Floki developer plans to burn over $11 million worth of FLOKI tokens, accounting for 2% of the token's circulation
The Floki (FLOKI) development team plans to destroy 190,918,585,431.84 FLOKI tokens, accounting for 2% of the token circulation, currently valued at over $11 million to increase scarcity and network security.
Floki stated that they have transferred the tokens to a secure wallet and plan to destroy them to ensure they will not circulate again.
Previously, the platform had conducted a destruction event in January 2023 which resulted in a 70% price increase. The destroyed tokens will come from the supply stored by Multichain bridge connectors after the platform was exploited due to vulnerabilities and destroyed in July 2023.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MicroStrategy Could Be Removed From Major Global Stock Indexes
Bitcoin Reserve Model Faces Major Test! MSCI’s New Rules "Target" Strategy (MSTR.US): May Be Removed from Global Indexes, Tens of Billions of Dollars in Sell-off Pressure Await
Recently, MSCI Inc. approved new rules that could ultimately result in the removal of Strategy Inc. from its global equity benchmark index. This move may trigger stock sell-offs worth several billions of dollars and add new pressure to the financing model behind Michael Saylor's massive bitcoin holdings.
Alcoa (AA.US) reported third-quarter revenue of $3.7 billion, up nearly 24% year-on-year.
Alcoa reported its financial results for the third quarter of 2026 on Thursday, showing a revenue of 3.704 billion USD for the quarter.
Crypto prices
More
