Floki Inu team warns about “fake” claims that FLOKI tokens are on Solana and Base chains.
According to the meme coin project, the native token is olnly tradable on ETH and BNB Chain.
The lates Floki news relates to a warning the meme coin’s team issued this weekend.
Specifically, the crypto community should be careful as there are scams claiming the FLOKI tokens are on Solana and Base, Floki Inu wrote in a social media post.
In a post on theofficial Floki Inu X account, the meme coin notified its users and the broader crypto community to be wary of such as they are “false and attempts to deceive.”
“It has come to our attention that there are scams claiming Floki has a token on Base or Solana,” the Floki Inu team posted. “Please note: $FLOKI is ONLY tradeable on the $BNB and $ETH chains,” they added.
The project shared the correct contract addresses on Ethereum and BNB Chain, with the ETH as 0xcf0c122c6b73ff809c693db761e7baebe62b6a2e and the BNB address as 0xfb5b838b6cfeedc2873ab27866079ac55363d37e.
Users should be keen not to fall victim of these schemes, and “always verify information from official sources.”
Floki Inu’s warning comes as the crypto market witnesses an explosion in meme coins on Solana and Base. Also happening is a proliferation of scams targeting unsuspecting cryptocurrency enthusiasts and traders, one of which is malicious links to fake tokens.
Floki’s key roadmap
The project launched its ambitious crypto roadmap in March this year.
The highlight milestones include a trading bot, FLOKI-powered bank accounts, domain name, Floki staking as a service and the Valhalla mainnet.
Meme coins have done well in the past few months, with most of them outperforming the likes of Bitcoin, Ethereum, and Solana. Tokens like Floki Inu, Dogwifhat, and Pepe have all jumped by more than 300% this year while most big coins have jumped by less than 100%.
Dogecoin and Shiba Inu lose momentum
There are signs that most traders are focusing on newer meme coins as the biggest ones lose momentum.
A good example is looking at the performance of pioneer tokens like Dogecoin and Shiba Inu. The two tokens have jumped by over 20% and 30%, respectively while most newer tokens like Dogwifhat and Pepe have more than doubled.
The other way to look at this is their daily trading volume. Data by CoinMarketCap shows that the volume of Dogecoin in the past 24 hours stood at over $288 million while Shiba Inu stood at more than $115 million. These are small numbers considering that these tokens have a market cap of over $17 billion and $9.9 billion.
In contrast, Pepe’s volume in the past 24 hours stood at over $356 million while Dogwifhat had $326 million. The two’s market cap stands at over $4.5 billion and $1.9 billion, respectively.
Other smaller tokens like Floki, Bonk, and Mog Coin are also seeing higher volume than Dogecoin and Shiba Inu.
Solciety is doing well
This performance is happening at a time when Solciety’s token sale is doing well. Recent data shows that the Solciety network has raised over $556k in less than a month, meaning that investors are bullish about the network.
Solciety is an upcoming token that hopes to become a leading player in the meme coin industry. Specifically, the developers hope that it will become the leading political meme coin because of its neutrality.
That is unlike other politically biased tokens like TRUMP and JEO Boden that are biased. Instead, its standout feature, the meme coin generator allows users to create their own memes, share them on social, and then be rewarded.
The developers are hoping that funds raised in the presale will help them build the biggest meme coin platform in the industry. As part of its tokenomics, Solciety will have 10 billion tokens, 30% of which will be through its token sale and 20% will be used in marketing. The rest of the funds will go to Treasury, Liquidity, and Development.
Solciety joins other networks that have raised millions of dollars in token sales this year. Bitcoin Dogs raised over $13 million in a token sale while BitBot raised over $6 million. You can buy the Solciety token here.
Bitget, the leading cryptocurrency exchange and Web3 company, will launch a unique social project in Vietnam. The campaign aims to educate people on how to use cryptocurrency securely and prevent fraud through engaging and understandable posters and banners. These educational materials, which will provide tips on detecting and avoiding cryptocurrency scams, will be displayed in public spaces such as bus stops, subways, and street billboards.
Vietnam, one of Southeast Asia’s most dynamic economies, has consistently ranked highly on Chainalysis’ global crypto adoption index, currently holding the third position. According to a report by payment platform Triple-A, around 21.2% of the Vietnamese population owns cryptocurrencies, second only to the UAE at 34.4%.
However, the level of awareness about the risks associated with digital assets remains much lower than the general knowledge about cryptocurrencies in the country. This gap has led to a surge in financial losses due to fraud, especially among vulnerable groups. In 2023 alone, cryptocurrency-related investment frauds resulted in approximately $3.94 billion in losses, a significant 53% increase from the previous year. Data from an FBI report indicates a worrying trend: most victims of investment scams were over 30 years old, with a notable number of complaints coming from individuals over 60, who are particularly vulnerable due to limited access to timely and clear information.
Being the third most populous country in Southeast Asia, Vietnam shares the same alarming trends with other countries in the region, when it comes to digital assets extortion. A 2023 report issued by the UN Human Rights Office shows that this region is plagued with crypto-related romance-investment scams, fraud to illegal gambling. According to the report, the COVID-19 pandemic and associated response measures had a drastic impact on illicit activities across the region. But the most devastating fact about this phenomena is that it actually has more than one set of victims.
Novice investors and elderly people, who are often less familiar with stock markets and digital currencies, are the most common targets for criminals. Most people over 60 have a limited understanding of cryptocurrencies and tend to be more trusting. While they may have heard of cryptocurrencies, their practical experience and knowledge in navigating these investments safely are often lacking. Bitget believes that a significant gap in the modern financial market is the focus on attracting young users, neglecting wider groups, and the insufficient effort to increase financial literacy and risk awareness among users.
Bitget’s social campaign aims to address the lack of awareness about cryptocurrency fraud, providing the general public with clear and reliable advice for the first time. The campaign will cover common types of scams such as social engineering, romance scams, phishing, and investment fraud. The project has been developed with the support of leading anti-fraud experts, law enforcement agencies, and sectors like technology, banking, and telecommunications.
“Along with the advancement of technologies, the cryptocurrency market has faced several urgent issues that have tested many aspects of social, economic, and cultural life,” says Gracy Chen, CEO of Bitget. “One of the key tools for engaging with the public and raising awareness, including among vulnerable groups, is social advertising. This format has shown high effectiveness worldwide, for instance, during the COVID-19 pandemic, where banners became a central element in informing citizens about the importance of precautionary measures.”
In addition to the antiscam initiative, Bitget Research released a report highlighting how deepfakes can account for 70% of the total crypto scams in two years. This indicates over $25B in potential losses in 2024. This is one of the ways Bitget plans to spread awareness around crypto scams. Bitget hopes that the experience in Vietnam will help analyze the effectiveness of such informational tools, improving financial literacy and public awareness. The exchange plans to launch similar social campaigns in other major cities worldwide in the future.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).
