In this article, we will analyze the FLOW coin, which is in fifty-second place behind Bitcoin, according to www.coinmarketcap.com data. First, we will discuss the FLOW coin and its projects and make a technical and graphic analysis. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is FLOW Coin?
Flow is a blockchain network designed to enable decentralized applications (dApps) and digital assets to scale without compromising performance or security. Flow has its native cryptocurrency called “FLOW” that is used as a means of payment for transaction fees and also serves as a governance token for decision-making on the network.
“Flow Coin” is not a separate cryptocurrency but it refers to the FLOW token that is used on the Flow blockchain.
What are the projects of FLOW?
NBA Top Shot: A blockchain-based platform that allows users to buy, sell, and trade officially licensed NBA collectibles, such as video highlights and other digital assets.
Dapper Labs: The company behind NBA Top Shot is also building other blockchain-based games and digital collectible platforms, such as CryptoKitties and Dr. Seuss Digital Collectibles.
OpenSea: A decentralized marketplace for buying and selling digital assets that has integrated with the Flow blockchain to allow users to trade NBA Top Shot assets.
Animoca Brands: A leading digital entertainment company that has partnered with Flow to create blockchain-based games and other applications.
UFC: The world’s premier mixed martial arts organization has partnered with Flow to develop a digital platform for fans to collect, trade, and own UFC-branded digital assets.
These are just a few examples of the projects that are leveraging the Flow blockchain’s capabilities to build innovative decentralized applications and digital asset platforms.
FLOW COIN TECHNICAL ANALYSIS
FLOW, which reached its highest value of $ 35.61 in July 2021, has decreased by 97% since that date and is traded at $ 0.949 at the time of writing. According to www.coinmarketcap.com data, FLOW, which has a size of $983,899,124, has had a volume of $ 16,146,000 in the last twenty-four hours.
FLOW Chart Analysis
FLOW, which fell 97% after seeing the highest value of $ 35.61 in July 2021, seems stuck between $ 0.644-$ 1.39 since November 2021. I think that FLOW, which continues the downward trend, must break the downward movement if it is to rise. While we have resistance at $ 1,39 weekly, we need to work with the $ 0.644 support on possible pullbacks.
This article does not contain investment advise or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.