Valour lists FLOKI ETP in Europe – is reversal on horizon?
Valour has listed a FLOKI ETP on Sweden’s Spotlight Stock Market as FLOKI price continues to consolidate within a descending channel, awaiting a breakout catalyst.
- With this listing, FLOKI becomes the first and only BNB Chain project besides BNB to secure an ETP listing.
- The launch coincides with BNB reaching a new ATH above $1,100, boosting ecosystem sentiment.
- FLOKI price remains in a descending channel, capped near $0.00009.
Valour, the ETP arm of DeFi Technologies, has listed Valour Floki (FLOKI) SEK on Sweden’s Spotlight Stock Market, making FLOKI available to European retail and institutional investors through a regulated exchange-traded product.
The development makes Floki the first and only BNB chain project to secure an ETP listing besides BNB itself. BNB achieved this in October 2019, when 21Shares launched a BNB ETP in Switzerland under the ticker A22GRU.
According to Floki’s post on X, this is a bit fit for the memecoin, especially as it coincides with BNB season. Notably, BNB itself has just hit a new ATH, surpassing $1,100 today. Strong price action in BNB tends to lift the performance of projects built on the BNB Chain — for example, CAKE price broke above a key resistance following BNB’s rally. With FLOKI now available on a regulated ETP, it could be next in line to capitalize on BNB’s bullish momentum.
FLOKI price prediction
Meanwhile, FLOKI price is yet to show signs of following suit with BNB and CAKE. The memecoin continues to trade within a descending channel, marked by lower highs and lower lows since late July. Price action recently bounced from the 0.786 Fib but remains capped by the 20-day SMA around $0.000090.
A breakout above the channel resistance would flip the short-term bias bullish, potentially opening the way for a run toward the $0.00010–$0.00012 zone. Until then, FLOKI’s structure remains bearish, with risk of further downside if $0.000081 fails to hold.
