Could Flow be the next buzzing crypto token?
- Flow’s price prediction for a possible bearish scenario will be $ 0.72 in 2023.
- The trading volume of Flow is $ 105,999,490.
- The bullish price prediction for Flow for 2023 is between $ 1.069 to $ 3.294
The crypto industry is ever-adapting. Every other day we come across innovations that continue to change the added value to the community. Besides, the onset of Metaverse has been like a breath of fresh air to new-age enthusiasts. The possibilities to earn while almost everybody has loved playing games.
So while the concepts of Metaverse are still undefined at large, projects like Flow continue to introduce fresh concepts in the crypto industry. Interestingly, the project has been a hit among tech enthusiasts and created a buzz.
But is the token worth the investment? What would be its long-term investment impact on the investors? Let’s find out as we explore the Flow Blockchain’s long-term price projections and different aspects of the project in our Flow Price Prediction blog.
About Flow Blockchain: An Overview
Flow Blockchain: The Concept
Flow or FLOW was launched in 2019 by Dapper Labs and is a native cryptocurrency that has risen from the Flow blockchain. The dapper Labs is renowned for creating token networks such as NBA TopShot and Cyptokitties, which are known worldwide for their respective crypto experience.
It is a layer 1 user-friendly blockchain token transacted peer-to-peer (P2P). The token uses proof-of-stakes (PoS) protocol-based consensus to protect the blockchain. The token network consists of four particular nodes, namely:
- Consensus
- Execution
- Verifier
- Collector
Interestingly, the project was originally designed for gaming purposes. However, the platform has also expanded to other venues since its launch in 2020. Today, Flow is an immersive payment gateway designed to process transactions fast and cheaply. The platform views itself as a direct competitor to Ethereum and other Blockchain ventures that support similar transactions.
The FLOW token sits at the base of all transactions over the Blockchain. It serves as a token of governance within the flow network and existing ecosystem. Users also pay FLOW to create DApps and get access to its services. Moreover, Flow holds the digital infrastructure of the network, and flow token provides optimum energy to the network.
So now that we have an idea of the network, let’s look at its performance over the years.
FLOW Performance Over The Years: Quick Recap For 2021-22
Thanks to the unique concept that it introduces, the Flow Blockchain project was a hit right from the time of its listing on 31st January 2021. The token was initially listed on an exchange in the $9 range. Now, since the token quickly gained popularity, we witnessed a similar price journey for the same.
The token boosted by almost x4 within a month, ending at its all-time high of $37.45 on 14th March 2021. After that, however, the platform could not push its price beyond the resistance range and fell by $5 in the next few days. Following this, there was another retest from the FLOW token around the $25 range.
The recent push from the support line and the onset of a bullish market helped FLOW reach its all-time high price range of $38.57 on 6th April 2021. Following this, the token maintained its range for the next few days; however, it could not break through the strong resistance zone around the region. As a result, it resulted in a strong pushback and the token fell to the $26 range by the end of the month.
Enter May, and FLOW was able to enter a recovery mode, pushing its price range to $33.24 in the first week itself. However, several fluctuations in the crypto market resulted in a heavy fall for the token as it bombed down to the $7 range by the first week of June.
Interestingly, even after losing its value three-fold, the token recovered quickly. As a result, FLOW entered a bullish swing in the next few weeks and entered the $27 range by August 2021. However, this was the last recorded all-time high for the FLOW token, as it has since been in a bearish phase since the market began preparing for the incoming cold winter by this month.
Fast forward to 2022, and FLOW trickled down to $8.75 around the first week of January. However, this was just the start of the harsh crypto winter for the next few months. The token was almost half its value by the first week of April and halved to $2 by November 2022.
Sadly, there was not much from the token during the last month itself, as FLOW registered the end of 2022 at its lowest-ever rate of $0.654.
Unique Fundamentals Of The FLOW Token
Flow is a unique Blockchain project that focuses on streamlining transactions and revamping its pace of operations. Interestingly, the project and its token aren’t limited to transactions; they are designed to serve other purposes.
