Ana Sullivan

FlorinCoin (FLO) Coin – Will It Keep Rising After Its Astounding 142 Percent Uptrend?

by Ana Sullivan June 6, 2018

FlorinCoin is a scrypt-based coin with an augmented function. A “scrypt” is a password-based key derivation function. The FlorinCoin (FLO) coin has reached a market capitalization of 27.21 Million dollars in the last 24-Hour period. The coin traded 142.67% higher against the U.S. dollar during the last 24 hours ending at 11:00 AM EDT on June 6th. Since the beginning of 2018 no other similar spikes have occurred regarding the price and market cap of the (FLO) coin.

 

 

 

The FlorinCointeam has published a short White Paper on one of their official websites. The paper introduces people to the coin and the idea behind it, without being technically fit to be one, staying on the abstract side of things. Some investors interested in this crypto find the paper concerning.

 

FlorinCoin (FLO) – Today's Performance

 

The FlorinCoin has reached a market capitalization of 27.21 Million dollars in the last 24-hour period. FlorinCoin (FLO) saw a huge rise of 142.67% at 11:00 AM EDT, on June, 6th against the US dollar. This price spike seems abnormal as the price hasn’t been this high since the beginning of the year. You can see the price fluctuations and today’s gigantic price spike in the chart down below:

 

 

The graphical chart was taken from the CoinMarketCap website.

 

Large up and down spikes have been observed with this cryptocurrency in the past as well, and they have all been short-lived.

 

FlorinCoin (FLO) – Historical Background

 

FlorinCoin is a scrypt-based coin with an augmented function. A “scrypt” is a password-based key derivation function.

 

Florincoin is a next-generation cryptocurrency with an innovative feature added to the blockchain. This open source software was created, with no pre-mining, on June 17th, 2013, by a Bitcointalk community member who wishes to stay anonymous. Florincoin has the scrypt proof of work algorithm and has a forty second block timer. The technology built upon Florincoin is useful for the crypto world, and on a greater scale, can benefit the whole Internet, as well.

 

However, FlorinCoin is rather unreliable as a cryptocurrency with many unusually big spikes happening with its price value and market cap for very short periods of time. Some suspect that those events might be actual pump and dump tactics.

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