Floki has announced a significant milestone, surpassing its previous staking record with tokens valued at $137 million now locked away from circulation. This marks a substantial increase from the previous high of $105 million recorded less than 24 hours ago.

This development greatly benefits the community by strengthening the ecosystem's fundamentals. Nearly 25% of the total supply has been removed from circulation, representing roughly 26% of circulating tokens. This reduction in circulation contributes to a rise in price and allows stakers to earn $TOKEN in exchange for FLOKI.

Users have staked their holdings for a maximum period of 4 years, during which they will continue to receive rewards. Interested users can stake FLOKI on the official Floki staking platform. In comparison to similar coins like PEPE, BONK, SHIB, and DOGE, Floki's fundamentals have been reinforced.

This milestone has driven the price of FLOKI upwards, currently reflecting a value of $0.00005701, marking a surge of 31.45% in the last 24 hours and a rise of 77.15% in the last 7 days. Additionally, there has been an increase of 94.49% in the last 30 days, with a notable uptick in the 24-hour trading volume by 162.707%.

Looking ahead, the Floki team has announced an AMA session with the Core Team scheduled for March 4, 2024, at 11 a.m. UTC on its official Telegram channel. This development follows DWF Labs' pledge of a $10 million investment in the ecosystem to support aggressive growth and enhanced dominance in the market.

The ongoing partnership between Floki and DWF Labs, which began with an initial investment of $5 million in Floki tokens, aims to increase the utility and marketing efforts of the ecosystem. DWF Labs has been instrumental in facilitating listings on key crypto exchange platforms, driving token adoption, and promoting the achievements of the Floki ecosystem.

Floki recently introduced Patch 0.22.0, which includes updates such as an updated minimap, ship customization, a new clan island, and various quality-of-life improvements.

With the surge in Floki staking TVL reaching a new high, there is speculation that the token's market cap could reach nearly $60 billion, reflecting a 37.60% increase at the time of writing.