FLUX Cryptocurrency Powers Decentralized Computing Network for Artificial Intelligence and Physical Infrastructure Networks

FLUX, the cryptocurrency powering a decentralized computing network for artificial intelligence and decentralized physical infrastructure networks

FLUX, the native cryptocurrency powering a decentralized computing network for artificial intelligence (AI) and decentralized physical infrastructure networks, is among the top-gaining tokens in the past 24 hours.

At 09:39 EST on Sept. 3, Flux (FLUX) price trades at highs of $0.71, up 24.3% over the past day. The token’s upside move comes amid major news 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.

"We are honored to announce that Flux has been selected by the World Future Awards as one of the top 100 blockchain projects,” the team stated, adding:

"This award recognizes Flux's decentralized computing power, which is used by projects like Akash Network, io.net, and others to build a new decentralized internet and web3."

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 (GPUs) from tech companies.

The firm noted that AI, computing, and cloud gaming are key drivers of this demand, with decentralized platforms like Akash Network, io.net, and Flux well-positioned to dominate.

"Demand for high-end GPUs from large tech companies is growing rapidly. This is being driven by increasing requirements for AI, computing at the edge, and cloud gaming, among other applications,” the firm stated in its analysis.

"Several decentralized platforms are also seeing high utilization for their compute resources, which is expected to continue growing in the coming months. Among them, Akash Network, io.net, and Flux are well-positioned to service this demand."

FLUX price remained in a downtrend after hitting highs of $1.63 in March 2024, but 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 announced support for the FLUXUSDT Perpetual Contract, adding FLUX futures to its platform. The product offers up to 75x leverage, with multi-assets mode allowing users to trade with other assets like Bitcoin (BTC) as margin.

"Trade FLUXUSDT Perpetual Contract With Up to 75x Leverage! Binance Futures now supports the FLUXUSDT Perpetual Contract (75x). Choose BTC, BUSD, or USDT as your margin asset and enjoy multi-assets mode," the exchange noted in a statement.

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) price fluctuated near $59,000 and Ether (ETH) price 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 for the altcoin.