Floki FLOKI/USD is up 16% in the last 24 hours, outperforming top two meme coins by market capitalization Dogecoin DOGE/USD and Shiba Inu SHIB/USD .
What Happened: This rise in value appears to be due to a strong bounce back in the cryptocurrency market, largely driven by Bitcoin BTC/USD.
The apex crypto crossed the crucial $30,000 resistance level for the second time this year, which has helped to reignite investor confidence.
Additionally, the cryptocurrency world has seen some major institutional buy-ins, further boosting investor sentiment.
Investment giant BlackRock's application for a spot Bitcoin ETF has broken barriers, with Deutsche Bank soon to follow in applying for a digital asset licence. Meanwhile, Fidelity, Citadel, and Charles Schwab have launched a crypto exchange EDX, offering trading in four cryptocurrencies.
See More: A Stay At The Floating Palace From James Bond's ‘Octopussy’
Why It Matters: Another factor contributing to Floki’s recent success is the news that it has secured a new exchange listing. Floki Futures will be listed on WOO X.
Floki has also recently scored a new listing on Bitci, a top cryptocurrency exchange in Turkey with over five million registered customers.
Earlier this month, Floki said it is implementing a new strategic marketing partnership with Binance Pay. Customers who make purchases worth at least $1 from approved Binance Marketplace merchants will receive rewards.
Price Action: At the time of writing, FLOKI was trading at $0.00002703, according to Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
