There are many cryptocurrency tokens available to be invested in. Still, few are as unique and worthy as FLOW Coin. This particular coin was purposely invented for a blockchain with some specific purposes.
What is FLOW Coin?
Every blockchain network needs a token as its fuel to operate, and the FLOW token is the one doing the role for the Flow network. FLOW token is the original cryptocurrency of the Flow network that can be used for many things like investments and payments.
The Flow is a blockchain specifically designed to ease the operations of decentralized applications or dApps, Non-Fungible Tokens or NFTs, and even blockchain games. It is possible as the Flow network provides an easily scalable environment.
Moreover, Flow consumes less energy and is a lot greener than other blockchain networks. As we all probably know, a vast amount of electric power is needed to run a decentralized system. But, Flow claims that it needs no more energy than posting on social media to mint an NFT on the Flow blockchain.
For comparison, the two most prominent blockchains, Bitcoin and Ethereum, need 182,120 GWh and 82,190 GWh of energy, respectively. Flow only needs 0.18 GWh of energy to run its blockchain network. Even an eco-friendly blockchain like Polygon needs more energy of 0.79 GWh.
These real-life comparisons can show you more about how green Flow is. If you do a google search, there would be 12 NFTs minted on the blockchain. Then, if you fully charge your smartphone, there would be 500 NFTs minted. Lastly, a whopping 325,000 NFTs would be minted as you watch an hour of a TV show.
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How was Flow Started As a New Blockchain
One of the reasons why the Flow blockchain exists is connected to a blockchain game, CryptoKitties. Developed by Dapper Labs, CryptoKitties was one of the most popular blockchain games on the Ethereum blockchain. This blockchain game also allows players to collect or trade NFTs used for the free game.
Because of its popularity, CryptoKitties kept gaining new players and collectors for its gameplay and valuable NFTs. That heavy traffic of new users made the Ethereum blockchain have some scalability issues. That is why the CTO of Dapper Labs, Dieter Shirley, and the entire company team decided to start the Flow project.
The Flow project was launched in 2020, allowing developers to create and use digital assets with its Proof of Stake or PoS protocol. Even though it is firstly intended to provide a suitable environment for CryptoKitties, this blockchain also supports various blockchain games, dApps, and NFTs.
Is the Value of FLOW Great for an Investment
Flow is valuable because it allows developers to create decentralized applications in its network. As soon as the dApps are ready, they can use the FLOW token to operate the applications or games.
The latest price of FLOW at the time of writing is $1.52, ranked at 33 among other cryptocurrency tokens, which is very low compared to its peak price of $39 on March 4, 2021. The price is also way below FLOW’s average price of $6.9. According to the data from Coin Market Cap, the cost of FLOW has been below its average since April 6, 2022.
In fact, the current price is among the lowest in the history of FLOW’s existence. However, it still has some potential to gain its value back, like in some periods of time in 2021. The price has also never been below $1, with its lowest ever at $1.2 about a month ago on June 18, 2022.
The price of every cryptocurrency is always unpredictable and can be caused by many different factors. Still, if a cryptocurrency is popular and has a tremendous fundamental like FLOW, the price can go through the roof at any time. That means the current price of FLOW is very inexpensive and can potentially be a bargain for future investments.
For other price statistics of FLOW, the current market cap is $1,572,857,116.13, and the fully diluted market cap is more than half a billion dollars more at $2,103,254,417.24. The total supply of FLOW itself is 1,385,626,326 FLOW without any maximum supply data. From that, the latest circulating supply is 1,036,200,000 FLOW.
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Things That You Can Do with FLOW
The Flow blockchain allows users to develop their own dApps or create many kinds of collectible NFTs. With those assets, FLOW can be used to operate the applications or do any transactions as the primary cryptocurrency.
FLOW is used for every flow network activity for as little as creating a new account and storing a digital asset. Some more significant payments like an admin fee, a peer-to-peer payment, and a rewarding purpose also use FLOW.
Last but not least, just like other cryptocurrency tokens available on the market, FLOW can be used to earn some profit. Traders can do trading activities as they like, while investors can profit from the future capital gain. Still, there is always a high risk alongside a high reward from cryptocurrency.
How to Buy FLOW Coin
The way to buy FLOW is similar to how to buy other cryptocurrency tokens. Firstly, you need to choose the best market platform for you. In this case, Binance, Huobi Global, Gate.io, KuCoin, and Coinbase Exchange are popular marketplaces that provide FLOW.
After a particular crypto exchange platform is chosen, you need to register yourself to that platform. You will probably be required to spend some initial fees according to your chosen platform. Then finally, you can continue your purchase after you are done with all the necessary preparations.
The Future of FLOW Coin
Even though the value of FLOW is at an all-time low currently, it still has some potential in the future. The popularity of NFTs, dApps, and blockchain games, which is the pillar of the Flow network, is perhaps not as immense as before.
However, there would possibly be some new interesting blockchain-based projects in the future, which will increase the value of FLOW Coin. That is why this coin is an excellent instrument for future investment, especially with its current very affordable price.