Floki is soon looking to burn a major portion, and inventors are pooling their resources ahead of the deadline. The goal is to get on board before the great act goes live. This has pushed the total value locked to more than $9 million, an increase of 127% in just four days.
The increase reportedly happened on January 26, 2023, from the previous figure of $4.04 million. Users maintain their financial security by securing their assets in the protocol.
Floki announced the news via its official Twitter account, announcing that Floki and the Floki Vikings had arrived to take over. This tweet came to light after Floki’s entire value was locked in at $9,221,005, to be precise, of the $9+ million number. Floki has reached a significant milestone in its ambition to become one of the industry’s leading crypto lockers.
Equal attention is placed on the FLOKI token by ensuring its widespread utility within the ecosystem. This development is intriguing due to the fact that $FLOKI is going close behind $BTC in second place. Following the token are $SHIB and $ETH. Based on the CoinMarket Community, these rankings are accurate as of January 29, 2023.
In recent days, centralized exchanges have begun to recognize Floki for the magic it has brought to the market. According to speculations, Binance may soon purchase Floki tokens as a result of their partnership, in which Binance has pledged to assist with the payment mechanism at the Floki merchandise store. Obviously, this is simply a rumor, as neither party has confirmed anything.
The Floki token has now fallen below the $9 million mark. It can be seen dancing at $8.7 million, with an average holding of $8k. A large portion of the investment is on Ethereum, where more than $6 million in total value is locked. Users are still bringing a large sum to the protocol ahead of its burning process.
Members of the community have expressed their happiness with the news. Some have said Floki deserves this spot, while others speculate that something big could happen in the next two weeks.
Elon Musk announced the name “Floki” for his Shiba Inu puppy. Little did everyone know that it would bring several Floki dogcoins, with Floki Inu being the most famous one. Floki Inu is currently ranked third on the list of meme coins. It competes with Dogecoin and Shiba Inu for the top two spots. Crypto enthusiasts and a strong marketing campaign back Floki.
Floki has often been described as “people’s cryptocurrency,” with the utility spreading across the Floki ecosystem. Projects on the protocol include Valhalla, FlokiFi, and FlokiPlaces, to name a few. It is based on three pillars: Community, Utility, and Charity.
Hitting a milestone of $9+ million in TVL is a push toward achieving its mission.