- TokenFi, a protocol token launched by Floki, has recorded a significant increase in its value in the last 24 hours.
- The price surge comes on the back of a series of accusations between Floki’s team and crypto exchange Bitget.
- Floki’s team had accused Bitget of listing a fake version of the token, while the crypto exchange accused the team of market manipulation.
TokenFi, a protocol token launched by meme coin Floki, has seen an upward trend in its price. The token, which became available for public trading on October 31st, experienced a 41.6% spike in 24 hours, according to data from CoinGecko.
Indeed, the token saw an increased inflow of funds, as investors poured over $5.7 million into it in the past 24 hours. At the time of press, the token is exchanging hands at $0.02749520. Since its launch, the token has outperformed several cryptocurrencies.
TokenFi is a platform developed by FLOKI to capitalize on the booming tokenization market by providing crypto and asset tokenization services. According to Floki, the tokenization industry is projected to be a $16 trillion industry by the year 2030.
However, the recent inflow of funds comes on the back of recent issues around the token. Notably, the TokenFi protocol team and crypto exchange Bitgert had made several accusations against each other concerning the listing.
Notably, Floki’s team alleged that Bitget listed the coin before its official launch, dubbing it a “fake token.” According to the team, they had asked all exchanges to wait to list the token until at least seven days after launch. However, Floki said, “They (Bitget) listed a fake version of the $TOKEN token 12 minutes before we made it officially tradable on the blockchain.”
Bitget, on the other hand, denied the allegations made by the Floki team. Instead, they accused the Floki team of market manipulation by controlling early liquidity and delisted the coin.
Apart from the spike in trade volume, TOKEN has also attracted a cumulative total of 11.74K holders, according to data from DEXTools. At the time of press, the token has a market value of $127.65M.
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