crypto.news
FLUX, the cryptocurrency powering a decentralized computing network for artificial intelligence and decentralized physical infrastructure networks, is one of the top-gaining tokens in the past 24 hours.
At the time of writing on Sept. 3, Flux (FLUX) price traded at highs of $0.71, having spiked more than 24% amid major news announcements.
Flux token’s upside move followed key announcements around the project.
On Sept. 2, the proof-of-work cryptocurrency announced that the World Future Awards had selected Flux among the Top 100 blockchain projects.
Blockchain research and advisory group House of Chimera also identified Flux as one of the projects to watch in the space, citing growing demand for high-end graphics processing units from tech companies.
The firm noted that AI, computing, and cloud gaming are key drivers of this demand, with decentralized platforms such as Akash Network, io.net, and Flux well-positioned to dominate.
FLUX price, which has remained in a downtrend since hitting $1.63 in March 2024, is now seeing an uptick amid this positive outlook.
However, much of the latest spike could be related to news from Binance, the world’s largest crypto exchange by trading volume. On Sept. 3, Binance listed FLUX futures, adding support for the FLUXUSDT Perpetual Contract. The product offers up to 75x leverage, with multi-assets mode allowing users to trade with other assets like BTC as margin.
FLUX price near key resistance level
With futures trading enhancing the token’s accessibility in the market, the community’s reaction to the listing has propelled FLUX price higher.
The altcoin’s value hovered around $0.49 earlier in the day, with largely uninspired trading as Bitcoin (BTC) fluctuated near $59,000 and Ethereum (ETH) battled to hold above $2,500.
However, despite the broader crypto market lull, Flux price rose sharply, mirroring recent gains. The surge to the $0.71 level – an area that marks a three-month resistance zone – could be critical. A reversal is likely amid bearish predictions for BTC, but the coming months might also be key to the altcoin.