Kraken, a San Francisco based cryptocurrency exchange, said clients have staked nearly $725 million worth of the digital token FLOW as a growing number of investors look to capitalize on increasing demand for non-fungible tokens (NFTs). It did not detail how many of its clients are involved.
The surge in staking activity – similar to depositing money in an interest-bearing account – reflects the broader NFT frenzy, fueling soaring prices for other tokens such as Enjin and Rarible, which raised $1.7 million in seed funds from Coinbase Ventures in February.
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March 13, 2021 at 12:01AM
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Kraken Clients Stake $725M of FLOW Tokens, Buying Into NFT Frenzy - CoinDesk - CoinDesk
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