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.
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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.