DWF Labs Takes a Bold Step, Invests $12 Million in FLOKI Tokens
DWF Labs, has set aside $12 million to buy Floki coins. This investment aims to bolster the growth and development of the Floki ecosystem, which has experienced significant momentum in the cryptocurrency market in the last year.
Andrei Grachev, Managing Partner of DWF Labs, stated that the company “believe in the transformative potential of Floki and its ability to engage a broad community of crypto enthusiasts.” The company says that it would swiftly execute some of its pending projects with an investment such as this.
These include developing use cases and utility, improving infrastructure, stepping up marketing, and ensuring compliance with regulations. FLOKI’s rate, as of press time, has an open interest of -18.81% and has maintained a current value of $16.4 million. The coin is trading at 28.18% lower than its former peak of $0.0003437, which it attained on November 4, 2021.
FLOKI Creators Says Funding Will Fund Its Future Projects
Floki Inu has been creating practical use cases to transcend its status as a meme coin. The company is also working to develop DeFi apps, NFTs, and alliances with other blockchain initiatives. Floki plans to use the funds to expand its technology infrastructure, ensuring security and scalability.
This entails Floki smart contract enhancements, blockchain platform integration, and improved wallet and exchange interfaces to improve user experience. Much of the funding will go toward marketing initiatives to expand the Floki community, raise awareness, and encourage using Floki tokens, including influencer collaborations, social media marketing, and international outreach initiatives.
With the increased global regulatory focus on cryptocurrencies, Floki seeks to guarantee that legal requirements are followed in various jurisdictions. A portion of the investment will strengthen legal and compliance frameworks to ensure Floki complies with these requirements. Following the announcement, there was a discernible spike in the price of Floki tokens, indicating a rise in investor confidence.
DWF Reveals it Had Invested $10 Million a Few Months Back
Addressing the development, DWF Labs says it will buy off some circulating tokens and acquire the rest from the company’s treasury. The DWF Lab explained that it committed over $10 million worth of FLOKI tokens two months ago and is currently abiding by the terms of the agreement. The company said it wishes to do this through a strategic purchasing strategy.
However, FLOKI is looking to increase its market value as the company prepares to make the biggest step this year. As of press time, FLOKI is trading at $0.0002634, while the trading volume has reached $529,775,796.96 in the last 24 hours. This explains that the price dropped by -6.73% in the last 24 hours and -3.27% in the previous weeks.
Currently, the coin still has a total of 9.7 trillion units of FLOKI in total circulation. The ratio of the coin’s volume-to-market capitalization is 29.26%, indicating the cute liquidity of the market amid the current dropping trading volume, which used to be 29.02% less than what it was 24 hours ago.
Floki Inu To Launch Trading Bot, Reveals Proposed Operation Networks
FLOKI has continued to rank as one of the most active coins in the market amid the many fluctuations that have taken place. Floki Inu has released a statement, saying it is working to launch its trading bot on different networks. Listed are Base (by Coinbase), Binance’s BNB mainnets, and Ethereum, which is said to come in a converged beta version.
The company said the beta test structure only allows 150 users and will only run for two weeks. Users must give feedback, conduct trades, and complete a survey to qualify for this incentive. The company further explained that it designed the beta version to uncover bugs and develop viable feedback to augment users’ general trading experience.
FLOKI will be used as the official utility token throughout this beta stage. Analysts have continued to predict a possible price increase of FLOKI after hitting its current all-time high of $0.00054673. The company wants to burn 50% of the frees from the bot to align with its objectives. This move, if achieved, will propel an increase in the value of FLOKI.
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