FLOW price prediction: What’s next for the FLOW coin?
Flow surges as Meta announces Instagram NFT integration
- What is Flow (FLOW)? – An overview
- A developer-friendly blockchain
- FLOW native token
- Founders of Flow
- Coin performance
- Flow price prediction
A layer one blockchain, Flow, according to its website, is on a mission to bring blockchain to the mainstream. As a developer-friendly blockchain, Flow hopes to become a hotbed for a host of new apps and programmes to be built upon.
With a range of technologies to improve scalability while not compromising security or simplicity, Flow is attempting to become a major player on the Web3 scene. But does the project have legs? What is the Flow price prediction?
Before looking at forecasts, let’s do a quick overview of the coin.
What is Flow (FLOW)? – An overview
Describing itself as “the blockchain for the open world”, Flow launched in early 2021. It uses a multi-node architecture that, according to its website, improves on scalability without using the process of sharding, which allegedly is “non-ACID compliant”; that is, a database that does not have the four properties it should have – atomicity, consistency, isolation and durability – to be safe and secure.
What is multi-node architecture? Unlike in traditional blockchains, where each node stores all the information and performs all the work, Flow technology claims to make the process much more efficient by replicating the process of pipelining and applying it to the blockchain. Jobs done by nodes are divided into four roles: collection, consensus, execution and verification. Labour is separated vertically, unlike sharding, where labour is distributed horizontally.
All nodes are involved in the process, the literature states, but they only have to undertake one specific role within it.
Sharding, the separation of blockchains into inter-connected network, according to Flow, removes serialisability, which renders app building much more difficult and vulnerable to errors.
According to the Flow website: “Sharding effectively saddles the hardest part of scaling the blockchain onto application developers rather than solving it at the protocol level.”
A developer-friendly blockchain
Flow claims another major feature that differentiates it in an otherwise increasingly saturated market is the way in which it prioritises the developer’s experience.
The ecosystem uses the programme Cadence, which, according to the literature, is the “first ergonomic, resource-oriented smart contract programming language”.
The project also uses resource-oriented programming, which is supposedly more secure and easy to use.
Finally, the Flow team have developed a way in which smart contracts can be upgraded even once they have been deployed. According to the website, smart contracts can be put up onto mainnet in “beta state”. These contracts can then be tweaked by the original authors. Once the tweaks have finished, the smart contract can be released, becoming immutable.
FLOW native token
The FLOW coin has several functions on the ecosystem. It is the currency that users and developers transact with on the system. FLOW can also be held or transacted between users, as well as staked to earn rewards.
Founders of Flow
Flow was set up by the same team who founded Dapper, CryptoKitties and NBA Top Shot.
Dieter Shirley founded Flow as well as co-founding CryptoKitties. He is also currently the CTO of Flow.
Shirley studied computer science at the University of Waterloo in Canada the early 1990s. He subsequently worked as a software engineer for a range of companies including Metrowerks, Vertigo 3D, Schemasoft, Apple and Axiom Zen.
He is based in Vancouver, Canada, and became CTO of Dapper Labs upon the company being launched in March 2018.
Roham Gharegozlou is the CEO of Dapper Labs, the CEO of Flow as well as the co-founder of both CryptoKitties and NBA Top Shot.
Gharegozlou, also based in Vancouver, completed a BA in economics at Stanford University before undertaking an MS and BS in biological sciences at the same university.
Can we offer a Flow price prediction for 2022? Before looking at forecasts, let’s look at recent performance of the coin.
The Flow coin has experienced significant volatility since its launch in early 2021. Recordings from CoinMarketCap show FLOW opened trading at $8 on 27 January 2021, soaring to over $20 in February. The token then met its all-time high on 5 April, trading at $46.16.
The token has subsequently dropped in value, hitting lows of $7.14 in June 2021. Another 2021 price surge ensued, and the token met another high of $24.63 in late August, though the token has largely downtrended since. On 1 January 2022, the token opened at $8.80.
As February came to a close, Flow coin price stood at $6.35 but recovered slightly to $6.80 on 31 March, roughly in line with broader market activity. The downtrends continued however, hitting $4.49 as April came to a close, and down to $2.71 on 31 May. The token then hit its all-time low, trading at $1.17 on 18 June.
Moving roughly in line with broader market activity, the token opened at $1.51 on 1 July, and closed the month at $1.93.
The most recent price surges came as Mark Zuckerberg, Meta CEO, announced that Instagram had expanded its NFT initiative to support 100 more countries, including collectibles from the Flow blockchain.
The Meta Newsroom also commented:
This saw the token pump to $2.81, as of 5 August 2021, an increase of over 50% in a recent 24-hour trading window. Flow has a circulating supply of 1.04 billion coins and a total supply of 1.39 billion. With a market cap of almost $3bn, Flow is ranked number 27 on CoinMarketCap.
But how does this affect a Flow coin price prediction? Let’s look at what the experts think.
Flow price prediction
Predictions can be helpful as an indicator of which direction the price may move but the inherent volatility of the crypto market and the many unknowns that could affect future prices mean all predictions are inherently unreliable.
DigitalCoinPrice thinks that Flow could be worth $4.10 in September, continuing the rally, but $3.72 in December. The site forecasts an average value of $4 in 2023, and $4.07 in 2024. The website’s Flow price prediction for 2025 stands at $5.23 but expects a bearish average of $5.04 in 2026. From then, the site forecasts further uptrends, hitting $12.96 in 2030 and $14.78 in 2031.
Another long-term projection can be found at PricePrediction, making a Flow price prediction for 2030 of $67.04.
However, WalletInvestor, in an underwhelming Flow price prediction, thinks Flow could go to $0.16 in a year’s time and does not recommend investing in the coin.
Flow has a circulating supply of 1.04 billion coins and a total supply of 1.39 billion.
Possibly, however, possibly not. The coin has been on a downward trend since last autumn.
It is always worth remembering that the crypto market is highly volatile and the price of all tokens and coins can go down as well as up.
Some experts think the coin will go down while others think it could go up. Broadly speaking, forecasts are not particularly optimistic with some suggesting the coin could go to zero in the future. It is always worth remembering that forecasts, especially long-term ones, should be viewed as indicators rather than absolutes.
Investing is a highly personal endeavour. Do your own research and try to keep up to date on any developments within the Flow ecoystem that could boost or dampen its prospects.
Remember, investing can be risky and it is important never to invest more money than you can afford to lose.