The token rose by 12% on Tuesday as flow increased for the second consecutive session. After prices dropped to a one month low last weekend, the rebound is evident. Cosmos also saw a rebound after it reached a five-day peak. Global crypto market cap has risen 0.68% to the time of writing.
The token rose as high as 12% today thanks to Flow (FLOW). FLOW dropped to its lowest point in over a month on Sunday as bearish pressure flooded cryptocurrency markets.
Prices have since rebounded from yesterday’s low at $1.77 and reached a peak of $2.08 earlier today. Today’s surge saw FLOW/USD nearly collide with $2.10 as a key resistance level, which created some uncertainty in price movements.
FLOW traded at $1.94 after its previous peak. This is because bulls have liquidated their positions and sent prices lower. This could also be due to the fact that the 14-day relative strengths index (RSI), hit a resistance level at the 40.00 mark.
The native currency of the Flow network is FLOW token (“FLOW”) and it’s the foundation for a new, inclusive and borderless digital economy. FLOW token, which is the digital infrastructure of Flow, is the fuel that drives the network. FLOW token is the currency that enables the network to function and all of its applications. FLOW can be used as both a payment option and as a long-term reserve currency for the whole Flow economy. Validators, developers, users, and others can use the token to join the FLOW network and receive rewards. It can also be used to pay fees or participate in future protocol governance.
Flow is a Blockchain designed for mainstream adoption. It is the only blockchain to incorporate usability improvements in the protocol layer. Flow is being used by top developers and major brands around the globe to create new experiences using top-tier content.
Flow’s rich ecosystem includes top entertainment brands, venture-backed startups, and development studios. Flow partners include global IP brands such as Warner Music, Ubisoft and NBA, as well as leading game developers like Animoca Brands and Sumo Digital. There are also leaders in crypto such as Circle and Binance.