Flow crypto is a coin that is currently one of the assets with a market cap in the top 100 Coinmarketcap. The coin is at #52 with a price at the time of writing of $7.31 with a market cap of over 2 billion USD.
Flow coin price reached an all-time high in April 2021 at a $46.16 price level. But currently, the price of flow coin is much lower at around $7. Why flow coin is dropping?
Flow crypto has had an ambitious history, after its launch it has managed to get a response and create a market cap of over 1 billion. Learn more about Flow crypto.
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What is Flow crypto?
Flow is a very fast and scalable blockchain. It becomes a blockchain-based decentralized application ecosystem that offers scaling solutions for interactive experiences, decentralized application projects (dApps), and games on the blockchain.
Flow is the only layer one blockchain originally created by a team experienced in building the once-popular consumer blockchain applications Cryptokitties, Dapper Wallet, NBA Top Shot.
The Flow Network strives to be a blockchain provider with a scalable environment and architecture for faster transactions without bottlenecks and to create an environment for Non-Fungible Tokens (NFT), DApps, and games.
Flow coins can be traded like any other crypto asset, but NFT has a different value, so it is a digital collection. Flow networks offer several advantages, including:
- Use upgradeable smart contracts so you can easily fix bugs.
- Final transaction speed in just seconds.
- Use Cadence, for the easiest process of building DApps and NFTs with the relatively easy-to-learn Flow programming language.
Flow crypto founder
The founder of Flow crypto is Dapper Labs. Founder Flow blockchain is Dieter Shirley who served CTO Dapper Labs. It is the original creator behind the Flow blockchain who previously also developed the first NFT game Cryptokitties. He is also the creator behind Dapper, and NBA Top Shot.
Dapper Labs was founded in 2018 focusing on blockchain technology. Dapper Labs also partners with the NBA and Nbpa, Warner Music Group, and Ufc. Notable investors backing Dapper Labs are Andreessen Horowitz, Union Square Ventures, Venrock, Google Ventures, Samsung, and the founders of Dreamworks, Reddit, Coinbase, Zynga, and Angellist.
Dapper labs built the Flow blockchain specifically aimed at creating a compliant collectible NFT environment. Along with the Ethereum blockchain, more and more Dapps run on the blockchain, causing the network to go down due to increased Cryptokitties users.
When Flow crypto launched
Flow blockchain was launched in 2020, which previously started a public sale on Coinlist and successfully raised $18 million, at an auction that attracted around 13,000 participants.
Since then the flow community has grown and gained partners such as NBA Top Shot, UFC, NFL, Samsung, Google, MotoGP, and Ubisoft, and will reach its peak in 2021.
How does Flow crypto works?
In its efforts to increase scalability, the Flow blockchain uses PoS consensus. The PoS protocol allows achieving increased scalability with no sharding.
Using a multi-role, multi-node architecture, the Flow blockchain divides tasks on each node according to its technical capabilities. Flow distributes tasks on the network across nodes according to node capabilities.
Flow divides the validation process into four roles, distributing different tasks to different types of nodes. Collection Nodes, Execution Nodes, Consensus Nodes, and Verification Nodes. It aims for efficiency.
- Collection Nodes aims to improve connectivity and availability for Dapps.
- Consensus Nodes are useful for deciding the order of transactions.
- Execution Nodes are useful for the computations associated with each transaction.
- Verification Node serves to re-check the work done by the Execution Node.
How many flow coins
The FLOW token is becoming the premier digital currency for payments and rewards. Developers can also use the Flow network to create their own tokens that can be used within their applications and can also be traded as NFTs.
At the moment the number of FLOW tokens in circulation, referring to Coinmarketcap is 318.082,398.00 FLOW. There is no information on the maximum supply, for the FLOW token, but at the time of writing the total supply is 1,378,211,739.
Flow limits monetary inflation in order to avoid a fall in the value of the FLOW token. The new token is used to cover the difference between transaction fees and guaranteed payments to validators. The flow will reduce the inflation rate to 0% as transaction costs increase.
Flow coin distribution
The blockchain flows through three phases, in the first phase called Beta Mainnet Live, it still works without tokens, and uses other cryptocurrencies or credit cards. In the second phase, Flow creates 1.25 billion FLOW tokens, in this phase, the distributed FLOW will remain fully locked for a year. In the third phase, reward staking begins,
Who uses flow coin?
The FLOW token acts as the fuel that drives the network. It functions to run all applications on the network to work.
