FLOW Price Analysis August 2022
FLOW is a token of platform Flow. Its current price is around $2.52 by the time of writing, with a low of $1.17, and has a market cap of 2.6 billion dollars. FLOW is up by 44% just after the news Instagram’s initiative to create Non-Fungible Tokens on the Flow blockchain has attracted much attention worldwide. More than 100 countries will now be able to showcase their verified Flow NFTs on Instagram with Flow blockchain.
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What is Flow?
The Flow cryptocurrency is the main currency of the Flow blockchain. Developers can use it in their apps to accept payments, earn money, or receive transaction rewards. Flow is a high-performance blockchain specifically for creating NFTs and other crypto games. Unlike blockchains like Ethereum, Flow is built to be ideal for large-scale environments with potentially billions of people involved.
What is FLOW?
FLOW is the coin of the Flow platform, which is around $2.52 by the time of writing, with a low of $1.17. It reached a high of $28.79, and its current ranking is #29 according to CoinMarketCap, with a market cap of 2.6 billion dollars. Flow is a cryptocurrency that fuels the Flow blockchain and smart contract platform. The FLOW token can be used to pay for transaction fees, vote on important issues, or buy a stake in the network by validators.
FLOW Coin Market Analysis
FLOW has a total supply of 1,390,757,889 coins worth around $2.52 with a market volume of 674 million dollars, whereas the market capitalization is 2.6 billion dollars at writing.
FLOW Price Prediction
Based on our forecast system, Flow doesn’t seem like a good investment in the long term. Though Flow experienced its peak point, there’s no sign of making a profit; however, not too long ago, the announcement of Instagram adding Flow blockchain NFTs changed its direction – which means it can be useful for short-term investments.
On the 1D timeframe, the price action of $FLOW/USDT has broken the ascending channel. We can see a good move upwards. Currently, it is trying to break its major horizontal resistance zone. We have to wait for a successful breakout.
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Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we discussed might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.