Shiba Inu (SHIB) and Dogecoin (DOGE) face market challenges, struggling amidst volatility and competitive pressures.
WW3Shiba (WW3S) meme coin emerges with a narrative-driven approach, blending gaming, NFTs, and high returns.
WW3S, currently available at $0.0013 per token in presale, offers unique tokenomics, including charitable contributions.
Meme coins have carved out a niche that blends entertainment, community engagement, and speculative investment. Among the notable players like Shiba Inu (SHIB) and Dogecoin (DOGE), which have captured the imagination of crypto enthusiasts worldwide, a new contender is emerging: WW3Shiba (WW3S).
As SHIB and DOGE navigate challenges in the market, WW3S is gaining attention for its innovative approach and unique narrative.
This article delves into the current scenarios of SHIB, DOGE, and the rising star WW3S in the cryptocurrency landscape.
Shiba Inu (SHIB) in a key reversal zone
Shiba Inu (SHIB), often hailed as the “Dogecoin killer,” has faced significant volatility recently.
After a period of volatility, SHIB price has approached a significant support level around $0.00001690. Technical analysts highlight that a weekly candlestick close below this level could invalidate the current bullish sentiment, potentially leading to further downside.
However, if SHIB manages to hold above this support, it could pave the way for a potential rebound, aiming towards resistance levels around $0.0000208 towards the next support around $0.00001430.
SHIB’s price movements are closely tied to sentiment within the meme coin community and broader cryptocurrency market trends. As such, ongoing developments, including regulatory announcements and market sentiment shifts, could influence SHIB’s short-term price action.
Therefore, traders and investors should monitor both technical levels and external market factors to gauge SHIB’s potential trajectory in the coming weeks.
Dogecoin (DOGE) under pressure as focus shifts to new meme coins
Dogecoin (DOGE), the original meme coin that gained popularity from its inception as a lighthearted digital currency, is facing pressure amid the evolving crypto landscape.
Originally created as a playful digital currency, DOGE gained popularity for its community-driven ethos and occasional endorsements by influential figures like Elon Musk.
However, recent market conditions have exposed DOGE’s vulnerability to broader market trends and competitive pressures from newer meme coins offering innovative features and narratives.
At present, DOGE is trading in a range-bound pattern, struggling to break above key resistance levels despite intermittent spikes in trading volume.
Technical analysis indicates that DOGE’s price action is characterized by consolidation within a narrow range, reflecting indecision among market participants and a lack of clear directional bias.
Recent price movements have shown DOGE hovering around critical support levels, with the $0.20 mark serving as a psychological barrier. Failure to sustain above this level could expose DOGE to further downside risk, potentially revisiting lower support levels around $0.18 and $0.16.
The current price structure suggests that DOGE is in a phase of price discovery, where market participants are reassessing its valuation amidst competitive pressures from emerging meme coins.
Nevertheless, investor sentiment towards DOGE remains mixed, with some enthusiasts highlighting its enduring community support and cultural significance within the cryptocurrency ecosystem while others argue that DOGE’s lack of fundamental upgrades and evolving competition from newer projects may limit its long-term growth prospects.
As investors recalibrate their strategies in response to shifting market dynamics, the fate of DOGE will depend on its ability to maintain relevance and attract new participants amidst the emergence of innovative alternatives like WW3Shiba (WW3S).
WW3Shiba (WW3S) the new meme coin sensation
Amidst the struggles of SHIB and DOGE, WW3Shiba (WW3S) has emerged as a promising newcomer in the meme coin arena.
Unlike its predecessors, WW3S combines a captivating storyline with blockchain technology and community engagement.
Positioned against the backdrop of a fictional World War 3, WW3S features heroic canine characters like Ping, Abe, Britt, and Sasha, each representing their respective countries with pride and valor. The project offers unique features such as a play-to-earn arcade-style game, an NFT marketplace, and staking opportunities with high returns, up to 60%.
The project’s roadmap includes phases from website launch and token listing to the development of a comprehensive ecosystem that fosters community governance and ongoing charitable contributions.
The tokenomics of WW3Shiba are designed to support its long-term sustainability and utility. With a total supply of 4,300,000,000 tokens, WW3S allocates significant portions to various aspects of its ecosystem.
50% of WW3S tokens are designated for the presale, ensuring early adopters can participate in the project’s growth from the outset. Additionally, 20% is earmarked for marketing, indicating a proactive approach to raising awareness and fostering community growth.
Furthermore, WW3Shiba allocates 2% of its tokens to charitable initiatives, focusing particularly on supporting dogs affected by war — a distinctive feature that sets it apart from other meme coins solely focused on speculative gains.
Interested investors can purchase the WW3S tokens at $0.0013 per token in the current presale stage before the price rises in the next stage.
The highly anticipated UNITS marketplace is now live, marking a significant milestone in the realm of asset investment through blockchain technology. UNITS is poised to revolutionize the investment landscape by enabling the tokenization of real-world assets (RWAs), simplifying the process for investors to diversify their portfolios and for asset owners to unlock the value of their holdings.
Marketplace Now Live
With the launch of the UNITS marketplace, the platform allows for the seamless conversion of tangible assets such as real estate, fine art, and commodities into Non-Fungible Tokens (NFTs). These tokenized assets are now available for trading on the advanced marketplace, offering unprecedented liquidity and access to a global audience.
In the coming weeks, UNITS will post a range of NFTs representing various real-world properties on the marketplace. These property-related NFTs will be managed directly by UNITS, ensuring a high standard of quality and reliability. Investors will have the opportunity to purchase these NFTs, gaining fractional ownership in high-value assets that were previously out of reach. This development is set to democratize access to investment opportunities, lowering the barriers to entry and expanding the scope for both individual and institutional investors.
Future Deliveries: Secondary Marketplace and NFT Creation Services
Looking ahead, UNITS is excited to announce the next phases of its platform’s development:
Secondary Marketplace: A secondary marketplace is in development where investors can freely trade their NFTs. This marketplace will enhance liquidity, allowing for real-time price discovery and 24/7 trading. It will provide a dynamic environment for investors to buy, sell, and trade tokenized assets with ease.
Tokenization as a Service: UNITS will soon offer tokenization services, enabling asset owners to convert their assets into NFTs. This service will streamline the process of asset tokenization, making it accessible and efficient for a wide range of asset owners. By providing these tools, UNITS aims to support a diverse array of assets, from real estate to fine art, and beyond.
The Power of UNITS Tokens
Central to the UNITS ecosystem is the UNITS token, which offers multiple benefits to its holders. This token is integral to accessing the platform’s services and participating in its unique economic model. Key features of the UNITS token include:
Deflationary Mechanisms: UNITS implements a comprehensive token burn strategy to enhance token value. A percentage of all rental incomes and property transactions on the platform will be used to buy back and burn UNITS tokens, reducing the overall supply and increasing scarcity. This deflationary model ensures that as platform activity grows, so does the value of the tokens.
