Crypto Whale Buys 1.2 Billion Floki Inu ($FLOKI) After New Exchange Listing

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A cryptocurrency whale has invested around $125,000 in the meme-inspired cryptocurrency Floki Inu ($FLOKI) after popular cryptocurrency exchange Bitrue announced it was listing Floki Inu in a trading pair against Tether’s USDT stablecoin.

As first reported by u.today, Bitrue’s official Twitter account announced the new listing on December 29, the day FLOKI started trading against USDT on its platform. A day later, Binance Smart chain and Ethereum whale monitor WhaleStats revealed a whale invested $125,000 to buy 1.2 billion $FLOKI.

Bitrue, according to available data, is a popular cryptocurrency exchange with a trading volume close to $2 billion per day. The Singapore-based trading platform made headlines in 2019 after being hacked for over $4 million in cryptocurrencies, and for launching a cryptocurrency-backed loan platform.

Data from WhaleStats shows that a 1.2 billion FLOKI stash makes the cryptocurrency whale an influential token holder, although the largest FLOKI wallet currently holds 51 billion tokens, worth over $5.3 million. The second-largest holds $3.1 million worth of Floki Inu.

Floki Inu is a well-known meme-inspired cryptocurrency that has launched “aggressive” ad campaigns. As CryptoGlobe reported, the team behind it has launched ads in Israel featured on “ “8 premium walls” as well as “180 billboards & signs” in Israel’s “20 most important cities.” These ads were planned to be seen “over 47.6 million times.”

Floki Inu launched earlier a  campaign on London’s public transport system with the slogan “Missed Doge? Get Floki” in a bid to “legitimize” the cryptocurrency and increase the “confidence of the average consumer” to buy it, according to the project’s head of marketing, which went by Sabre.




The price of the cryptocurrency exploded upward after the campaign went viral. At the time, it was revealed the campaign was going to be joined by others promoting the cryptocurrency in Los Angeles, Japan, China, and Russia.

Floki Inu’s advertising budget comes from a 4% fee imposed on new buyers. The tokens are used for “onboarding influencers” and to “further develop and grow the Floki ecosystem.” 

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Featured image via Pixabay



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