Alibaba’s AliExpress Embraces Floki Payment Option

Internet retailer giant, AliExpress, a branch of Alibaba, has extended its payment options to embrace the meme-inspired cryptocurrency, Floki (FLOKI). This memecoin competes directly with established names such as Dogecoin (DOGE) and Shiba Inu (SHIB).

Floki Finds a Home on AliExpress

The development team behind Floki recently unveiled this exciting update. The crypto-enthusiasts and shoppers worldwide can now use this dog-inspired digital currency to acquire goods from AliExpress. As a global leader in online retail, this move signifies a significant stride in the acceptance of Floki in mainstream e-commerce.

Shopping.io

Floki’s integration into AliExpress became possible through Shopping.io. This crypto-centric shopping protocol enables consumers to use digital currencies when buying from prominent retail platforms. The list includes giants such as Amazon, Walmart, Etsy, and eBay.

The incorporation of Floki into AliExpress, surprisingly, did not affect its market value much. Althought there was a 5% jump seen shortly after the news, at the time of writing those gains were undone and the memecoin is now trading at $0.00003178, according to CoinMarketCap data.

Data retrieved in April from IntoTheBlock, a reputable crypto analytics platform, indicated that a vast majority of Floki’s investors were struggling. Only 19% of the investors were reaping profits, 12% were at a break-even point, while an alarming 70% were nursing unrealized losses.

A more recent analysis by the same market intelligence agency presents an even bleaker picture. A shocking 78% of Floki owners stand to lose if they liquidate their assets now. Only 14% of investors are profitable, and a measly 9% are at the break-even stage. The study also highlighted that 81% of Shiba Inu holders are in a similar predicament.