Indonesian cryptocurrency native altcoin of exchange Tokocrypto Toko Token (TKO), It gained more than 97% at its peak value with its sudden rise following the claim that the company will be acquired by Binance.
However, the price of the coin has dropped from its peak and is currently trading at $0.431, up 46.71% in the last 24 hours. The price of the coin has bounced from around $0.28 from the base value.
No Official Statement From Binance
It’s important to say that there has been no official comment yet from the Indonesian exchange itself or Binance.
The world’s largest cryptocurrency exchange, Binance, is thought to be interested in this Indonesian exchange as it is registered with local regulators.
For example, just a week ago, Binance acquired Japanese crypto exchange Sakura for similar reasons. Also, Binance has an investment in Tokocrypto (TKO) since 2020.
So far, the initial excitement around the TKO coin has subsided and there has been a little over 40% correction. The price of the token is currently at May 2022 levels and has compensated for all the negative movements of the last seven months.
Tokocrypto started operations in September 2018 and became the first entity registered under Indonesia’s Commodity Futures Trading Regulatory Authority (BAPPEBTI) in November of the same year. Tokocrypto’s latest project, TKO, is the first Indonesian cryptocurrency to offer a distinctive hybrid token model.
The token serves various purposes on the Tokocrypto blockchain platform and allows users to participate in crypto exchanges, deposit and savings programs, cross-platform DeFi applications, and NFT marketplaces.
Toko Token was officially launched in April 2021 and has since attracted the attention of both private and corporate users.
*Not investment advice.
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