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- Flux (FLUX) recently reported hitting its recent highest.
- TVL of the crypto asset was also reported as crossing 100 million USD.
Every other cryptocurrency within the global crypto market is facing turbulence, due to various factors. Since the start of this year, there has been hardly a time when crypto assets were in a relaxed situation. Every now and then, the drops in prices kick in for various cryptocurrencies. However, a handful of these assets manage to enjoy their part of price surges.
Recently, a known altcoin named Flux (FLUX) witnessed impressive growth. On Tuesday, 5th September 2022, FLUX’s price achieved its recent high of approx 1.4 USD. The growth is significant in many terms whereas it is the highest since May 2022. Additionally, by achieving this cryptocurrency noted a growth of a staggering 237% from its lowest of this year.
Currently, FLUX is trading at around 1.26 USD with a decline of approx 6.5% in a day while it’s up by more than 25% in the last seven days. The cryptocurrency holds an overall market cap of over 334 million USD and holds the 97th position in terms of the biggest crypto across the global crypto market.
Although there were not many visible reasons behind this jump in FLUX price, just a couple of them. One such potential reason is more investors are buying the crypto asset. The stats of total value locked proves this claim as it soared upto 108.5 million USD. This is also a notable growth considering the TVL was below 100 million USD a few months ago.
Launching of some upgrades or products within the ecosystem also impacts the overall relevance, Flux might also be dealing with the same. Flux Geolocation 2.0 is down the road that would make the users specify according to their regions. One of the highly anticipated upgrades is yet to launch in the upcoming months.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
