The #Floki tokens that have been locked in the Floki staking scheme have achieved a significant milestone, with 17% of the whole supply being staked.
A significant proportion of $FLOKI tokens have been subjected to staking for a duration of up to four years, resulting in their continued absence from circulation.
The FLOKI price had an increase of around 3% during the overnight period, reaching a trading value of $0.00003132.
FLOKI, a prominent cryptocurrency within the digital asset landscape, achieved a significant milestone during the early hours of Saturday. The entire value locked of the token reached $54.4 million, which then triggered a price spike in the meme currency. The price of FLOKI had an increase throughout the weekend, reaching a value of $0.00003132 on the Binance platform.
The FLOKI TVL achieves a significant milestone shortly after the launch of staking.
The staking feature of the FLOKI ecosystem was launched one week ago, resulting in a total value of $54.4 million. A total value of $54.4 million was locked in the FLOKI staking scheme, pertaining to FLOKI tokens. According to data provided by the official X account of the meme currency, the aforementioned figure corresponds to 17% of FLOKI's overall supply and 18% of the circulating supply of the asset.
It is essential to acknowledge that staked tokens are effectively removed from circulation. The bulk of the assets that have been staked will be held within the program for a duration of up to four years, resulting in a decrease in the quantity of tokens available for circulation. This phenomenon generally leads to an increase in the value of the asset.
More than 50% of the TOKEN supply associated with FLOKI's sister token has been designated for stakers, who have the opportunity to acquire these tokens over a span of four years, yielding an annual percentage yield (APY) of up to 160%. By engaging in the practice of staking FLOKI tokens, users have the opportunity to accrue TokenFi's TOKEN and so generate further rewards.
The cryptocurrency FLOKI is now being traded at a price of $0.00003132, and it has had a 4% increase in value over the course of the day. There is a strong likelihood that FLOKI will maintain its gains and sustain its upward trend due to a decrease in selling pressure observed on centralized exchanges. Additionally, the staking program associated with FLOKI has gained appeal among participants in the market.