FLOW Coin Price Up 40% In 20 Days: Is It the Next Crypto Gem

The crypto landscape has been notably bullish since July 2024. This exhibited resonance with a bullish spark in most crypto assets with the godfather (BTC). FLOW was also one of those cryptocurrencies.

Supported by underlying fundamentals, rising community interest, and other favorable factors, it has a 70th seat in the top 100 global cryptos.

It showed a brief uptrend of nearly 40% rise in the past 20 days, where its market cap recovered from $715 million to $968.89 Million (as of press).

As of the latest data, Flow has traded at $0.6405, which marked a 1-day increase of 6.04% and a humongous 24-hour volume surge of 370%. It amounted to $151.428 Million.

Based on a 24-hour volume-to-market cap ratio of 15.70%, the liquidity exhibited plenty of liquid in the asset. That made it a hassle-free option for investors and traders (DYOR).

What Does FLOW’s Tokenomics Signify?

According to the latest data from CoinMarketCap, the token circulation has met the total supply. The supply counted at 1.511 Billion FLOW that rotated among people’s hands at press time. From the price, its fully diluted value stood at $956.49 Million.

Based on these stats, the website CertiK Skynet signified that the top 10 holders of FLOW held nearly 25.64% of the circulation.

Holders Analysis & Vesting Schedule | Source: Chainbroker & CertikSkynet

Moreover, as per the Chain Broker platform, the vesting graph showed that advancement in the supply pump in the market has ended by April 2024.

Since all of the supply happens to be unlocked, most of the crowd could get to see FLOW optimistically.

How Does FLOW’s Fundamental Look?

The Chain Broker website showcased that the FLOW had 14 significant backers at the time of writing. The leading ones included a16z, BlockTower Capital, Distributed Global, A.Capital Ventures, and a few others.

Likewise, it has the ‘A’ tier security with a score of 84.78, which exhibits a tough and secure network. CertiK Skynet has produced this security score based on its real-time evaluation using the on-chain and off-chain data.

After evaluating the FLOW based on backers’ quality, security measures, and value generation, it received a 6.09 out of 10.

Security Score & Followers on X | Source: Chainbroker & Certik Skynet

Beyond this, the FLOW project’s involvement in its development activity, social community, and online presence scored 7.74 out of 10. It also had some renowned X followers, like @sambankman, @ChrisDixon, @ChrisBurniske, and others.

Similarly, it has a healthy market and financial health, with good governance in the FLOW. Based on the CertiK Skynets data, the Twitter monitored data showed that Twitter (X) activity appears highly active.

Twitter Monitoring (X) | Source: Certik Skynet

The 24-hour Twitter followers witnessed a surge of 55 followers, which marked 200.73K followers on X. The X account age exceeded four years, and the total tweets signified nearly 10K on FLOW.

What Does FLOW Price Show Over 1-D Chart?

The FLOW Chart showed an impressive surge of greater than 300% from October 2023 to mid-March 2024, where it flew from $0.417 to $1.693. That was a historical surge on the chart.

Despite the exemplary gains, due to 3 months of profit booking, FLOW deterioration took the price back.

Structure-wise, the plunge has formed a wedge, and the price has moved past the upper border this week. However, the obstacle of dynamic resistance of the 50-day EMA loomed, interrupting its further ascent.

The resistance ahead was $0.820 and $1.00 at press time, based on a possible bullish thrust. If the ascent gets neutralized by bears and shifts beneath the pattern, bullish sentiment might also take a halt or lose its significance.

Further dominance by bears could even lead to the nearest supports at $0.60 and $0.40.

Per the indicators, the sentiment was depicted as a mix, as bearish EMAs were present alongside bullish RSI and MACD.

Flow crypto Surged 40% in 20 days

Flow crypto surged 40% in 20 days, backed by strong fundamentals and investor support. The market cap recovered to $968M, with a price of $0.64, with high trading volume. There is potential for further growth, but it won’t be without a bit of risk of loss.

Source