Floki project’s TokenFi makes it to Binance futures despite eventful debut with Bitget saga

Floki Inu (FLOKI) ecosystem made headlines earlier this week with launch of TOKEN and its ticker, TokenFi, as part of a greater goal to leverage the tokenization industry projected to be worth  $16 trillion by 2030. The premier, however, was controversial after Bitget exchange listed the a counterfeit TOKEN, making it available in the open market 12 minutes before FLOKI network made its actual TOKEN officially tradable on the blockchain.

Also Read: Floki Inu price drops 15% as TokenFi hype subsides

FLOKI network’s TOKEN rapid adoption continues to accelerate

After a week of controversial chatter between FLOKI, TokenFi, and Bitget exchange, TOKEN has secured listing on Binance, the largest exchange by trading volume, to be available for futures trading with up to 50X leverage. With this, the token joins the most liquid cryptocurrency perpetuals market, a move expected to substantially boost TokenFi's market liquidity even as it steers towards leveraging the projected $16 trillion tokenization market by 2030, driving broader adoption.

Barely a week since its premiere, TokenFi, the ticker for the TOKEN asset, already boasts remarkable numbers and commendable traction in the ecosystem. Based on a recent announcement on FLOKI’s official X account, it records 8,800 holders on the BNB and ETH chains, with an all-time high valuation of $55 million circulating and $550 million diluted market cap. The token has also secured listings on the industry's biggest and most respected exchanges.  

Meanwhile, the network is still in contention with Bitget, after the exchange listed a fake version of TOKEN. The FLOKI ecosystem recently exposed the centralized exchange’s failed attempts to manipulate TokenFi, detailing how the exchange sold more than $10 million worth of TOKEN to users that they did not have and according to FLOKI, “had no rights to list.”

FLOKI also revealed how Bitget forced the liquidation of all user positions on November 2, offering users less than 20% of the market value of the tokens that the users believed they had purchased legally on their platform.

FXStreet team has reached out to Bitget for a comment. 

At the time of writing, Floki Inu price is $0.00003044, registering a 0.83% value drop in 24 hours, with an ongoing load-shedding exercise. The meme coin has already confirmed that a trend reversal is in play. 

FLOKI/USDT 1-day chart