Kraken Purchasers Stake $725M of FLOW Tokens, Shopping for Into NFT Frenzy

Kraken, a San Francisco primarily based cryptocurrency trade, stated purchasers have staked almost $725 million value of the digital token FLOW as a rising variety of buyers look to capitalize on rising demand for non-fungible tokens (NFTs). It didn’t element what number of of its purchasers are concerned.

The surge in staking exercise – just like depositing cash in an interest-bearing account – displays the broader NFT frenzy, fueling hovering costs for different tokens reminiscent of Enjin and Rarible, which raised $1.7 million in seed funds from Coinbase Ventures in February.

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