FLOW tokens are used for payments as well as long-term reserve assets for all Flow economies. The tokens are used by validators, developers, and users to participate in the FLOW network and earn imbalances.
FLOW holders can also use it to participate in future protocol governance.
How does flow crypto make money?
Flow blockchain is built as an ideal platform for NFT collectibles and Dapps, developers can build applications online using available tools and FLOW tokens as payment transactions.
Flow blockchain uses validator nodes to lock security deposits in FLOW tokens to run the blockchain.
This is a staking process that is useful for preventing attacks eg someone impersonating multiple individuals to gain undue influence over the network.
FLOW distributes a fixed share of the total supply of FLOW tokens annually as a reward to validator nodes. Prizes created new issuance and transaction fees. The total reward with regard to network security is planned to be set at 3.75% of the total token supply per year.
Why is flow crypto going down?
The FLOW token after launch experienced a large increase in value, the all-time high price was reached on April 5, 2021, at $46.16. But after that, the price then slipped to $25 a month later. Even though it tried to rise again, it was only able to last for a few days. Prices fell again, to around $7.
The drops in the FLOW value were mostly influenced by the selling action because the price was already too high, which worried investors would fall. And gradually the price continued to fall as a pump and dump action.
Massive declines did not only occur in FLOW, other crypto-assets also faced the same conditions. But the average price also drops even though in different percentages.
Overall, global conditions are mainly from the Fed’s policy which will tighten the flow of the dollar to prevent inflation.
Flow coin all-time high
The FLOW token all-time high reached on April 5, 2022, at a $46.16 level price. While the all-time low occurred on January 24, 2022, at a $4.34 level price.
What is the future of flow crypto?
FLOW blockchain is a young cryptocurrency asset, launched in 2020, reaching the highest price in 2021, and the lowest drops in January 2022. The dynamics of the cryptocurrency market are still often influenced by pump and dump.
FLOW token is still possible to repeat its value again. Keeping up with the latest news about FLOW through its community on Twitter and Discord will be useful for analyzing the performance of the development team.
Especially in 2022, it is predicted that the adoption of NFT will increase in the community, because of the influence of the success of NFT artists who have succeeded in selling high-value artworks.
Is flow coin a good investment?
Like most other crypto assets, FLOW is a risky asset, its value may remain low because basically, the price of FLOW tokens fluctuates due to the demand and supply of tokens.
But there are those who still believe that FLOW is a good investment. Because at this time the FLOW price is already undervalued, which allows smart investors to purchase tokens at the lowest price and then sell them when the price is high.
On the other hand, Wallet Investors predict that FLOW is a bad investment in the next year and is predicted to fall to $0.829.
Where to purchase flow coin?
FLOW is currently available on several global exchanges.
Binance
Binance, the largest exchange, provides several advantages through low transaction fees using BNB. On this exchange users can find FLOW on the pairs USDT, BTC, BNB, and BUSD.
Kraken
FLOW trading, as well as staking, can be done on Kraken, where FLOW can be traded with USD, EUR, GBP, BTC, and ETH. The exchange has published FLOW availability for trading and staking via the official blog in October 2021.
Crypto.com
Crypto.com which is the largest cryptocurrency marketplace has listed FLOW on October 20, 2021, where users can buy FLOW with USD, EUR, GBP, and more than 20 fiat currencies.
Uphold
Uphold the leading exchange in the United States, also provides FLOW tokens on their platform. To get started the user must register on Uphold.com, verify an email address, and be able to start purchasing FLOW.
WazirX
For Indians, WazirX is the leading exchange in the country. Users can buy FLOW on this exchange.
Flow coin price prediction
The chances of FLOW token going up are still wide open at this time. Where the price has reached an all-time low in January last at around $4, currently the price is slowly rising, from $7 to $8. This is the ideal low price by comparing the all-time high.
The following is a FLOW prediction from several forecasting sites.
CryptonewsZ predicts a token FLOW in 2023 at around $6.2, the current price has even risen above $7. 2024 FLOW average price is $7.5. While 2025 prices FLOW $7.8, and 2026 at $9.
PricePrediction, predicts FLOW token is a good asset that is rising gradually. from 2022 at $10.08, rising continuously until 2031 forecasted average FLOW token price is $308.50
The News Crypto predicts FLOW token will fall at $13.11 in 2022.
Final thought
It seems that only Wallet Investors predict FLOW is a bad token. While others provide support for the FLOW coin.
Note: this article is for informational purposes only and does not constitute investment advice, Forex and CFDs are risky trades. Each investor is responsible for their investment.
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