- Floki has launched a cryptocurrency and asset tokenization platform named TokenFi.
- TokenFi also announced that trading on the platform will commence today at 3 PM UTC.
- At press time, FLOKI was worth $0.00003885 after its price surged by over 24% in the past day.
Floki’s (FLOKI) price surged throughout the past day after the project’s team announced on X yesterday that Floki has launched a cryptocurrency and asset tokenization platform named TokenFi. It seems like the project is looking to take advantage of the multi-trillion-dollar tokenization sector.
The tokenization industry is predicted to reach $16 trillion by 2023. Even BlackRock, the world’s biggest institutional investor, is excited about the possibilities in the Tokenization sector and considers it the “next market revolution.”
The post from the TokenFi X page also revealed some details about the project’s token named TOKEN. 10 billion tokens will be split across the Binance Smart Chain (BSC) and Ethereum (ETH), each holding 5 billion tokens.
The amount of circulating tokens is currently valued at $50,000, while the project will have a diluted market cap of $500,000. TokenFi has allocated an initial 10% of its token supply to Liquidity Pools on Uniswap and PancakeSwap, ensuring public liquidity and facilitating trading for those who are interested in trading.
Traders should mark their calendars, as trading is set to commence on Uniswap and PancakeSwap at 3 PM UTC on 27 October 2023. So far, it seems like the announcement has been received well by FLOKI fans.
The cryptocurrency market tracking website CoinMarketCap indicated that FLOKI’s price jumped by more than 24% since yesterday. This meant that the meme token was trading at around $0.00003885 at press time after it was able to set a 24-hour high price of $0.0000417.
FLOKI’s price surge came after a successful week after the token’s price increased by over 110% in just seven days. It is likely that the interest of traders is gravitating towards FLOKI because of the amount of new developments surrounding the project.
FLOKI’s intraday volume settled at around $334.03 million after it rose by 97.68% throughout the past day. The token’s market capitalization increased to $372.87 million, which ranked FLOKI as the 93rd largest cryptocurrency.
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