While the crypto market bled hard due to a bear market mostly induced by macroeconomic factors, two cryptocurrencies stood out in particular:
The Terra (LUNA) and Terra Classic (LUNC) cryptocurrencies both witnessed a peak 400 – 600% rally from their August lows. All while major cryptocurrencies, including blue chip cryptocurrencies Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Chainlink (LINK) are still down from their August highs.
Terra and Terra Classic have one thing in common, and this one thing indicates it might be a good idea to start paying attention to Floki (FLOKI).
What does Terra (LUNA), Terra Classic (LUNC), and Floki Inu (FLOKI) have in common?
The massive rally witnessed by both Terra and Terra Classic during a prolonged bear market with unfavorable macroeconomic conditions has to do with more than just fundamentals. Instead, it is due to both tokens having a strong community and shows that community tokens like Floki will be big winners during this bear market.
The reason both Terra Classic (LUNC) and Terra (LUNA) rallied hard is because they are community tokens. While that might appear to be oversimplifying things, it isn’t.
While Terra Classic recently successfully pushed a proposal to introduce a burn mechanism which to an extent served as a catalyst, Terra (LUNA) had no such proposal or catalyst yet it rallied 400% from its lows as well.
Many projects have announced significant development milestones in this bear market and it hasn’t made much of a difference. The impact of these milestones tend to be amplified for community tokens, however – due to their communities being very vocal about getting the word out about their project’s development, which helps these tokens stand out in a bear market where very few are talking about cryptocurrencies.
Cryptocurrency enthusiasts interested in community tokens with long term potential should especially pay attention to Floki (FLOKI).
Like Terra and Terra Classic, Floki is a community token with a massive army that has a strong track record of trending the Elon Musk-inspired cryptocurrency on Twitter on an almost daily basis. Unlike Terra Classic (LUNC), however, Floki isn’t just your average community token. It has a strong utility roadmap and exciting development catalysts coming for it.
FlokiFi Locker Mainnet Launch Makes Floki (FLOKI) Worth Paying Attention To
One major catalyst FLOKI has for it is the launch of its FlokiFi Locker protocol on mainnet this month.
FlokiFi Locker is Floki’s innovative digital asset locker protocol that allows users to securely lock NFTs, Liquidity Pool (LP) tokens, and fungible tokens.
Floki has announced over a dozen different partnerships for the protocol prior to its launch on mainnet, and more are expected to be announced after the protocol’s mainnet launch. Major partners that will be using FlokiFi Locker include Avalanche’s biggest DEX Trader Joe, BNBChain’s heavyweight DEX Apeswap, mainstream retailer brand turned crypto DEX Radioshack, and many more.
In a way that is similar to the LUNC proposal, Floki’s FlokiFi Locker protocol has a transactional buyback and burn feature that automatically executes a buyback and burn of the FLOKI token using 25% of fees from every transaction on the protocol.
Innovative utility like the FlokiFi Locker protocol makes Floki (FLOKI) more than just a community token but is a cryptocurrency that expertly blends the power of a massive community with innovative utility.