Continue reading this section as we explore the fundamentals of investing in FLOW tokens.
Access To A Booming Ecosystem
Flow is known to be the only blockchain that creates a user-inference improvement in the protocol layer while being a blockchain designed from initial mainstream adoption. As a result, many renowned developers and global brands are now building Flow to enable a new experience with its content facilities.
Furthermore, Flow has a rich system that comprises various development studios, entertainment brands, and some well-known venture-backed startups. The ecosystem partners include some global IP brands such as NBA, UFC, Warner Music, and Ubisoft and game developers such as Sumo Digital, Animoca Brands, and nWay.
Moreover, many leaders in the crypto industry, such as Binance and Circle, with various other renowned projects of the next generation, including Open Sea, are in alliance with the Flow Ecosystem making it a big thing in the coming years.
Resource Oriented Programming
Flow prevents the developers from having smart contracts written in Cadence on the platform. Instead, these smart developer contracts are made with easier understanding and secure programming language to benefit the developer’s assets.
Additionally, the design of the Flow ecosystem is unique right from its existence. It allows the network to scale and serve billions of participants to use the platform without reducing or sharding the decentralization of consensual consensus.
Multi-Role Architecture
The pipelines of Flow work as a blockchain miner and validator in different roles. All the roles require staking which reduces staking efforts making them redundant. The nodes and their relevance are as follows:
- Execution Nodes: Nodes that operate the computation related to each transaction.
- Consensus Nodes: Nodes that identify the presence of an order of transactions on a particular blockchain
- Collection Nodes: Nodes that enhance the flow network connectivity with data available on the application.
- Verification Nodes: Nodes that keep a check on execution nodes.
Each node is designed in a single node of any role that can trigger a recovery range from invalid data. The blockchain can identify and rectify the dishonest collection of stakes through the nodes.
Moreover, verification and consensus nodes together form the strong formulation of the security system of the Flow Ecosystem. Both nodes leverage incentives that are crypto-economic to hold the network accountable. In addition, these nodes identify and optimize decentralization and network security, allowing increased participation with graded hardware on home internet connections.
Collection and Execution nodes have a deterministic role that is less vulnerable to attack. The operational work of both nodes is verified and held accountable by different node types. In addition, these nodes securely optimize scalability, which allows the network to work and scale simultaneously.
SPoCKs- Specialized Proofs of Confidential Knowledge
Flow’s team developed a cryptographic technique known as Specialized Proofs of Confidential Knowledge. It allows any number of individuals to prove to a third-party observer that each has access to the same given confidential knowledge.
The proofs are moreover non-interactive and they do not reveal confidential knowledge. Each provers SPoCK is specialized to them and would not be shared with anyone else or copied and forged to any other prover.
This system makes the Flow network even more secure for users to transact and stroll on the platform without hesitation about their personal information getting out. SPoCK is the new technology that gives Flow a significant upper hand amongst other market players in the cryptocurrency blockchain.
Low Monetary Inflation
Flow as a blockchain is designed for decentralized communities that run computer hardware that supports the activity and needed value of assets on an application. Moreover, monetary inflation in all economies has a bare inflation cost where the new supply of token blockchain acts as a tax on holdings to the token holders.
Flow has a cap on monetary inflation, meaning that the inflation on the network would decrease as the network fees increase. Moreover, while the network is in its steady operation mode, the Flow ecosystem ensures a payout to node operators. It is only issued to new tokens to make up the difference in the transaction fees and guaranteed payments.
Transaction Processing of Flow
As Flow is a decentralized network, it charges its users or the apps the users use for its services. It charges on a per-action basis. There are two types of fees on the network, which are as follows:
- Computation Fees: Fees for complex uses which need computation beyond the balance updation.
- Processing Fees: Fees for a transaction submitted and included in a block.
The fees on the network start at 0.001 FLOW or 1mF (Milli FLOW).
Diverse Use-Cases
Developers can directly build Flow into their application for accepting peer-to-peer payments. Moreover, developers can charge for services and enable consumers to earn various rewards for the created value. Flow tokens can be transferred, transacted, and held by users in peer-to-peer working.
