Flow Monitoring: Why This Price FLOW May Not Attract Short-Term Traders

Christian Encila

2 years ago

3 mins read

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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.

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.

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

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.