The NFT coin project is back on the agenda with FLOW news. Of course, this news is not about taking the crypto market by storm with an unbeatable rally. However, the network seems focused on giving more options to its users accessing its decentralized infrastructure.
A new move from NFT coin project Flow
To achieve its goal, FLOW has added some integrations to the recently launched Decentralized Exchange (DEX), MetaplierFlow. As Flowverse reports, the integration spawned a partnership with cross-chain platform Celer Network.
https://twitter.com/flowverse_/status/1562969325119496192
The latest partnership is another one to strengthen decentralization in the FLOW ecosystem. Recall from the cryptokoin.com news that this is not the first step in creating such systems. Previously, FLOW had partnered with a Decentralized Autonomous Organization (DAO) for a similar mission.
While there are some differences, the latest development means that FLOW users will easily bridge between other cryptocurrencies. Assets mentioned include USDC, Wrapped Etheruem (WETH), Ethereum (ETH), and Wrapped Bitcoin (WBTC). Despite these successive additions, the FLOW price did not react positively.
FLOW price action and analysis
The integrations did not result in a positive price action for the NFT coin project FLOW. According to CoinGecko, the coin seems to prefer to “flow” in a southerly direction. At the time of this writing, the cryptocurrency price was exactly $1.90. Based on this value, the NFT coin has seen a 9.5% drop compared to the last 24 hours. Interestingly, the cumulative thirty-day change is still positive, up 18.58% as of August 26. Crypto analyst Suzuki Shillsalot provides the following analysis for FLOW.
However, one month’s green purchase was not enough to generate positive sentiment for the coin. It’s possible for FLOW traders to find some positives from these updates. First, the four-hour chart against USDT showed much lower volatility than it did between August 18 and August 22. Bollinger Bands (BB) spawned this sentiment.
As for momentum, the Relative Strength Index (RSI) was neutral but showing bleak signs at 45.70. Awesome Oscillator (AO) was undecided on whether it was bullish or bearish while taking it a step further. However, it was more of a negative sign with an AO value of -0.048.
Source: TradingViewLooking at the on-chian part, the impression of FLOW may not match expectations, especially for short-term traders. According to Santiment, the integration has triggered development activity on a positive trend. But the total supply of whales remained almost unchanged for $5 million and more.
Source: SantimentFLOW needs a 94.9% increase to reach All-Time High (ATH) again. It is possible that investors who are this far away want to keep their hopes to a minimum. However, all may not be lost even if the crypto market is not showing clear signs of exiting the bear state.
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