FLOKI is today’s best-performing altcoin, as its price jumped 30% amid a boosted search trend on Binance.
Floki unveiled on X that it made it back to the top 100 coins by market capitalization. This feat came following the 30% surge in price to $0.00004012. Overnight, the trading volume of FLOKI also soared 101% to $346,337,681 as market capitalization jumped 26% to $380,541,869.
$FLOKI is back in the top 100 of all #cryptocurrencies! ?
We're the 97th biggest cryptocurrency according to top crypto data platform @CoinMarketCap!
This is as excitement continues for the launch of our staking program and @TokenFi / $TOKEN sister token tomorrow! https://t.co/bKb9iSOpfy pic.twitter.com/z2BzTwNe6P
— FLOKI (@RealFlokiInu) October 26, 2023
Why is FLOKI on Rampage?
The growth of FLOKI stems from the optimism in its ecosystem following the announcement of its latest offshoot, TokenFi. Floki introduced TokenFi as a tokenization platform billed to compete in the industry projected to top $16 trillion in valuation by 2030.
Considering the observable growth, the big plans from Floki appeased members of its community, who went on a buying spree, pushing the token’s price to its highest level since May.
At the time of the team’s disclosure, FLOKI ranked as the 97th biggest crypto asset. However, at press time, the altcoin’s resurgence now pegs it as the 89th largest token atop a 115% growth in the past week.
With this upsurge, FLOKI now ranks higher than prominent altcoins like SUI, Terra Classic (LUNC), and DASH.
The sentiment surrounding TokenFi’s launch and the big reveal about its staking program boosted its search outlook on Binance. This search volume, which places it as the fourth most searched crypto, is in tandem with the overall trading volume, suggesting increased interest among investors.
Significance of TokenFi
The launch of TokenFi is pivotal to the push by Floki to maintain relevance in the Web3 ecosystem. According to the Floki team, users can earn TOKEN from staking their FLOKI shortly after TOKEN starts trading.
This way, it can compete with Shiba Inu, which launched Shibarium in August, and BabyDoge, which unveiled its Play-to-Earn game in March.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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