- Floki Inu has announced that its Total Value Locked (TVL) in its Decentralized Finance (DeFi) has soared to $80.2 million.
- This demonstrates the trust that investors and network users have on the blockchain, and is viewed as a bullish sign for the ecosystem.
Floki Inu has shown its strength in the blockchain industry with a rapidly swelling Value Locked (TVL) in its Decentralized Finance (DeFi). revealing its latest accomplishments on the X platform, the official account of the Shiba Inu competitor revealed that on Thursday FlokiFi’s TVL surged from $72.8M to a new all-time high of $80.2M.
As noted by the team, this demonstrates the strong adoption Floki‘s advanced crypto locker protocol is experiencing. This could further strengthen its bullish case in the coming weeks.
In less than 12 hours, #FlokiFi‘s TVL surged from $72.8M to a new all-time high of $80.2M!
This demonstrates the strong adoption #Floki‘s advanced crypto locker protocol is experiencing.$FLOKI is often labeled a “#memecoin,” alongside $DOGE, $SHIB, $PEPE, but it’s carving… https://t.co/3zsUbRwL2e pic.twitter.com/8sD48rsuWv
— FLOKI (@RealFlokiInu) November 9, 2023
Ofetnly compared with Shiba Inu, Dogecoin, and Pepe, Floki Inu has carved out a niche that sets it apart. Furthermore, it puts it in direct competition with big networks such as Ethereum, TRON, and Cardano. These are the leaders in total value locked (TVL) in Decentralized Finance (DeFi), which has seen its adoption and value increase over the years. The projects with the highest TVL have seen the value of their tokens rise to be worth billions of dollars. This is clearly one of the main goals for Floki Inu, to push its native token FLOKI to reach billions of dollars in value.
For context, Ethereum which is the biggest DeFi platform according to DefiLlama has $26 billion in TVL, TRON has around $8 billion, Solana has nearly $315 million and Cardano has around $250 million. If Floki can sustain its upward trajectory, it could easily overtake Cardano and Solana which have been in the industry for years now.
Amidst the growing TVL, the token has continued to gain major exposure to drive its adoption. One of Asia’s most popular crypto exchanges, serving more than 850,000 people, Coinstore, has announced that it has listed FLOKI. With increased exposure, this could drive greater demand and push prices higher.
Despite these bullish developments, FLOKI has in the last 24 hours lost nearly 8 percent to trade at $0.00003055. In the last two years, the altcoin has lost nearly 90 percent of its value since reaching its all-time high of $0.00033651 about two years ago. According to a number of analysts, the token is set to be one of the best performers during the next bullish run. Ideally, investors will look to surpass the current all-time bolstered by developments from the last two years.
In another development, Floki Inu has launched a sister project and token, TokenFi, the project makes it easy for anyone to tokenize Real World Assets (RWA) and crypto without any coding experience. The new project has already garnered attention with key strategic partnerships as well as listings from major crypto exchanges.
