Key Insights:
- FLOKI crypto is expanding its flagship metaverse game in India and Middle East.
- FLOKI, being MiCA compliant, means it was eligible to be tradable on European stock exchanges. Thus, an ETP could be on its way.
- FLOKI was on a price retracement after a minor correction, with +20% gains in sight.
The Metaverse is here with us. Floki crypto (FLOKI) was upgraded from a memecoin to a gaming token. The main layer of the blockchain was Binance Smart Chain (BSC). The move came as crypto communities transitioned from holding coins just for the sake of it to a utility-based approach.
Since the upgrade of the FLOKI crypto ecosystem, the price of the memecoin has been in recovery mode. The GameFi lineup on FLOKI continues to thrive with Valhalla as the flagship project. Meanwhile, FLOKI was also a force to be reckoned with in the DeFi and NFT sector.
According to a post on X (formerly Twitter), the memecoin was expanding its reach in gaming as it plans to roll out more games and NFTs.
FLOKI Crypto Expands Reach For Their Metaverse Game
Valhalla, FLOKI’s Metaverse game, has been flying the ecosystem’s flag high. The community was strategically expanding its reach in India and the Middle East. They were targeting millions of cricket fans. The play-to-earn game was aiming to partner with more sponsors in the sports sector.
From these games, the ecosystem introduced ways to earn. Gamers earn from completing quests, battling opponents, and other activities in real time. For those who did not fancy gaming, staking rewarded them.
At the time of writing, FLOKI crypto had no other game that was live. However, they hinted at enlarging this portfolio. The event was set to bring more attention to the ecosystem, especially the GameFi sector.
Why Are The Odds Of A FLOKI Crypto ETP Rising?
More importantly, since FLOKI crypto was compliant with Markets in Crypto Assets Regulation (MiCA), it was eligible for trading in the European markets. This clearly indicated that a FLOKI crypto ETP could be on its way.
The ETP launch was planned for early January 2025, but failed. The Core Advisor, Da Viking, expressed the inevitable hurdles holding the launch back. However, the advisor noted most of the technicalities had been sorted. Still, there was no defined time span when this would materialize.
Crypto ETPs are a great way to find exposure. Those skeptical of how crypto works tend to lean on ETPs and ETFs as they literally behave the same way as traditional assets.
The community still awaits the ETP to go live, which would expand its reach in the EU countries. This would see prices of FLOKI crypto go parabolic, especially if methods of cutting the circulating supply were implemented.
FLOKI Price In A Correction, Eyes 20%+ Rally
The technical outlook of the memecoin was bullish, with FLOKI price now above the 200 SMA. However, it had dropped by about 3.38% in a day. The market cap was $20 million short of the $1 billion. A volume-to-market-cap ratio of 12% hinted at the existence of enough liquidity to trade the token.
The price action was lined up to complete its last leg of the Elliott wave pattern. Completion of the wave would set the memecoin to a new ATH. However, the zone at $0.000206 had to be flipped to pave the way. Otherwise, the bear could take control of this zone.
Aside from the technicals, whales were scooping FLOKI crypto tokens and sending them for staking. One serious anonymous buyer scooped more than $70M worth of FLOKI and immediately sent them for staking.
Conclusion
Summarizing all these facts surrounding FLOKI crypto, it’s still unclear when the ETP will go live. The Valhalla reach was doing great, opening the door for more GameFi exploration on the FLOKI ecosystem. For price, these factors could greatly impact the market, depending on which side they fall on.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions
