FLOKI price surged by 10% on Sunday before slightly pulling back before the end of the day. The price however started Monday with a 2% surge.
FLOKI is trending as traders and investors bet on it amid a China-focused push for its Valhalla metaverse game. Along with the price, the FLOKI’s trading volume also jumped to over $60 million up from last week’s average of $25 million.
Floki game ads feature some Chinese sporting tournaments
Floki recently announced that it was targeting China in its latest push to attract more players for its Valhalla game. As a result, the game’s technical documents and content are available in Chinese and are specifically targeted towards the Chinese gaming market.
The China push has attracted a lot of attention ahead of the crypto laws in Hong Kong, which has pushed some of the Asia-focused tokens like Conflux (CFX) up in the past few weeks after speculations that wealthy Chinese speculators could soon splash their money into the crypto markets.
Starting June 1, 2023, Hong Kong will allow citizens to invest in some cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), on regulated crypto exchanges in the country as reported here earlier. The traders will, however, not be allowed to hold any stablecoins.
The current spike in FLOKI prices comes as ads for the Floki game featured some Chinese sporting tournaments attracting speculators who believe the move will likely attract new traders from China. As a matter of fact, Floki developers in a tweet said that they have seen an influx of Chinese-based community members on their social media groups.
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