Exclusive Benefits for Token Holders:
Platform Access: Holders gain premium access to a suite of tools and services, including advanced asset tokenization platforms and portfolio management systems.
Early Investment Opportunities: Token holders are given priority access to select investment opportunities on the platform, allowing them to invest in promising assets before they are available to the broader market.
Enhanced Analytics: Exclusive access to in-depth market data, analytics, and insights within the UNITS ecosystem helps investors make informed decisions.
Community Membership: Ownership of UNITS tokens grants entry into exclusive community groups where investors can network, share insights, and gain access to expert analyses and investment strategies.
Discounted Services: Token holders receive significant discounts on fees related to the tokenization of properties and other assets, incentivizing the use of the UNITS platform.
These mechanisms and benefits are designed to align the platform’s success with the appreciation of token value, fostering investor confidence and ensuring long-term sustainability.
Join the Revolutionary Journey
The launch of the UNITS marketplace is just the beginning. Investors, asset owners, and blockchain enthusiasts are invited to join as UNITS redefines the boundaries of asset investment. Whether diversifying an investment portfolio or unlocking the value of assets, UNITS offers a unique and innovative platform to achieve these goals.
Stay tuned for upcoming property-related NFT listings managed by UNITS, and the rollout of the secondary marketplace and tokenization services. Together, UNITS is building a more inclusive, efficient, and transparent future for asset management.
To learn more aboutUNITS, read theirWhitepaperor follow them on social media:
Solana (SOL) price rose more than 8% after news that asset manager VanEck had filed for a Solana ETF.
The VanEck Solana Trust is the first SOL exchange-traded fund application in the US.
SOL, the native token of the Solana blockchain, rose sharply on Thursday as the market reacted to news of VanEck filing for a spot Solana ETF.
According to data from CoinGecko, the price of Solana moved from a low of $138 to above $150, adding more than 8% in intraday gains.
Solana’s trading volume also spiked, increasing by more than 26% to over $2.8 billion.
VanEck files for Solana ETF
On June 27, VanEck, an asset manager that also offers a spot Bitcoin ETF and has its spot Ethereum ETF on the verge of trading debut, made history as the first firm in the US to file for a Solana exchange-traded fund (ETF).
The firm filed for its VanEck Solana Trust with the US Securities and Exchange Commission (SEC), noting in a statement that the company believes SOL to be a commodity as are BTC and ETH.
“SOL’s decentralized nature, high utility, and economic feasibility align with the characteristics of other established digital commodities, reinforcing our belief that SOL may be a valuable commodity with use cases for investors, builders, and entrepreneurs looking for alternatives to the duopoly app stores,” Matthew Sigel, VanEck’s head of digital asset research, said in a statement posted on X.
The community’s reaction suggests this could be another positive development in the crypto space. SEC’s approval of BTC ETFs in January and the recent not to spot Ether ETFs have analysts pointing at a maturing crypto ecosystem.
Recently, the firm 3iQ became the first to file for a Solana ETF with an application in Canada.
Kadena, the industry’s only scalable Proof of Work blockchain, welcomes Nitin Gaur, the Founder of IBM Blockchain Lab and a former Global Head of Digital Assets at State Street, as an advisor. Gaur, a distinguished leader in blockchain with a robust patent portfolio, brings a wealth of knowledge and expertise to guide Kadena’s strategic direction for implementing a decentralized approach to traditional finance.
Stuart Popejoy, CEO and Co-Founder of Kadena, expressed his excitement about the new addition to Kadena’s advisory team: “We are thrilled to welcome Nitin Gaur to Kadena as an advisor, joining blockchain inventor Dr. Stuart Haber, among others. His deep understanding of blockchain technology and his institutional background will be instrumental as we continue to push the boundaries of what is possible with our platform.”
Gaur shared in the excitement to join Kadena. “Kadena has a bright future with a world-class team of executives and advisors. I’m excited to bring my experience in blockchain-powered business networks, especially in financial services, to add to a strong foundation.”
Nitin’s contributions to the field extend beyond his work at IBM and State Street. He is a sought-after speaker at various global events, advised on digital currency initiatives at Stanford University, and holds 100-plus patents.
For more information about Kadena and its initiatives, users can visit www.kadena.io.
About Nitin Gaur
Nitin Gaur is currently the Founder and CEO of LedgerLink, an AI-driven Web2.5 Platform. The goal of LedgerLink is leading Digital Asset and Technology Design, with aspirations to transition part of the company’s financial market infrastructure and its clients to the new digital economy. In this role, Nitin aims to dedicate energy to bridging traditional finance and emerging decentralized finance with concepts around enterprise-grade digital asset custody, risk model frameworks, tokenization of traditional assets, and fund structures, to transform and modernize the market infrastructure with a vast partner ecosystem. Nitin Gaur also serves as the CTO and Co-Founder at Portal Asset Management, an acclaimed crypto hedge fund. He is also the co-host of the “Beyond Bitcoin” podcast, which offers deep insights into the evolution and adoption of digital assets across industries.
In his previous role, Nitin Gaur, served as Managing Director at State Street, Founder and Director of IBM Digital Asset Labs – committed to devising industry standards, use cases and working towards making blockchain for enterprise a reality. In parallel Nitin also served as CTO of IBM World Wire – a cross-border payment solution utilizing digital assets. Nitin also Founded IBM Blockchain Labs and led the effort to establish blockchain practices for the enterprise. Prior to this role, he was working in the capacity of CTO, IBM Mobile Payments, and Enterprise Mobile Solutions. Nitin holds an MS in Management Information Systems and an MBA in Finance from the University of Maryland. Nitin was also appointed as an IBM Distinguished Engineer and was recognized as a Master Inventor with a rich patent portfolio.
About Kadena
Kadena, a blockchain technology company founded in 2017 by Stuart Popejoy and Will Martino, who created JP Morgan’s first blockchain and led the SEC’s Crypto Committee, stands as the industry’s only scalable layer-1 Proof of Work (PoW) blockchain. This unique scalability enables Kadena to deliver infrastructure-grade performance for any blockchain project. Along with their smart contract language Pact, Kadena’s platform provides the world with the tools and environment to turn ideas and ambitions into reality, paving the way for true blockchain mass adoption.
Maker price rose more than 7% to lead altcoin gainers alongside Kaspa and Injective.
Gains for MKR came as new upside momentum emerged amid a massive $1.35 million Endgame audit contest.
MakerDAO said in a recent post that blockchain security platform Sherlock will the host the bug hunt contest from July 8 to August 5, 2024.
Maker (MKR) price is up on the day as the cryptocurrency alongside Kaspa (KAS) and Injective (INJ) post top gains among the leading 100 cryptocurrencies by market cap.
CoinMarketCap data shows the MakerDAO governance token’s price has increased 7% in the past 24 hours.
