Flow Monitoring: Why This Price FLOW May Not Attract Short-Term Traders
28 August 2022 - 06:35PM
NEWSBTC
FLOW, a blockchain-powered coin, is back in its element. FLOW price
plunged by 4.00% Network releases MetaplierFlow gave rise to
collaboration with CelerNetwork Coin performance may not attract
short-term traders Even though the network may not currently be
experiencing a strong bull run, it does appear to be focused on
giving consumers who access its decentralized architecture more
options. The native coin of the Flow ecosystem is called FLOW. It
is employed for all payments of protocol-level fees, rewards, and
staking of tokens. In order to attain its goal, the ecosystem
recently released MetaplierFlow, a Decentralized Exchange (DEX),
which now includes a few integrations. The said integration gave
rise to a relationship with the cross-chain platform
CelerNetwork. Related Reading: Cardano Price Trajectory
Signals Negative Bearing, Weekly Chart Mostly In Red Integrations
Didn’t Impact FLOW Price Another initiative aimed at improving the
decentralization of the ecosystem is the recent cooperation. Keep
in mind that developing such systems has been done before. In the
past, FLOW collaborated on a similar goal with a Decentralized
Autonomous Organization (DAO). While there are certain differences,
the most recent development will allow its users to quickly connect
to other cryptocurrencies. The specified assets are USDC, Wrapped
Ethereum [WETH], Wrapped Bitcoin [WBTC], and Wrapped Ethereum. The
additions didn’t appear to worry FLOW, though. According to
CoinMarketCap, FLOW price has nosedived by 4% or trading at $1.82
as of this writing. Related Reading: Shiba Inu Burn Events Spark A
Rally In Altcoin Over The Past Weeks The integrations didn’t cause
its price to rise or fall. The one-month green take, however, was
insufficient to generate enthusiasm for the coin. Investors in FLOW
could benefit from these improvements in certain ways. First,
compared to the period between August 18 and August 22, the
volatility on the four-hour chart against the USDT was remarkably
reduced. The Bollinger Bands revealed this feeling (BB). The
Relative Strength Index (RSI), which measures momentum, was neutral
but had ominous indications at 45.70. However, with the AO value at
-0.048, it was more of a negative sign. Stats Way Off Short-Term
Traders’ Estimates An in-depth analysis of the on-chain portion
reveals that the coin’s performance did not meet expectations,
particularly for short-term traders. The merger sparked a positive
trend in development activity. However, there was hardly any
difference in the whales’ overall supply, which was worth $5
million and more. Investors may wish to maintain their expectations
at a low level because FLOW is nearly 95% away from re-hitting it’s
All-Time High (ATH). Even while the cryptocurrency market has not
quite made a decisive move out of its bear state, all may not be
lost. The earned coin can be used to create, develop, and grow
Dapps as well as to stake, delegate, hold, and vote. For signing
into transactions, use the ecosystem’s client library as a tool.
For the purpose of using FLOW tokens, investors can log in using
their accounts. Holders of Flow have the ability to interact with
the coin’s crypto community, take part in conversations, and cast
votes for Flow governance. BTC total market cap at $384 billion on
the daily chart | Source: TradingView.com Featured image from The
Coin Republic, chart from TradingView.com
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