Floki Inu (FLOKI) and Stacks (STX) are planning to attract new investors with the names of big companies such as DWF Labs and Binance.
Floki Inu and DWF Labs partnership
Popular meme coin Floki Inu has announced a strategic partnership with market maker DWF Labs. In this context, DWF Labs has committed to purchase 5 million FLOKI.
According to the official statement, DWF Labs invested $5 million by purchasing tokens from the Floki Treasury. Leveraging its extensive network and resources, the investment firm will work with the Floki team to accelerate the adoption of FLOKI and its ecosystem.
Crypto news publication CoinGape just published a solid article highlighting the significance of #Floki's partnership with @DwfLabs!
Check it out here: https://t.co/nz8zfcMT3z pic.twitter.com/wEi40BhmzF
— FLOKI (@RealFlokiInu) May 26, 2023
The partnership with DWF Labs represents an important milestone for the Floki project. The team behind the investment worth approximately $305 million used the following statements while talking about the latest development:
This partnership will be particularly invaluable in accelerating the adoption of Floki in corporate circles.
Floki expects growth in corporate demand
Meanwhile, DWF Labs shared their firm belief in Floki’s potential. For this reason, he also expressed great interest in purchasing additional meme tokens in the future. According to DWF’s website, the firm describes itself as a global digital asset market maker and multi-stage web3 investment firm with offices mainly in Singapore, Switzerland, British Virgin Islands, United Arab Emirates, South Korea and Hong Kong.
FLOKI price took action
The Floki team is confident that the latest strategic partnership will increase corporate demand for FLOKI and improve the ecosystem. Following this crypto news, the price of Floki skyrocketed in double digits earlier this morning compared to the 2.90% drop recorded last week. At the time of writing, it is trading in the region of $0.00003061, where it has returned its earnings.
Stacks (STX) is on the rise with Binance news
Binance, the world’s largest cryptocurrency exchange, supports the network upgrade of Stacks (STX), which aims to bring smart contracts to the Bitcoin network. According to the announcement released today, the dates are as follows:
- The Stacks (STX) network upgrade and hard fork will occur at approximately 01:00 on May 27. STX deposits and withdrawals will be suspended from approximately 00:00.
- STX trading will not be affected during network upgrade and hard fork.
- Binance will fulfill all relevant technical requirements for all users holding STX in their Binance account.
STX price reacted positively to Binance news
Stacks (STX) price moved up 4% after the Binance announcement. Its price climbed to $0.606309 after an intraday low of $0.581538. He has now returned some of his earnings, like Floki.
As we reported as Kriptokoin.com, Stacks (STX) became the focus of attention of institutional investors in February.
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