On Wednesday, MKR traded to lows of $2,335. However, a significant uptick in buying pressure has seen it surge past the resistance at $2,400 to reach intraday highs of $2,561 on Thursday morning.
As of writing, Maker has a 24-hour trading volume of over $116 million, with this rising 47% in this period. Meanwhile, the market cap has increased 7% to over $2.3 billion.
Why is MKR price surging today?
While most of the altcoin market continues to battle downside pressure, Maker appears to have benefited from a new dose of optimism after a major announcement by MakerDAO on Tuesday.
That had to do with the official launch of the Endgame audit contest, a bug-finding contest that will see participants earn from a massive $1.35 million rewards pot. In the announcement, MakerDAO said the contest will be on blockchain security platform Sherlock.
“DeFi builders are invited to participate in the largest bug-finding contest in the space, with a total of 1,350,000 DAI in rewards,” the Maker team said in a poston X.
Sherlockcallsthis “the biggest audit contest ever”.
According to MakerDAO, the contest targets a community collaboration towards enhancing the blockchain platform’s security for Endgame products ahead of Maker’s Launch Season. The bug-hunt will run from July 8 to August 5, 2024.
MKR reached its all-time high price of $6,292 in May 2021.
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MAGA Hat (MAGA) traded at $0.0003611, more than 20% up in the past 24 hours.
Donald Tremp (TREMP) was changing hands at $0.7933, more than 18% up over the sale time frame.
President Joe Biden and former president Donald Trump will face off in the first debate on Thursday.
MAGA Hat (MAGA) and Donald Tremp (TREMP) are among the top gainers in the PolitiFi meme coins market today.
As well as Trump Mania (TMANIA), these meme coins have soared double digits each in the past 24 hours, outpacing the likes of Constitution DAO, TRUMP and BODEN.
MAGA and TREMP tokens soar
MAGA Hat currently trades around $0.0003611, about 20.5% in the past 24 hours and 49% this past week. Meanwhile, TREMP is changing hands around $0.7933, more than 18% in the past 24 hours and 13% over last week.
Anticipation around the event and the upcoming election has the sector poised for a possible explosion – with meme coins inspired by former president Donald Trump accounting for most of the top 10 political meme coins.
CoinGecko data in fact shows that there’s only one crypto meme coin on President Joe Biden in the top 10 of PolitiFi tokens as of writing – Jeo Boden (BODEN).
These tokens could collectively see some increased volatility in the week and after the first public debate set for June 27. Trump’s increased crypto-friendly stance contrasts sharply with the Biden administration’s approach over the past years.
Despite recent actions that suggest a crypto shift for the incumbent, including the rehiring of a former crypto advisor, it’s largely been Trump making headway as a crypto champion. The Republican party candidate’s campaign has received crypto donations, holds crypto and has pledged to “end Biden’s war on crypto.”
zkSync (ZK) and Shiba Inu (SHIB) face steep declines amid volatile crypto market conditions.
Investors seek stability and innovation, turning to Bitbot’s native token, BITBOT, ahead of its anticipated listing.
Bitbot emerges as a promising alternative with AI-driven trading tools and non-custodial security.
zkSync (ZK) and Shiba Inu (SHIB) have faced significant declines, prompting investors to seek alternative opportunities.
Amidst these fluctuations, Bitbot emerges as a promising option, poised to attract attention ahead of its upcoming listing.
zkSync (ZK) faces challenges post-launch
zkSync, the much-anticipated token that debuted on June 17, initially saw a surge in value following its launch.
However, this enthusiasm quickly waned as sell pressure intensified, primarily from participants looking to capitalize on its airdrop. Despite a spike in new unique addresses and transaction volumes on launch day, subsequent days witnessed a sharp decrease in both metrics.
For instance, while the network recorded over 1.8 million transactions on launch day, activity dipped significantly in the days following, indicating a fleeting surge rather than sustained momentum.
zkSync market cap has declined to $613 million, marking a stark decline from its initial valuation, underscoring the challenges faced by new entrants, especially amidst volatile market conditions.
Notably, ZK’s price continues to drop despite the recent opening of the second round of ZK token airdrop claims as the first round was mired by controversies around the distribution model.
Shiba Inu (SHIB) bear trend continues
As zkSync’s token plummets, Shiba Inu (SHIB), a prominent meme coin in the crypto space, has also seen its fortunes dwindle in recent weeks.
With a current price of $0.00001752, SHIB has experienced 25% decline over the past week.
While SHIB continues to attract attention for its community-driven initiatives and high-profile endorsements, including sporadic mentions by influential figures, its recent performance underscores the unpredictable nature of meme coins within the crypto landscape.
Bitbot emerges as a strategic alternative
Against the backdrop of zkSync and Shiba Inu’s struggles, Bitbot’s BITBOT token has emerged as a compelling alternative for investors seeking stability and innovative solutions in the crypto trading space.
Positioned as the world’s first AI Telegram trading bot, Bitbot integrates cutting-edge AI technology with secure, non-custodial trading functionalities. This unique proposition addresses key concerns around asset security and transaction efficiency, offering users a streamlined trading experience directly through Telegram.
The recent BITBOT presale success, which raised $4,323,777, underscores growing investor confidence in its platform.
The telegram bot promises features such as automated sniping, limit orders, and yield optimization, previously accessible only to institutional traders.
Moreover, Bitbot’s revenue-sharing model, where token holders can earn from trading fees and participate in governance decisions, enhances its appeal as a community-driven platform.
Conclusion
As investors recalibrate their strategies amidst market turbulence, the appeal of platforms like Bitbot lies in their technological innovation and user-centric design.
While zkSync and SHIB navigate through challenging market conditions, the upcoming listing of Bitbot’s native token, BITBOT, on crypto exchanges presents an opportunity for investors to explore a new paradigm in crypto trading.
With its focus on security, accessibility, and community engagement, Bitbot stands poised to redefine the landscape of decentralized finance (DeFi), offering a promising avenue for both novice and seasoned traders alike.
As investors turn towards innovative solutions amidst uncertainty, Bitbot’s integration of AI and non-custodial trading capabilities positions it as a frontrunner in shaping the future of digital asset management and decentralized trading.
Solciety (SLCTY) presale nears $500K, attracting crypto influencers with its staged pricing presale.
Solciety merges politics with memes on Solana, fostering community and creativity.
Smidge (SMIDGE) meme coin price has seen a massive plunge sending investors into panic mode looking for alternative options.
Amid the SMIDGE decline, the new Solana-based meme coin Solciety (SLCTY) is making waves after launching its presale on June18.
Smidge (SMIDGE) price plunges by over 71%
Smidge (SMIDGE), a token associated with the 5th generation of the frog kingdom and known for its popularity on platforms like 4chan and Reddit, has seen a drastic decline in its market value.
From an all-time high of $0.0008874 just a day ago, Smidge has plummeted to $0.0001732, marking a staggering decrease of 71.25% in a single day.
