Crypto trading firm DWF Labs will buy $12 million worth of floki (FLOKI) tokens to support the dog meme coin-turned-utility project's growing ecosystem. This follows a previous commitment to purchase $10 million worth of FLOKI tokens in February, which contributed to a 50% jump in FLOKI prices the following week.
The trading firm has facilitated key exchange listings and partnerships with industry participants, which has helped boost sentiment around the Floki ecosystem. Floki will release the mainnet version of its flagship utility product, the Valhalla metaverse game, later this year, along with other key utility products.
Floki first announced a partnership with DWF Labs in May 2023, purchasing $5 million FLOKI tokens. DWF Labs committed to investing $10 million in Floki's sister project, TokenFi, over two years for AI product development.
FLOKI prices rose by 8% in the past 24 hours, surpassing the 0.4% increase in the CoinDesk 20 Index, reflecting positive market sentiment due to recent investments and developments.
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