The cryptocurrency $FOLKS has surged to the third position in 24-hour contract trading volume, reaching $2.35 billion, trailing only Bitcoin and Ethereum. Despite several fluctuations, the open interest remains at $29.83 million. On Binance, 65% of smart money traders, totaling 191 accounts, are long on $FOLKS with a combined position of $6.18 million at an average entry price of $21.88. Meanwhile, 35% of traders are short, holding $2.57 million at an average entry price of $15.64. Folks Finance, a DeFi project established in 2021, has seen significant growth in its total value locked (TVL), now at $92.14 million, largely due to its cross-chain lending protocol and a points program initiated in late 2024. The ongoing Season 2 of this program allows users to earn points through lending and borrowing. Additionally, staking activities offer a 30% APY over 30 days, reducing the circulating supply of tokens. However, due to price volatility, investors are advised to conduct thorough research before participating.