Erik Weijers, 2 months ago

Floki targeting the Chinese market

Floki Inu will release a Chinese version of Valhalla, the testnet metaverse game that includes FLOKI tokens. Floki will also run an airdrop campaign for users of Btok, a Chinese social media platform. 

China is the world's largest market for video games, but traditionally not very welcoming to crypto. Even though the authoritarian state recently made headlines for signs it seems to be relaxing its stance on crypto (tax it, not fight it). Still, nothing is confirmed yet. Apparently, the Floki team didn't wait for anyone's approval and simply decided to launch. Go, Floki Vikings! 

FlokiFi's TVL increases

Another sign that Floki developers are not sitting on their hands is that their DeFi product FlokiFi, a digital asset Locker, has seen a big increase in Total Value Locked (TVL) in recent months. FlokiFi is a protocol for securing your digital assets in a smart contract, such as NFTs and tokens. Even though the figure of $10 million won't impress any 'established' Layer 1 blockchain, it is noteworthy to know that the TVL of the FlokiFi Locker was only $3 million at the beginning of January 2023. 

Dogcoins doing well in January

Floki Inu is currently the fourth most popular dog coin on the market, behind Dogecoin (#9 on Coingecko), Shiba Inu (#14) and Baby Doge Coin (around #90). Floki climbed to around #150. Sitting at 270 million dollars, its market cap is still vastly smaller than Dogecoin's 12 billion.

The most important dog coins all outperformed Ethereum in January (ETH doing +33%), and all but one outperformed BTC (+40% in January). Here are some stats for you dog lovers: 

  • Dogecoin: +37%
  • Shiba Inu: +46%
  • Baby Doge Coin: +70%
  • Floki: +204%

The pups are growing up fast!

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