Century Mark: Floki Breaks Into Top 100 Tokens With $500M Market Cap
The Viking community is celebrating as the market cap of Floki (FLOKI) surged past $500 million, propelling the MemeFi token into the top 100 largest cryptocurrencies. FlokiFi, the Decentralized Finance (DeFi) protocol associated with the token, has also seen a surge in Total Value Locked (TVL), recently surpassing $17 million.
Floki’s success is attributed to a variety of factors, such as the emergence of its Valhalla Metaverse GameFi project, adoption of its FlokiFi Locker protocol, decisions to burn $FLOKI bridge tokens and reduce the memecoin’s transaction tax, plus short-term catalysts such as the token’s listing by major Centralized Exchange Kucoin.
The surge in popularity began with a tweet from Elon Musk. When the billionaire announced he would name his Shiba Inu puppy Floki, it created a deluge of ‘Floki’ dogcoins. The most successful of these is Floki Inu, the third most popular meme token on the market, behind Dogecoin and Shiba Inu. It is backed by a community of committed enthusiasts and a strong marketing campaign.
The celebration of Floki’s success was evident on social media. On Twitter, the official Floki account said “$FLOKI is now officially in the Top 100 of all #cryptocurrencies according to top crypto tracker @Coingecko — alongside $DOGE and $SHIB”. The tweet also included a link to Floki’s CoinGecko page.
The market cap of Floki on CoinMarketCap would also place it among the top 100 tokens, but the website rankings had not been updated to reflect that.
The FlokiFi Locker protocol is the main driver of the token’s success. Operating on 12 blockchains, the liquidity locker has increased its TVL significantly in February, as it passed the $10 million mark at the beginning of the month.
The FlokiFi Locker protocol is designed to give the $FLOKI token solid utility. It allows users to lock their tokens for rewards, such as staking rewards and yield farming rewards. As the TVL of the FlokiFi Locker grows, so too does the utility of the token.
The success of Floki is a testament to the power of the community behind it. With a strong marketing campaign, a committed group of enthusiasts, and a range of utility-driven protocols, Floki has proven its worth among the top 100 cryptocurrencies.
The Floki team is now focused on growing the protocol further, with plans to expand the FlokiFi Locker to more blockchains and to launch additional DeFi products. With the potential for further growth and the potential to become a major player in the DeFi space, Floki is certainly one to watch.
For those interested in learning more about Floki, the team can be found on their website, Twitter, Telegram, and Discord. With its success in the top 100 tokens, Floki is sure to be a major player in the cryptocurrency space for years to come.
