DWF Labs, a digital asset market maker, has purchased another $1.2 million worth of FLOKI tokens from the Floki treasury, showing its support for the TokenFi project. The FLOKI price has surged by 24% following the announcement.
FLOKI, a Web3 project that aims to create a decentralized ecosystem for content creators and consumers, has announced that DWF Labs, one of its strategic partners, has executed a significant purchase, acquiring an additional $1.2 million worth of FLOKI tokens directly from the Flo ki treasury.
The purchase was made on December 5, 2023, and marks the second time DWF Labs has bought many FLOKI tokens in the past two months.
DWF Labs Shows Support for TokenFi
DWF Labs, a leading digital asset market maker that provides liquidity and trading solutions for crypto projects, has expressed its confidence and commitment to the Floki Ecosystem by adding more FLOKI tokens to its portfolio.
The firm also stated that it supports TokenFi, Floki’s sister project that aims to disrupt the tokenization and real-world assets (RWA) industry, projected to reach $16 trillion by 2025.
DWF Labs believes that TokenFi has the potential to revolutionize the RWA market and create new opportunities for investors and entrepreneurs. The firm also sees TokenFi as a complementary project to Floki, as both share the same vision of empowering users with Web3 technologies.
FLOKI Price Jumps 24%
Following the announcement of DWF Labs’ purchase, the FLOKI price experienced a meteoric rise, catapulting its value to $0.00004488. This surge was marked by a 24.68% increase in the last 24 hours, according to CoinMarketCap. The token is also up 40% from the last 7 days, showing a strong bullish momentum.
The FLOKI price rally reflects the project’s growing demand and popularity, attracting attention from various influencers, celebrities, and media outlets.
FLOKI claims to be the first Web3 project that combines content creation, social media, and DeFi in one platform, offering users a unique and rewarding experience.
FLOKI also boasts a loyal and active community, dubbed the “Floki Army.” The community has been supporting the project’s development and adoption, as well as participating in various events and campaigns.
DWF Labs’ Previous Purchases
This is not the first time that DWF Labs has purchased a massive amount of FLOKI tokens. Previously, the firm finalized an over-the-counter (OTC) token purchase in early November, acquiring 120 million FLOKI tokens from the Floki treasury.
The transfer was executed in two tranches of 60 million tokens each and originated from Floki’s multisig wallet.
The OTC purchase was seen as a sign of DWF Labs’ long-term vision and strategy for the Floki Ecosystem, as well as a vote of confidence for the project’s prospects.
DWF Labs also stated that it would provide liquidity and trading support for FLOKI, as well as collaborate with the project on various initiatives and innovations.
DWF Labs’ first partnership with Floki surfaced in May 2023, when the firm bought $5 million worth of FLOKI tokens, becoming one of the project’s seed investors. Since then, DWF Labs has played a pivotal role in fostering Floki’s growth and success, as well as contributing to the development of the Web3 space.
