TokenFi Launched by Meme Coin Floki, Surges 41.6% in 24 Hours Amid Controversy
Crypto News – TokenFi, a protocol token introduced by the meme coin Floki, has displayed a remarkable upward trajectory in its market price. Launched for public trading on October 31st, the token recently experienced a substantial 41.6% surge in a 24-hour period, according to data sourced from CoinGecko.
Investors have exhibited heightened interest in TokenFi, funneling over $5.7 million into the token within the past 24 hours. As of the time of reporting, TokenFi is trading at $0.02749520. It has notably outperformed numerous other cryptocurrencies since its debut.
TokenFi represents a platform developed by the Floki team, with the primary aim of capitalizing on the burgeoning tokenization market by offering comprehensive crypto and asset tokenization services. Floki asserts that the tokenization sector is poised to reach a substantial value of $16 trillion by the year 2030.
However, the recent surge in funding coincides with a series of contentious issues surrounding the token. Particularly, the TokenFi protocol team and the cryptocurrency exchange Bitget have levied various allegations against each other concerning the token’s listing.
Floki’s team has claimed that Bitget prematurely listed the coin before its official launch, branding it a “fake token.” According to Floki, they had explicitly instructed all exchanges to refrain from listing the token until at least seven days following its launch. Floki stated, “They (Bitget) listed a counterfeit version of the $TOKEN token just 12 minutes before we officially made it tradable on the blockchain.”
Conversely, Bitget has vehemently refuted the allegations put forth by the Floki team. Instead, they have accused the Floki team of engaging in market manipulation by controlling early liquidity and subsequently delisted the coin.
In addition to the surge in trade volume, TokenFi has managed to amass a substantial 11.74K holders, according to data from DEXTools. At the time of this report, the token boasts a market capitalization of $127.65 million.
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