Despite its initial popularity and viral status, Smidge’s recent performance highlights the unpredictable nature of the cryptocurrency market, leaving investors wary and seeking more stable alternatives.
This volatility underscores the risks inherent in investing in meme-inspired tokens, where sentiment and market dynamics can lead to rapid price swings.
Solciety (SLCTY) presale gains momentum as it approaches $500K
In stark contrast to Smidge’s downturn, Solciety (SLCTY) has been making waves with its presale, successfully raising over $300,000 within the first 48 hours and approaching the half-million-dollar mark within a week of its launch.
Positioned as a pioneering project within the PolitiFi meme coin industry, Solciety aims to blend political engagement with meme culture, catering to a diverse audience of crypto enthusiasts and meme creators alike.
The Solciety presale offers early adopters the opportunity to purchase SLCTY tokens at progressively increasing prices, incentivizing early participation while rewarding supporters.
With a total supply of 3 billion SLCTY tokens available for distribution this month, the presale employs a smart contract mechanism to adjust token prices every 72 hours.
Starting at $0.000963 per token and currently priced at $0.001967 in Stage 3 of 10 planned stages, Solciety’s strategic pricing strategy aims to balance accessibility for investors with sustainability for the project’s long-term growth.
Solciety’s appeal lies not only in its innovative approach to combining politics and meme creation but also in its utilization of the Solana blockchain.
Leveraging Solana’s high-speed transactions and low fees compared to Ethereum, Solciety provides a robust platform for decentralized governance and creative expression through its Meme Campaigner tool. This platform empowers users to generate and customize memes, fostering community engagement and content creation.
Moreover, Solciety has garnered attention from prominent figures within the crypto community, including influencers like Solciety, ALTCOIN-BEAR, The PEPE ARMY, ShibArmy1000x, and BscGems1000x.
These endorsement underscores the project’s potential to resonate with a wide audience interested in both cryptocurrency investments and meme culture.
Conclusion
As the cryptocurrency market continues to evolve and adapt, projects like Solciety exemplify the intersection of technology, creativity, and community engagement. With its presale gaining momentum and demonstrating substantial fundraising success, Solciety positions itself as a promising contender in the competitive landscape of meme-inspired tokens.
Investors, drawn by the potential for both financial gains and active participation in a novel ecosystem, are increasingly turning to Solciety as a beacon of innovation and opportunity amidst market uncertainties.
New MAGA Puss memecoin launches during intense US election campaign, which some analysts believe could continue to drive viral growth for tokens that tap into political narratives
New coin aims to follow in footsteps of $TRUMP and $TREMP, which recorded gains of 9,500% and 770% respectively
$PUSS also taps into cat meme narratives, which have pushed the $MOG memecoin to 8,000% gains and a $500 million market cap.
With the looming US election driving many PolitiFi memecoins to clock up remarkable gains, MAGA Puss ($PUSS) is a new politically-inspired Solana memecoin that aims to tap into these viral narratives in a bid to ‘meow America great again’.
It launches on Pump.Fun today.
The PolitiFi token, $TRUMP, recorded gains of 9,500% between January and June of this year, according todata from Coinmarketcap, while its Solana-based political cousin, $TREMP, rose by 770% in less than a month.
$PUSS taps into the same political narrative – and combines it with the cat meme narrative that has been taking the memecoin space by storm recently.
The $POPCAT token has risen by over 2,600% since January, while $MOG has recorded an even more impressive 8,700% gain in the same timeframe.
Launch Details
MAGA Pussis set to launch with 100% of its Liquidity Pool (LP) burned, ensuring stability and trust among investors. The token will be listed on Pump.Fun, a platform known for hosting some of the most promising memecoins.
The LP event on June 26, 2024 marks the official start of MAGA Puss’s journey, aiming to attract a community of patriots who love both cats and Trump memes.
Why Solana?
The choice of the Solana blockchain is a strategic one.
Known for its speed, reliability, and low transaction costs, Solana provides an ideal platform for a memecoin aiming for rapid adoption and viral growth. To quote the Maga Puss developers, “every good country-loving, god-fearing American can join the MAGA Puss journey, thanks to Solana’s accessible and efficient blockchain”.
So, should you ‘‘Grab ‘em by the $PUSS’’?
It’s certainly worth a punt, because MAGA Puss could see its growth trajectory driven by not one, but two dominant metanarratives at the very same time. It’s well positioned to capitalize on the political fervor of the upcoming US election, even as the viral popularity of cat memes could help it break through potential resistance levels.
The judge wholoosened Donald Trump’s gag order yesterdaycould also help push this memecoin higher, considering how much Donald Trump enjoys exercising that freedom of speech.
Given those tailwinds, a growing number of analysts are predicting that $PUSS could graduate from Pump.Fun on the first day of trading and reach a market cap of $500,000 in as little as two weeks.
Eigenpie, a leading liquid restaking platform for Ethereum, has officially introduced support for Bitget Wallet on its platform. This new wallet integration enables Bitget Wallet users to seamlessly access through their web browser and mobile app, facilitating Ethereum staking and EigenLayer potential revenue simultaneously.
Eigenpie is also now featured under Bitget Wallet’s DApp browser, allowing users to easily search for and access it on the Ethereum network. Following these developments, users can now use streamlined access to Eigenpie’s innovative restaking services.
Eigenpie, As an innovative SubDAO created by Magpie, Eigenpie focuses on the restaking of ETH LSTs via EigenLayer. As a liquid restaking platform for Ethereum, Eigenpie’s core mechanism enables users to convert their Liquid Staked ETH tokens into Isolated Liquid Restaked ETH tokens, maximizing the potential yield for stakers.
“Restaking is a key area of focus for Bitget Wallet this year,” said Alvin Kan, COO of Bitget Wallet. “Various ETH staking projects, driven by token issuance expectations or high on-chain yields, have attracted many token holders to actively participate on-chain, injecting new vitality into the Ethereum ecosystem. We have been actively collaborating with numerous restaking projects, including EigenLayer and Etherfi.”
Bitget Wallet’s staking services have already integrated multiple protocols, including EigenLayer, Lido, and Pendle. Users can participate in staking with a single click on the mobile app, depositing various restakable assets to potentially maximize their holdings’ returns. Additionally, users may also manage their staked assets from their wallet homepage, providing real-time updates on existing balances, potential yield, and transaction records.
About Bitget Wallet
Bitget Wallet is Asia’s largest and a leading global Web3 wallet with over 20 million users worldwide. It offers a comprehensive range of features, including asset management, intelligent market data, swap trading, launchpad, inscribing, NFT, DApp, and token earning center. Currently, it supports more than 100 major blockchains, hundreds of EVM-compatible chains, and over 250,000 cryptocurrencies. Bitget Wallet enhances liquidity by aggregating it across hundreds of top DEXs and cross-chain bridges, facilitating seamless trading on nearly 50 blockchains.
