One of the popular blockchain protocols of recent days, Flux Getting ready to perform the “halving” event.
As announced by the official Twitter account of the protocol, the halving is almost 80% active. came. Existence is wider cryptocurrency aroused community interest for a token that received the right attention from its ecosystem.
Halving is a networking event where the rewards allocated to miners in the protocol are halved. It is the mechanism specific to proof-of-work (PoW) digital currencies such as Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE).
The Flux halving is an exception, given that the protocol operates a special version of the consensus model called useful proof-of-work (PoUW). Without too many details on when the exact timing of the halving will occur, members of the Flux community are already worried, with many predicting a price as high as $5 for the altcoin.
loading #Flux ☁️ halvening
▓▓▓▓▓▓▓▓▓▓ rated 80%#5YearsWithFlux #web3 #FutureisFluxNEWS CONTINUES BELOW
— Flux-Web3 Cloud (@RunOnFlux) January 29, 2023
As we have reported as Koinfinans.com, the coin is trading at $ 0.9502 at the time of writing this news. The estimate makes it a more than 400% increase from the current price point.
Potential Impact on Flux Price
bitcoin and many established digital currencies such as LTC often use the halving event as a rallying point for more targeted price increase. Ideally, most of these top digital assets record a huge price long before the halving, a reflection of investors’ enthusiasm for the coin’s future.
Currently, FLUX has started to exhibit these dynamics as it was one of the best performing altcoins last week. The protocol also presents itself as an all-in-one ecosystem where users can mine FLUX, invest in and be exposed to multiple blockchain protocols including Kadena, Binance Smart Chain, and Avalanche.