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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Flow Rolls Out Blockchain Tools As Social Dominance, Coin Price Seen Rising

Christian Encila
Christian Encila
2 years ago
3 mins read
Flow

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Anyone who want their protocol to be widely used in the realms of DeFi and dApps will need robust development tools. And that’s exactly what L1 blockchain Flow accomplished not long ago, as reported on their company’s official Twitter page.

In a blog post from October 18, developer community DZone provided a comprehensive explanation of the tools.

Their recent show of strength can be directly linked to this change.

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? @DZoneInc share the essential tools for building on Flow and our smart contract language, Cadence!

? CLIs, IDE extensions, client libraries, local networks and more
? How Flow tools compare to Ethereum tools

Learn more ? https://t.co/OFmIfhREiC pic.twitter.com/GPVXLq11nv

— Flow (@flow_blockchain) October 19, 2022

This Metric May Have Some Issues

Data collected recently indicates that there has been an upswing in the number of blocks developed for Flow on the chain. To see people making use of the resources made available to them and creating dApps on top of Flow is a promising indication.

Investors and traders may take this as a positive sign.

As of this writing, however, the value of their native token has plummeted by a stunning 17.49% over a period of 16 days.

Weekly, biweekly, and monthly reductions in value have also been recorded by Coingecko.

Back in October 17 and 18, FLOW tried to rally but was rejected at $1.580. The CMF for FLOW, however, indicates that buyers are in command.

Given the latest on-chain advancements of Flow, investors and traders may be in for a longer route.

Will Flow Continue Downstream Or Ascend?

Although Chaikin’s money flow indicator favors bulls, negative RSI and momentum readings nullify this advantage.

We anticipate FLOW to decline below the 78.60 percent Fibonacci retracement level, now located at $1.345, given that the token is already subject to intense selling pressure.

Previous price action was consistent with a flag and pole bearish formation, which will impede any near-term gains. At present, the token is testing the lower half of its trading range, which currently sits at $1,406.

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Tron Development Activity Grows In The Last 7 Days – Except TRX Price

2 years ago

With the token’s present bearish momentum, we can expect it to reach a descent as low as the 100 Fibonacci retracement level ($1.222).

However, similar to what was stated previously, the recent upswing in development activity is a strong indicator that things will remain stable for investors over the long term.

Eventually, demand for FLOW will increase as the network’s blockchain grows and as developers add more and more tools for greater connectivity between the blockchain and decentralized applications (dApps).

In the upcoming weeks, this may serve as a spark for a rally. Meanwhile, Flow investors may also buy the dip to generate a short-term price increase.

FLOW total market cap at $1.45 billion on the daily chart | Featured image from The Market Periodical, Chart: TradingView.com

Disclaimer: The analysis represents the author's personal views and should not be construed as investment advice.
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Christian Encila
Christian Encila

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.

Read more

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.

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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.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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