Road Town, British Virgin Islands, June 25th, 2024, Chainwire
Promontory Technologies is excited to announce the launch of its Promontory Alpha Fund, a quantitative, systematic, multi-strategy approach to trade liquid listed digital (“crypto”) assets. The fund is designed to be market-neutral and avoid deep drawdowns, offering both a BVI vehicle for non-US investors and a Delaware LP for US investors.
Promontory’s CEO, Jackson Fu, was a day-one co-founder of the highly successful Qilin Investment, a top-rated quant hedge fund manager based in Shanghai. Since its launch in 2016, Qilin has managed USD $5-7 billion in AUM with excellent risk-adjusted performance, earning it the nickname “The DE Shaw of Asia”. The Promontory team includes several key members from Qilin and brings a strong pedigree in the quant systematic trading space to the crypto markets.
Notably, the new fund has attracted capital from investors such as prominent Asian family offices and billionaire entrepreneurs, which the team hopes will underscore confidence in Promontory’s approach and team.
Joining Jackson at Promontory from Qilin, are CIO Robin Liu, and several top quants and developers. Robin previously managed a USD $100 million (5,000 BTC) quant crypto strategy at Amber Group. The Promontory team, now 15 strong, includes seasoned professionals from BlackRock, Brevan Howard, Deutsche Bank, Morgan Stanley, OKX, Huobi, Gate, and WorldQuant.
Promontory’s strategy uses advanced quantitative techniques, data science, AI, machine learning, and risk modeling to identify uncorrelated alpha in liquid digital assets. By diversifying capital and risk across a broad mix of sub-strategies and factors, the strategy achieves strong diversification and multiple sources of alpha. The team has adapted and honed their models and algorithms over several years to work successfully in the crypto space and has been trading these models in the crypto markets.
Jackson commented, “We are thrilled to launch our external co-mingled fund vehicle. Our key value proposition lies in our ability to outperform traditional hedge funds by capitalizing on crypto’s high volatility and inefficiencies, all while avoiding the significant volatility and drawdowns of the underlying crypto assets through highly structured and repeatable trading processes and algorithms.”
The strategy is offered in USD, BTC, and ETH share classes and provides separately managed accounts.
Promontory Technologies is the premier digital asset management firm dedicated to serving family offices, institutions, and high net worth individuals. Promontory provides digital asset exposure, risk management and diversification through a quantitative systematic hedge fund, venture capital, market making and OTC services.
The firm is helmed by a team of seasoned executives who have successfully managed a quantitative hedge fund with over US$7 billion in AUM in the traditional securities markets, as well as a crypto quantitative hedge fund with over US$200 million in AUM.
Contacts
Investor Relations Director
Charles Man
charles.man@promotechfi.com
Investor Relations Director
David Scicolone
david.scicolone@promotechfi.com
Bitcoin briefly dropped below $59k on Monday as Mt. Gox plans to repay some of its clients.
Solciety has raised $400k in a week as its 30-day presale begins excellently.
BTC slips below $59k as buyers suffer losses
The cryptocurrency market is having a poor start to the week, with Bitcoin and other major cryptocurrencies currently in the red. Bitcoin, the leading cryptocurrency by market cap, lost more than 4% of its value on Monday and briefly dropped below $59k per coin.
The poor performance comes as Mt. Gox announced repayment plans starting in July that could see more than 140,000 bitcoins dumped into the market. Some investors anticipate that the Mt. Gox bitcoins could lead to a decline in Bitcoin’s price. At press time, theprice of Bitcoinstands at $60,520.
What is Solciety?
While the general trend of the market has been bearish so far this week, the market is still in a bullish cycle and interesting projects continue to emerge. One project that investors could keep an eye on isSolciety.
Solciety is a meme coin that seeks to become a leader in the PolitiFi meme ecosystem. According to the development team, Solciety wants to become the very first political party of degens. This meme coin is pegged to the only real-world currency: attention. The project wants to become a platform to spread the degen gospel across the Twitterverse.
Solciety’s development plans
Although Solciety will launch as a meme coin, it will provide value to investors and users.Solcietywill offer the Meme Campaigner, a tool that allows users to create their own meme coins. The tool will also offer users over 200 traits, backgrounds, and fonts.
The development team revealed that the tool can allow users to create and share memes on Twitter to earn points. Users will earn one point for every meme shared, the points will be collected and the top ten users will earn presale tokens.
The Solciety presale has begun and will last for only 30 days. The funds raised from the presale round will be channelled towards developing new tools such as Solciety’s AR. The Augmented Reality tool will allow users to view their weird and wonderful meme creations layered over the real world.
Furthermore, some of the funds will go towards developing Solciety’s AI, which will be launched in the first quarter of 2025. The AI will facilitate natural language programming to autogenerate captions and translate memes into other languages.
Solciety raises $400k in a week
TheSolcietypresale began a week ago and has already reached an important milestone. So far, the presale has raised $399,588.
The presale would run for 30 days and have ten stages. Early investors enjoyed a heavily discounted price of $0.000963 in the first stage.
The presale is currently in its third stage, with the SCLTY token going for $0.002222. The SLCTY token’s price will increase every 72 hours, with early investors enjoying an astonishing 125% surge in price before the presale ends.
According to the project’s tokenomics, the presale offers 30% of the supply with 3 billion tokens available to early investors. Meanwhile, 20% of the tokens have been allocated to marketing and 10% to community rewards and incentive programs. Finally, liquidity will account for 17%.
Should you buy the SLCTY token?
Meme coins have become an important part of the crypto ecosystem thanks to massive adoption by degens. Solana has become home to some of the crypto ecosystem’s leading meme coins and DeFi protocols thanks to its transaction speed, security, and transparency,
By launching on the Solana blockchain,Solcietyis leveraging the network’s features to provide unique utilities to its users. SLCTY is launching in a booming PolitiFi ecosystem and could record massive growth as the elections in the United States and some parts of Europe draw closer.
By allowing users to create their meme tokens and share them on social media platforms, Solciety is promoting quality content creation and encouraging the Degen movement. Its native SCLTY token could become a leading meme coin with the right level of adoption.
The ZK Compression uses zero-knowledge proofs for data compression.
The ZK Compression slashes Solana on-chain storage costs by 99%.
The ZK Compression operates as an integrated L1 solution, avoiding typical L2 complexities.
Light Protocol and Helius Labs have unveiled a groundbreaking feature known as ZK Compression on Solana, aimed at revolutionising how data is stored on the Solana blockchain by significantly reducing on-chain storage costs.
Launched on June 21, ZK Compression harnesses zero-knowledge (ZK) proofs to compress on-chain data, promising immense scalability improvements and cost savings.
How does the ZK Compression work?
At its core, ZK Compression leverages zero-knowledge proofs to compress and verify off-chain data on Solana’s Layer 1 (L1) network.
By employing sparse state trees and hashing techniques, ZK Compression minimizes the amount of on-chain data required while maintaining data integrity and security.
