A decentralized cloud computing governance token is surging after being listed on crypto exchange giant Binance.
In a new announcement, Binance says that the native governance token of FLUX (FLUX), a comprehensive suite of developer-friendly application tools, will now be available for trading.
The news sent the altcoin’s price vertical, leaping 64% from $1.15 to $1.89 almost instantly. FLUX peaked as high as $2.49 but has since corrected back to $1.96 for an impressive 70% gain.
FLUX aims to provide the infrastructure developers require for Web 3.0 and decentralized applications (DApps). Its decentralized cloud computing network employs a proof-of-work (PoW) consensus mechanism.
According to the project website,
“The Flux ecosystem consists of: Fluxnodes’ decentralized infrastructure, FluxOS cloud operating system, Zelcore self-custody multi-asset wallet and blockchain app suite, and finally the Flux blockchain for on-chain governance, economics, and parallel assets to provide interoperability with other blockchains and DeFi access.”
The FLUX token can be used to buy resources, node collateralization, and fuel network transactions. Parallel assets on other blockchains include Ethereum (ETH), Kadena (KDA) and Solana (SOL).
FLUX was formerly known as Zelcore (ZEL), and it still maintains a digital wallet of the same name.
The Zelcore wallet has been operational for four years, offers over 375 crypto assets, is scalable and has built-in exchanges.
Binance says FLUX will be available in the Bitcoin (BTC), Binance USD (BUSD) and Tether (USDT) trading pairs.
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Featured Image: Shutterstock/Mia Stendal/Sensvector