Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
The price of dog-themed token floki surged by more than 100% in the past 24 hours as a proposal to burn 2% of the token’s supply was passed by the community,
Nearly 90% of votes favored the burn, with the top voter staking 117 billion tokens. The event is expected to occur after a seven-day period. Burns refers to permanently removing tokens from circulating supply by sending them to a crypto wallet that no one controls. Floki previously conducted a burn event in January 2023.
Last week, developers proposed removing 190 billion tokens, worth $11 million at the time, increasing network security and boosting bullish sentiment for the tokens. The burn plansThe tokens for the proposed burn will originate from the supply stored on the Multichain bridge. Multichain was a platform that let users transfer tokens between various networks – but imploded in July 2023 after an exploit saw over $130 million in funds stolen from the platform.
A euphoria around meme coin investing likely contributed to the massive FLOKI surge, with prices of prominent tokens dogecoin , shiba inu and bonk up more than 50% in the past week.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Near Protocol Price Forecast: NEAR leads recovery, eyes 100% upswingNear Protocol (NEAR) price shows strong signs of buying pressure as it leads the recovery rally with a 21% upswing in the last three days.
Read more »
ETFs May Boost Institutional Investment in Ethereum, but Unlikely to Cause Price SurgesEther spot-exchange traded funds (ETFs) may increase institutional investment and power the world’s most-used blockchain, but is unlikely to create euphoric price surges, some market observers opined.
Read more »
Top Meme Coins WIF, PEPE, SHIB, FLOKI, and BONK Skyrocket Triple Digits Weekly (Market Watch)Crypto Blog
Read more »
The 100 Very Best Restaurants in Washington, DCThe website that Washington lives by.
Read more »
Megan Thee Stallion’s ‘Hiss’ Debuts at No. 1 on Billboard Hot 100Plus, Benson Boone’s “Beautiful Things” hits the top 10.
Read more »
YouTube’s Premium And Music Paid Services Hit 100 Million SubscribersI'm a Forbes technology reporter and senior writer based in San Francisco. Send me tips at rnievaforbes.com or richardnievaprotonmail.com.
Read more »