This approach allows developers to store crucial information more efficiently, translating into substantial cost reductions. For example, according to the Helius Labs’ CEO, the cost of storing 100 compressed token accounts can plummet from 0.2 SOL to just 0.0004 SOL — a staggering 5000-fold decrease.
Solana’s implementation of ZK Compression marks a departure from traditional storage methods, where each piece of data necessitates significant on-chain resources. Instead, by storing only essential verification information on-chain and utilizing ZK proofs to validate the integrity of off-chain data, Solana achieves unparalleled efficiency in data management on its blockchain.
Comparing ZK Compression with Layer 2 solutions
Unlike conventional Layer 2 (L2) scaling solutions, which often require additional security measures and governance structures, ZK Compression operates seamlessly within Solana’s existing validator framework.
This distinction allows Solana to bypass typical L2 complexities while retaining the economic incentives and security assurances of its primary blockchain layer.
Although critics argue that labeling ZK Compression solely as an L1 enhancement overlooks its functional similarities to L2 technologies like ZKrollups, proponents emphasize that Solana’s approach simplifies scalability without compromising on the core benefits of blockchain decentralization and security.
By focusing on efficiency and cost-effectiveness, Solana positions ZK Compression as a robust alternative to traditional L2 solutions, appealing to developers seeking streamlined scalability solutions without the overhead of additional layers.
What does the ZK Compression mean for Solana?
The introduction of ZK Compression holds profound implications for the blockchain industry, particularly in enhancing the feasibility and scalability of large-scale applications on Solana.
For instance, projects involving extensive data storage or frequent transaction processing, such as decentralized finance (DeFi) protocols or non-fungible token (NFT) marketplaces, stand to benefit significantly from reduced operational costs and improved throughput.
Moreover, Solana’s commitment to advancing blockchain scalability through ZK Compression underscores its ambition to foster innovation and attract a broader developer community.
As the technology matures and adoption grows, ZK Compression could pave the way for new use cases and applications that leverage Solana’s high-performance blockchain infrastructure.
Japanese firm Metaplanet announces 1 billion yen ($6.2 million) BTC purchase.
Funds will come from proceeds of a bond issuance.
Metaplanet, a top Japanese investment firm that has recently adopted the Bitcoin strategy by adding BTC to their balance sheet, has announced plans to buy more BTC.
The company is looking to add over $6.2 million more worth of Bitcoin, using funds from an upcoming bond issuance.
Metaplanet to buy more BTC
Per details shared in an announcement, the bond payments are set for June 26, 2024 and Metaplanet will use the proceeds to buy more Bitcoin. It’s a move that would bring its holdings to more than $15 million. The firm holds 141.07 BTC after its recent 250 million yen purchase.
The firm’s Board of Directors confirmed the decision to buy 1 billion yen worth of Bitcoin to add to its balance sheet on Monday.
“While our basic policy is to hold Bitcoin for the long term, if we use Bitcoin for operations or other purposes, the corresponding Bitcoin balance will be recorded as current assets on the balance sheet.”
Metaplanet pivoted towards Bitcoin in April, with the initial objective being to adopt BTC as a reserve asset as a way of cutting the firm’s yen exposure. The investment advisor also targets providing access to crypto investing for Japanese investors.
With $9 million in BTC already, Metaplanet’s holdings of the benchmark cryptocurrency pale in comparison to Bitcoin behemoths like MicroStrategy. Following its recent purchase (an additional 11,931 BTC for $786 million) MicroStrategy now holds 226,331 bitcoins acquired for about $8.3 billion.
While a drop in the ocean in comparison, the investment firm’s decision to go the Bitcoin way has attracted positive forecasts from market experts and observers. In most cases, many see this as another potentially huge shift across the market.
Bitcoin traded around $62,440 on Monday morning, about 3% down in the past 24 hours.
CoinStats has temporarily shut down its app after the June 22 security breach.
Users are advised to transfer funds immediately using exported private keys.
Scam notifications have been distributed through the CoinStats push notification and an in-app message.
On June 22, CoinStats, a prominent cryptocurrency portfolio tracking app, experienced a significant security breach impacting 1,590 user wallets, representing about 1.3% of all the portfolio tracker wallets.
The incident, believed to be perpetrated by hackers linked to North Korea, led to immediate action from the crypto portfolio tracker, including temporarily shutting down the app and advising users to transfer their funds using exported private keys.
The hackers, suspected to have connections with North Korea, reportedly managed to compromise these wallets while leaving connected wallets and centralized exchanges (CEXes) unaffected, raising significant concerns about the security of the wallet generation process and the storage of private keys within CoinStats.
Upon discovering the breach, the crypto portfolio tracker took swift action to mitigate the attack by suspending all user activity and temporarily shutting down the application.
In addition, the CoinStats team advised users with affected wallets to move their funds immediately using their exported private keys.
To assist users, CoinStats published a Google document listing the affected wallets, with a note that the list might change as the investigation progresses.
Scam notification sent to some CoinStats’ users.
Besides the security on June 22, the cryptocurrency portfolio tracker also faced an additional issue with a scam notification sent to some iOS and Android users.
The notification falsely claimed users had won a 14.2 ETH prize and directed them to log into a fraudulent CoinStats AirScout wallet via a Drainer website.
Hey frens,
Some iOS users received a scam notification. We're investigating it.
Sorry for the inconvenience. We'll update you ASAP.
Interestingly, this scam was distributed through a CoinStats push notification and an in-app message, adding another layer of urgency for affected users to secure their funds.
Investigations are currently ongoing
The CoinStats team, led by CEO Narek Gevorgyan, is actively investigating the extent of the compromised funds and the cause of the attack.
They are restoring the production environment with enhanced security measures and aim to bring the app back online swiftly.
During this period, users have been advised to remain vigilant against potential scammers who may exploit the situation by pretending to offer help.
The breach has sparked concerns about the potential weaknesses in the wallet generation process and private key storage on CoinStats’ servers.
Speculation suggests that attackers may have gained insights into the randomness of the wallet generation process, enabling them to predict private keys and compromise user funds.
While no connected wallets or API connections have been reported as affected, some users have claimed that other wallets connected to DeFi features were drained. However, these claims remain unconfirmed.
The crypto portfolio tracker has assured users that connected wallets, which require only read-only access, remain safe under any conditions.
JasmyCoin surges 12% as price defies broader crypto market
JASMY could flip to $0.04 if bulls hold above key support level
JasmyCoin (JASMY), the native token of a Japan-based cryptocurrency project for decentralized data, has witnessed a significant price increase as most top altcoins mirror Bitcoin’s consolidation in the past month.
On June 23, JASMY price was up 12% – more than any other token in the top 100 by market cap.
As BTC and ETH hovered around the $64k and $3.5k price levels respectively, JasmyCoin was trading above $0.033, seeing a notable surge in daily volume and one of the top trending crypto tokens in the market.
JASMY price – what happened?
