Active Address & Whales Rising In FLUX, Highlights Growth Ahead?

• 1 The FLUX crypto has shown significant market activity and Whale activity has also increased.
• 2 FLUX displays bullish indicators, such as being above the 20 and 50-Day EMA bands and a positive MACD.

Flux represents a distributed computing framework that offers essential infrastructure capabilities, including data hosting and storage solutions. Its objective is to allocate computational responsibilities throughout its decentralized network, utilizing the collective strength of its nodes to deliver resilient, distributed cloud services. 

The Flux token (FLUX) is used for various operations including transaction processing, staking, and the distribution of incentives, all within the Flux network’s environment.

FLUX Price, Volume, And Market Cap Analysis

These are the most common metrics that shape the major structure of a crypto asset’s price action on the daily chart. The crypto volume and market cap reflect the fluctuations in buying and selling of the FLUX price. The surge and decline in these values illustrate volatility in the FLUX asset price.

A closer look at the chart shows that both volume and token price were low before January 2024. That meant a lack of interest and activity in the market for the FLUX token. Volume was earlier under $25 Million while the price was hovering around $0.60.

However, from the second week of February 2024, volume and price continued to rise, and a significant pump in its activity was observed which illustrated increased demand for FLUX. The trading volume exceeded $500K to the max at $40 Million and the price rose drastically from $0.60 to $1.6 by March 18th, 2024.

Moreover, at press time, the volume was 41.49 million, and the market capitalization is $455.51 Million. The higher market capitalization often attracts liquidity as it assists in better investing and buying or selling FLUX assets more quickly and easily. 

Similarly, an examination of the market cap changes over the Santiment chart illustrates insights into potential FLUX price movements and overall market health over time. The market cap has been displaying spikes from the start of the year, and the corresponding fluctuations were reflected in the daily chart, this suggests that buyers’ and sellers’ interest in the FLUX price has increased.

Total Amount Of Holders And Whales Activity Over FLUX Crypto

The above chart displays the activity of whales in the FLUX crypto over a period of time along with the price movement. In particular, the whale holdings in FLUX saw advancement after January 2024 onwards and are currently at 52.196%, symbolizing that whales are actively interested in buying it.

Moreover, the total amount of holders is on a steady rise which means that investors and traders are showing interest in the crypto.

Active Addresses Are rising

Active addresses refer to unique addresses of FLUX token users that participate in one or more transactions within a given timeframe. The number of distinct addresses in the FLUX token that participated in a transfer for the given asset in the past 24-hour window is 208 transactions, in the 7-day window the number is 1065 transactions, and in the 30-day window it is 3059 transactions.

FLUX Crypto On Chain, Transaction Volume Ratio In Daily Profit To Loss

Since the volume in loss is high and the ratio is below 1 due to the recent dip observed in the FLUX price, it means that most holders might be in a negative position due to the recent dip in price and FLUX crypto’s sentiment and behavior may be more likely to hold or buy more.

FLUX Price Analysis Over Daily Chart, Can It Surpass $2.0?

The FLUX asset is exhibiting bullish strength and rising capacity as it has already jumped above key levels, the 20, and 50-Day EMA bands. Also, the FLUX asset is displaying bullish behavior as MACD is above the zero line at 0.147 with a broad histogram at 0.0123 indicating that it can extend its gains.

The FLUX asset is showing bullish signs and it has the potential to grow further. It has performed well in the past week by 8.39%, month by 83.90%, and quarter by 129.11%, indicating a strong uptrend.

Therefore, if the FLUX asset price manages to sustain its current decline it could bounce back from the current level, shatter hurdles above, and reach new altitudes. The next goal for the FLUX price could be to reach $2.0 and with resistance at $1.70.

On the flip side, if the FLUX crypto price fails to stay above the $1.20 level, it could decline further.

Summary

The FLUX crypto has shown significant market activity and whale activity has also increased, with their holdings reaching 52.196%, suggesting a bullish sentiment among large investors. Moreover, the number of FLUX holders and active addresses is rising, reflecting growing investor and trader interest.

Despite a recent price dip, FLUX looks solid long term as it is still above the 20 and 50-Day EMA bands and the MACD is positive. Therefore, if FLUX maintains its momentum, it could potentially overcome resistance levels and hit the $2.0 price target, with resistance at $1.70. However, if it drops below $1.20, further declines could occur.

Technical Levels

Support Levels: $1.20

Resistance Levels: $1.70

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.