Why is Flux (FLUX) crypto rising?

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Why is Flux (FLUX) crypto rising?

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 Why is Flux (FLUX) crypto rising?
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Highlights:

  • Flux claims to be a new-gen, scalable decentralized cloud infrastructure that allows users to build and operate their applications on different servers at once.
  • The token is listed on major crypto exchanges like KuCoin, Hotcoin Global, etc.
  • FLUX returned more than 984% gains over the past 12 months.

The Flux (FLUX) crypto price rose by more than 9%, while the trading volume surged over 148% in the 24 hours to Tuesday morning. The FLUX token has been drawing attention lately.

The crypto market has recovered considerably from its persistent dip last month. The Russia-Ukraine crisis has accelerated the volatility in the market.

On Tuesday, the global crypto market was up 1.53% to US$2.16 trillion at 7:28 am ET, while its volume surged 9.53% to US$120.93 billion at the same time.

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What is Flux (FLUX) crypto?

Flux claims to be the new-gen, scalable decentralized cloud infrastructure that allows users to develop and operate their applications on different servers at once. Its ecosystem is a fully-operational suite of decentralized computing and blockchain-as-a-service solutions, which provides an interoperable, decentralized, and AWS-like development system.

The decentralized Flux network is highly flexible. Its nodes are collateralized and operated by its node operators. FLUX is a native GPU mineable proof of work (PoW) coin that enables network growth, incentivizes users, and on-chain DAO governance. Its staking requirements for running hardware prevents threats from bad actors.

Flux’s node operators are rewarded with FLUX coin. In addition, operators can earn other cryptos by hosting specific decentralized applications (DApps) on their nodes.

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Why is it rising?

Tuesday’s Flux crypto rally follows its announcement about its listings on two leading crypto exchanges. Also, the overall advances in the market may have bolstered gains.

Flux said that the Swyfttx crypto exchange listed its coin on Tuesday. People can now buy, sell, and trade the crypto on Swyfttx. Flux said that the Binance US also listed the token in its exchange with both Flux- BCS and ETH pairings.

The token is also listed on exchanges like KuCoin, Hotcoin Global, BingX, etc.

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Flux (FLUX) crypto price and performanceSource: *Data provided by CoinMarketCap.com

Bottom line:

The FLUX coin was priced at US$1.86 at 8:09 am ET on March 29, up 9.90%, while its one-day volume jumped 148.18% to US$52.42 million. Its max supply is 440 million, and its current circulating supply is over 229.97 million.

It has a market cap of US$427.24 million, and its fully-diluted market cap is US$817.41 million. FLUX gave a return of 984.92% over the past 12 months.

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