The price of the Floki Inu token has skyrocketed in recent days.
It joined other popular cryptocurrencies like BTC and Jasmy.
Chancer’s pre-sales raised over $309,000 in about a week.
Cryptocurrency investors are getting greedy as attention shifts to so-called TradFi. The cryptocurrency-related fear and greed index jumped into the 55 greed zone, while the CNN Money index rose to the extreme greed zone of 75. Most cryptocurrencies jumped, with Pepe, Bitcoin Cash and Floki Inu climbing over 20% in the last 24 hours . At the same time, chance raised over $309,000 from investors in its token sale.
Why is the price of the Floki Inu token increasing?
Floki Inu is a popular coin that aims to have utility in the blockchain industry. Over the past few years, developers have launched the Floki ecosystem, which consists of a metaverse platform known as Valhalla, a DeFi product known as FlokiFi, and collections of NFTs.
The main reason why the price of Floki Inu is skyrocketing is the continued move towards traditional financing, known as TradFi. It is a trend where large traditional companies have started to adopt cryptocurrencies, especially Bitcoin.
The trend started last week when Blackrock filed for the iShares Bitcoin Trust. He hopes the SEC will give him approval to launch the first spot Bitcoin ETF. Such an ETF would allow investors to allocate funds to BTC without actually owning the coin.
Soon after, other financial services companies also applied for an ETF. Bitcoin. These are well-known companies such as Invesco and WisdomTree.
The other important news about cryptocurrencies was Deutsche Bank’s decision to apply for a license in Germany.
To be clear, the impact of this news around tradfi is negligible for most cryptocurrencies, as all of these companies have been focused on Bitcoin. As such, Floki Inu and other altcoins have rallied as the news helps ease recent regulatory pain.
Therefore, it is likely that the price of Floki Inu will continue to rise in the short term. If that happens, the next level to look at will be $0.00035.
Chancer Token Sale Gains Momentum
Another big news is that Chancer managed to raise over $309,000 in its very successful token sale. In it, the developers have sold over 30.9 million $CHANCER tokens. In the first phase of the sale, the token is sold for only 0.01 BUSD, which is equivalent to $0.01.
First, Chancer is a new venture that aims to disrupt the sports betting industry using blockchain technology. It is a multi-billion dollar business used by millions of people every day.
Chancer’s unique proposition is that it introduces the concept of social and predictive betting. This means that people can create their own betting markets that are not covered by traditional companies. For example, you can create a prediction market for a local council election or an awards ceremony.
Other features of Chancer are the ability to empower token holders by allowing them to vote on key issues and create their markets. There will also be a live streaming function on the platform.
The $CHANCER token, based on the Blockchain BSC, will be used to power the ecosystem. In the future, when it becomes fully decentralized, the token will be used for voting and staking purposes.
$CHANCER, is it a good buy?
Investing in presale tokens is always a high risk and highly rewarding thing. This is high risk as the token may drop to zero when thrown. It is also very illiquid in the early stages, which means it is difficult to get out of it.
But in other situations, investing in tokens during their pre-sale can bring significant profits. We have seen this recently in tokens like Pepe and Milady. Therefore, we recommend that you read first chances white paper then set aside a portion of your funds for it. You should only invest funds that you are willing to lose.