While JasmyCoin remains nearly 7% down in the past week, the past 24-hour gains have helped stem recent rot that saw JASMY fall to around $0.027.
The declines had accelerated once JASMY retreated from above $0.044 in early June, with a breakdown to $0.030 coinciding with Bitcoin’s sharp descent this month. As the crypto market struggled with sell-off pressure amid macroeconomic events and miner selling, JASMY broke below a technical support area to reach lows of $0.027 on June 21.
Today’s upside is a continuation of the bullish flip over the past two days.
According to CoinGecko data, this cryptocurrency has recorded a decent 24% uptick in 24-hour trading volume, currently at over $200 million. On the previous day, volume reached $176 million as price moved from near $0.029 to $0.032.
The technical picture for JasmyCoin suggests a slightly upper hand for bulls.
As shown above, the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) on the 4-hour chart both offer this advantage. The chart also shows JASMY is nicely poised despite the retreat from the resistance line of the Bollinger Bands.
Thedaily charthowever shows RSI and MACD slightly favouring bears.
In this case, buyers must hold price above the psychologically important $0.030 level to prevent a bearish flip. On the upside, JASMY coin’s major hurdle could be around $0.38-$0.040.
Beyond market trends, FLOKI has emerged as a significant entity in the meme coin sector. Its success is driven by practical applications, a robust presence, and a dedicated community.
A key factor behind FLOKI’s prominence is its strong community support. Notable mentions include a tweet from Elon Musk’s parody account with 207k followers, stating, “FLOKI objectively offers much better utility than other memecoins on the market.” Crypto analyst Crypto_Scofield also praised FLOKI’s rapid development, noting its leadership among major meme coins like $PEPE, $WIF, and $BONK.
Social Media and Community Engagement
Data from LunarCrush, a social media analytics tool shows that, in the last six months, FLOKI’s social interactions skyrocketed by 320%, and its social dominance was up 109%. Social Dominance measures the “share of voice” across social media, as per LunarCrush.
FLOKI has been actively pursuing new developments to strengthen its ecosystem. The team introduced a trading bot and achieved major listings, like Kraken adding FLOKI to its exchange listing roadmap, just in the last 24 hours.
FLOKI introduced a Telegram based trading bot tool that enables holders to trade any token on the BNB Chain network. Public availability is expected in mid-June. The service will later be expanded to the Ethereum and Base blockchains. The bot, requiring FLOKI tokens for use, aims to increase token demand through a fee structure that supports buying pressure. The bot charges a 1% fee on every transaction, with 50% of the collected fees used to buy FLOKI on the open market, thus contributing to buying pressure.
Some other examples of utility include FLOKI launching a decentralized domain name service on the BNB Chain mainnet. This service allows users to create .FLOKI domain names, representing their on-chain identities.
FLOKI roadmap shows that it is in talks to offer digital banking accounts in partnership with a licensed fintech firm. Users can link these accounts to FLOKI debit cards for smooth transactions in euros, US dollars, and more.
Another major project in progress is the launch of Valhalla, FLOKI’s play-to-earn NFT gaming metaverse.
Furthermore, FLOKIFi Locker Protocol has also been integrated into DEXTools. Collaborations with Inverse Finance and Venus Protocol allow users to stake their FLOKI tokens and use them as collateral for borrowing major cryptocurrencies like BTC and ETH.
The partnership goes beyond the ecosystem, i.e IRL events too.
Looking ahead, FLOKI’s marketing efforts are likely to be even more impactful than in the past. As explained in a tweet by Sabre, Advisor, Creative Marketing Director, FLOKI, the past marketing partnerships are likely to be eclipsed by what’s to come.
To name a few, FLOKI became the sleeve sponsor for Kerala Blasters FC, a popular soccer team in India. Along with being the shirt sponsor of The India Maharajas. This partnership introduces the FLOKI brand to over 700 million cricket fans globally.
FLOKI and its sister token, TokenFi, also formed a strategic marketing partnership with two legendary cricket teams, the Manipal Tigers and the Bhilwara Kings.
The team also partnered with Spanish soccer team Cádiz CF, part of the La Liga division. The FLOKI logo features prominently on the jerseys and LED displays of SSC Napoli and at events hosted by World Table Tennis (WTT), reaching over half a billion Tennis fans.
Last but not the least, FLOKI appeared on the Alfa Romeo F1 Team ORLEN cars in 2022 throughout the season.
Marketing and Strategic Partnerships
FLOKI has launched several aggressive marketing campaigns to boost adoption and awareness worldwide. The platform anticipates that upcoming initiatives will surpass the impact of previous efforts.
In Nigeria, the team announced a three-month campaign targeting the country’s high percentage of crypto users, including advertising on major news platforms and business publications and collaborating with 16 digital influencers to reach over 93 million people.
In Vietnam, FLOKI initiated a comprehensive campaign aimed at the crypto user base with extensive advertising and local events to engage the community and build brand loyalty. Vietnam, which ranks 15th in global population, also has one of the highest crypto adoption rates.
FLOKI has also made strides in Turkey, featuring prominently on television with commercials on popular channels to leverage Turkey’s large and active crypto community. In the Middle East and North Africa (MENA) region, FLOKI’s marketing initiatives include high-profile campaigns in countries like the UAE, where crypto adoption is rapidly growing.
In the United States, FLOKI executed high-visibility billboard campaigns, notably in New York City’s Times Square prime location beside the Nasdaq billboard in Times Square, capturing the attention of hundreds of thousands of passersby.
FLOKI’s educational initiatives include regular AMA sessions. These sessions provide transparency and allow direct engagement with the community.
With TokenFi joining its ecosystem, FLOKI plans to tap into the growing tokenization industry, projected to be worth $16 trillion by 2030, according to BlackRock CEO Larry Fink.
Summarizing FLOKI’s strategy, Sabre explains it well: “attract retail investors, run impactful marketing campaigns, and leave a lasting impression.”
Financial and Ecosystem Milestones
Meanwhile, the FlokiFi platform has a total value locked (TVL) of $110.56 million secured through 2,372 locks. It supports 16 different blockchains and has locked 86 NFTs. Moreover, over 2.3 trillion FLOKI tokens, valued at $436.61 million, have been secured in the FLOKI staking program.
In a show of strong support, DWF Labs said it will purchase $12 million in FLOKI tokens. This purchase will be a mix of market acquisitions and tokens from the Floki treasury.
As of 2024, FLOKI has been one of the top performers, rising more than sixfold year-to-date. About 86% of FLOKI holders are in profit, according to data from IntoTheBlock.
About Floki
Floki is the people’s cryptocurrency and utility token of the Floki Ecosystem. Floki aims to become the world’s most known and most used cryptocurrency and intends to achieve this ambitious goal through a focus on utility, philanthropy, community, and marketing.
Floki currently has 490,000+ holders and a strong brand recognized by billions of people worldwide due to its strategic marketing partnerships.
