The token, known as TOKEN, has garnered a significant number of holders, about 18,800, on both the BNB and ETH chains. Despite facing a turbulent first launch, the token has managed to establish itself on a prominent trading platform.
The FLOKI network is now engaged in a dispute with Bitget over the listing of a counterfeit version of TOKEN, resulting in the recording of substantial trade activity.
The Floki Inu (FLOKI) ecosystem gained significant attention recently due to the introduction of its TOKEN and associated ticker, TokenFi. This development aligns with the ecosystem's overarching objective of capitalizing on the tokenization sector, which is anticipated to reach a value of $16 trillion by the year 2030. The premier's actions generated controversy when the Bitget exchange posted a counterfeit TOKEN, so enabling its availability in the public market 12 minutes prior to the formal tradability of FLOKI network's genuine TOKEN on the blockchain.
The pace of adoption of FLOKI network's TOKEN is seeing a significant acceleration.
Following a week of contentious discussions between FLOKI, TokenFi, and Bitget exchange, it has been confirmed that TOKEN has successfully obtained a listing on Binance, which is recognized as the exchange with the highest trading volume. Consequently, TOKEN will be made accessible for futures trading on Binance, offering leverage of up to 50X. By doing so, the token becomes a part of the highly liquid cryptocurrency perpetuals market, which is anticipated to significantly enhance TokenFi's market liquidity. This strategic decision aligns with TokenFi's objective of capitalizing on the predicted $16 trillion tokenization market by 2030, hence facilitating wider acceptance and utilization.
In just under a week after its first release, TokenFi, the symbol representing the TOKEN asset, has already demonstrated impressive figures and gained notable momentum within the ecosystem. According to a recent statement on FLOKI's official X platform, there are currently 8,800 individuals holding FLOKI tokens on the #BNB🔥 and ETH blockchains. The circulating supply of FLOKI tokens has reached a peak worth of $55 million, while the diluted market capitalization stands at $550 million. The coin has furthermore obtained listings on the largest and most reputable exchanges within the market.
In the meanwhile, the network remains engaged in a dispute with Bitget, subsequent to the exchange's inclusion of a counterfeit iteration of TOKEN. The FLOKI ecosystem recently brought to light the unsuccessful endeavors of a centralized exchange in manipulating TokenFi. It elucidated that the exchange engaged in the sale of TOKEN, amounting to over $10 million, to customers while lacking possession of those tokens and without the necessary authorization to market them, as stated by FLOKI.
FLOKI also disclosed that Bitget compelled the liquidation of all user holdings on November 2, providing consumers with a compensation of to less than 20% of the tokens' market value, which users had legitimately acquired on their platform.
As of the present moment, the current price of #Floki Inu is at $0.00003044, indicating a decrease in value of 0.83% over the course of 24 hours. It is worth noting that there is a continuing load-shedding exercise. The meme cryptocurrency has already shown that a turnaround in its momentum is underway.
