries of TokenFi’s potential success.
Moreover, the FLOKI community has reason to celebrate as the TokenFi tax has been lowered to a mere 5%. In the coming week, a Floki DAO proposal will be presented, allowing the token stakeholders to decide whether to reduce this tax to just 1% or even eliminate it. This flexibility is a testament to the project’s commitment to its community.
FLOKI Current Market Status & Projections
As the broader cryptocurrency market experiences significant price fluctuations, the token has emerged as a standout performer. In the past week, the token has demonstrated a remarkable 40% increase in its price, making it the industry’s top gainer during this period.
Presently, according to CoinMarketCap, the token is trading at $0.000036 with a 24-hour trading volume of $71 million, though it has experienced a recent decline of 33.20%. FLOKI is ranked at #99 with a market capitalization of $338 million. The coin boasts a circulating supply of 9,496,919,129,327 tokens, with the maximum supply remaining undisclosed.
Looking ahead, the market prediction for the token appears to anticipate a slight decrease, with a projected price of $0.00003306 by November 3rd, 2023, as per CoinCodex.
However, technical indicators suggest that the current market sentiment is bullish, and the Fear & Greed Index stands at 68, indicating greed among investors. Over the last 30 days, the token has experienced 18 out of 30 days with gains, showcasing price volatility of 28.53%.
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