By Franklin Smith
The Flow blockchain remained dedicated to building regardless of the downbeat performance of its native crypto. Its recent announcement could be crucial for the network’s future as far as FLOW utility is concerned.
Flow confirmed the availability of crucial tools, such as the Cadence smart contract language, essential for developers on the blockchain network.
The DZone development community executed those resources. Moreover, the increased accessibility of the tools can enhance development in the FLOW network.
It remains fascinating to witness whether FLOW awaits a rapid expansion period following the increased tools. The fast-tracked decentralized applications (Dapps) and smart contracts will enable the blockchain to unlock liquidity flow and increase utility.
FLOW Developments
Talking about the development, FLOW maintained impressive development activity over the past four weeks. It recorded impressive upswings within the past ten days, though the metric displayed slowdowns within the past two days.
Meanwhile, the available development tools will allow the blockchain to retain steady activity in the near to long term. FLOW’s social dominance witnessed a massive surge over the past day. The latest announcement could have boosted the token’s social dominance.
Moreover, Flow’s weighted sentiment didn’t record a substantial shift, regardless of the brief surge in social dominance.
That could have emerged from the news emphasizing the possibility of increased FLOW’s long-term demand. Increased decentralized applications on the blockchain will heighten the crypto’s demand.
FLOW Price
Meanwhile, time will reveal everything as the network sees more developments. Thus, investors should watch dApps joining the network henceforth.
Despite that, FLOW’s price attempted upside movements early this week. The alternative token rebounded from the low of $1.46 to $1.57 – the weekly high. However, selling pressure dragged FLOW to $1.45 during this publication.
FLOW’s plummet didn’t crash to the past week’s lows, suggesting some need around the lower range. Meanwhile, the asset’s price action demonstrated low demand within the current markets.
The NFTs space confirmed such narratives, as non-fungible tokens remain the leading demand drivers for the blockchain.
NFT trades count has declined to monthly lows. Though the latest announcement meant a move in the correct direction, it may not lead to lucrative near-term effects. Nevertheless, it could contribute to development and growth in the long run.
Editorial credit: photo_gonzo / shutterstock.com