FLOW’s status will improve with the latest upgrade, making it more attractive for mass adoption. FLOW is due for a retracement, but the upgrade may delay that result
The Flow network is about to change things up with the upcoming upgrade called the Flow mainnet spork. One of the most important things to consider is what such an upgrade will do for the network. Flow’s latest update can provide insight into what to expect.
Read FLOW’s price forecast 2023-2024
According to the update, one of the biggest benefits of the mainnet upgrade is the ability to scale. The network revealed that it plans to handle petabytes of data, giving it an edge over many other top blockchains. Even more interesting was that the upgrade allows Flow to dramatically improve its TPS.
The Flow mainnet spork is only days away and we are gearing up for unprecedented scaling. We will lay the groundwork to scale Flow to Petabytes of data, a feat no other blockchain has achieved 📈
— Flow (@flow_blockchain) January 13, 2023
A higher number of transactions per second allows the network to increase its scale. This can also be considered a step aimed at preparing for mass adoption.
These upgrades will make it easier for Flow to compete more effectively with other blockchain networks. These upcoming upgrades are good news for the Flow community, but could they enable a surge in demand for the FLOW cryptocurrency?
There are a few noteworthy things that could indicate a potential impact on this upcoming FLOW upgrade. For example, development activity has been improving since the beginning of this month, which is a healthy observation from the development side.
Source: Sentiment
More recently, Flow’s measure of social dominance experienced its biggest increase in the past four weeks. This means it could get a lot of attention amid news of its major network upgrade. This corresponds to the increase in volume since January 12, reaching a new monthly peak.
Source: Sentiment
In addition, FLOW price volatility has turned in favor over the past three days. These observations allowed FLOW’s price action to extend its upward momentum over the past three days. A result that has led to a collective rally of 78% over the past two weeks.
Source: TradingView
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But can FLOW sustain its current trajectory, especially now that it is about to go through a large network. It could turn out to be a case of “buy the rumor, sell the news,” especially now that it’s overbought.
What to expect in the near future?
Flow’s upcoming upgrade could make the FLOW cryptocurrency fit for more organic demand in the long run. However, near-term performance may experience a resurgence of selling pressure given the current overbought condition. There may be an additional run-up if news of the upgrade manages to attract more buyers, but this will only slow down the retracement.
This post Flow talks about what to expect from its mainnet spork, including a TPS boost
was published first on https://ambcrypto.com/flow-narrates-what-to-expect-from-its-mainnet-spork-including-a-tps-boost/
