Home / Analysis / Crypto / Technical Analysis / Flux To Follow Render and Ride AI Wave After Reaching 5,000 Connected GPUs?

Flux To Follow Render and Ride AI Wave After Reaching 5,000 Connected GPUs?

Last Updated February 22, 2024 1:52 PM
Nikola Lazic
Last Updated February 22, 2024 1:52 PM
By Nikola Lazic
Verified by Peter Henn

Key Takeaways

  • Flux appears poised to capitalize on AI enthusiasm.
  • It has more than 5,000 GPUs marking arobust network growth.
  • Flux’s price shows signs that a bullish cycle might be starting.

Flux, a decentralized computing network, could capitalize on the burgeoning enthusiasm surrounding artificial intelligence (AI), mirroring the trajectory experienced by Render. As the digital landscape increasingly integrates AI, Flux looks like it might benefit from the wave of positive sentiment. 

The growing interest in AI has already shown its capacity to elevate related projects and tokens. The significant gains of the Render token, driven by its association with rendering services for AI and 3D projects, exemplify how direct ties to the AI  sector can result in heightened investor interest and market performance. 

By aligning itself with AI, Flux could similarly ride off this wave. It has the potential to attract both attention and investment from those keen on the current tech craze.

Flux Reaches New Milestone

Flux network has achieved a significant milestone, signaling robust growth and technological adoption with over 5002 GPUs now connected to its platform, as highlighted on its leaderboard 

 

This achievement is a numerical landmark and testament to the expanding infrastructure and community trust in Flux’s capabilities. Integrating such a substantial number of GPUs underscores the network’s commitment to using high-performance computing for various applications. These include, but are not limited to, AI, machine learning, and complex computational tasks.

This milestone is particularly relevant in the growing demand for decentralized computing resources. By harnessing the power of a vast array of GPUs, FLUX is positioning itself in the decentralized finance (DeFi) and blockchain spaces. It claims to offer scalable and efficient solutions that could rival traditional cloud computing services. GPUs are crucial for accelerating AI algorithms and processes. Therefore, these could make FLUX attractive to developers and investors interested in the intersection of AI and blockchain technology.

Flux Price Prediction

FLUX has been trending upward since its bear market low of $0.30 in September 2023. We saw a rise of 200% as it reached nearly $1 at its peak on February 19. 

Daily chart.
FLUX eyeing $1.30

The price showed some signs of struggle as it reached a significant horizontal resistance level. However, the price is back at its previous daily candle open, indicating buyers are still very much present. 

Before this uptrend, FLUX was in a bear market after reaching its all-time high of almost $4 in January 2021. The recovery from September, bringing its price back close to the previous high in January 2023, could signal the start of the bull cycle

Another high would be expected in the short term, most likely at it upper horizontal resistance level of $1.30. If that happens, we could have the first higher high and a clear validation of the more significant starting uptrend. 

After the current uptrend ends, a corrective phase should bring it down to $0.70. This would not only be the first higher low, but it would also confirm the lasting bull cycle. FLUX could embark on an upward trajectory to reclaim its all-time high and continue to a new one in 2024 if this plays out. 

Disclaimers

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

Was this Article helpful? Yes No