The token offers diverse use cases by enabling its token holders to earn rewards by staking the FLOW token as a security deposit. Holders can do it by securing the token through validator nodes or by delegating the stake to professional operators who can deposit it on their behalf.
Validator nodes also receive stake rewards and transaction fees in exchange for giving computation, security, and services to the Flow Network Users.
Flow Blockchain (FLOW) – BG’s Token Analysis
Being one of the latest entrants into the transaction processing industry, Flow Blockchain has come a long way in its journey. Besides, considering that the token has been only a part of the industry since 2021, there’s not much data available to determine the future of its operations.
However, looking at its Flow of operations, FLOW kicked off its career in a bullish phase, multiplying its worth by 4x in months. Sadly, the token also depreciated at a similar speed. While some of it has to do with the faults present over its Blockchain network, a significant reason behind its bearish phase could be the harsh winter of crypto in 2022.
Interestingly, there’s still hope for the token, and our analysts at Blockchain Gossip are mostly optimistic about the future boom of the token. As analyzed in the image above, FLOW has two resistance levels, mainly around $1.2 and $1.4. However, looking at its recent uptrend, the token might soon be able to break its first resistance level.
If it does so, FLOW might enter a new support zone and continue pushing its price over the next few months. Overall, it is a good entry point for investors who have been waiting to take an entry into the project. However, don’t expect it to boom soon; it might take some time before it reaches its prior all-time high.
Flow Blockchain (FLOW) Price Prediction – 2023-27
Various factors are considered while forecasting prices, including price variations, similar coins, market cycles, and volume changes. Moreover, Flow had an eventful journey in 2021, and according to analysis, the highest possible token price by March 2023 would be $ 8.66.
Let’s find out the long-term flow price prediction from the year 2023-27:
Flow price prediction 2023
According to our FLOW analysis, the token will be able to hit a range between $ 6.20 to $ 9.35 in 2023. However, if the token fails to enter a bullish swing, it might average around $7.77. Overall, the token would have a potential investment return of 43%.
Flow Price Prediction 2024
2024 could be a great breakthrough for the FLOW token. This could be the year we witness FLOW recovering most of its lost value. Keeping the bearish factors in mind, we expect FLOW to hit the $15 range. Or it also averages around the $12 range.
Flow Price Prediction 2025
According to analysis, the price prediction of Flow in the year 2025 would range between $18 to $20 with an average token price of $ 12.14. Therefore, almost all tokens of Flow would be Bullish based on the current levels. However, if the price shows a reversal of the trend, then you can initiate buying.
Flow Price Prediction 2026
2026 could be a crucial year for the growth of FLOW Blockchain. Considering that the token has already acquired a significant recovery, FLOW could enter a bearish phase for this year. According to our analysis, the price prediction of Flow in 2026 would range between $12-18, with an average token price of $ 14.96.
Flow Price Prediction 2027
2027 could be a year of change for the FLOW token. However, considering that the platform might have acquired a significant user base by this year, our price prediction suggests that the token could reach the $25 range.
Note: The price range shown is only what our experts expect. The numbers in the forecasts are based on ongoing market trends and recent market moves. Therefore, before investing in the token, ensure you have researched it, understand its principles, and know where it is headed.
Flow Coin’s Last Week Performance
Flow token has been primarily positive since its entry in 2023. As evident from the graph below, the token is making a bounce back from its initial stages. Looking at its performance from the past week, it’s evident that FLOW has entered a bullish swing, propelling above the $1 range.
However, it’s too early to determine the token’s success for the coming weeks. Keeping its price movement in mind; this might be a year of recovery for the token.
Should You Consider Investing In Toncoin?
Although Flow has given a promising start to its users and developers. It is evident to monitor that the market is filled with opportunities in the crypto sphere and the changes are sudden.
It is always advisable to refer to the current investment analytics of a token before investing in it. However, with its novel four-node approach and focus on digitized assets, Flow is set on becoming a successful NFT that would take the Metaverse by storm.
