Flow Foundation Permanently Destroys 87.4 Billion Counterfeit FLOW Tokens
- Token Burn Completed: The Flow Foundation confirmed the permanent destruction of 87.4 billion counterfeit FLOW tokens, marking the completion of remediation efforts since the December security incident, ensuring no counterfeit tokens circulate and restoring user trust while enhancing network security.
- Network Restored: Within 24 hours post-incident, validators deployed a security patch, returning network operations to normal with over 3 million transactions in a single week, demonstrating a strong recovery in ecosystem activity and solidifying Flow's market position in DeFi.
- Enhanced Security Measures: To prevent future incidents, the Flow network has strengthened runtime type validation and monitoring mechanisms, while elevated recovery permissions for the Community Governance Council will ensure network security and resilience, boosting user confidence.
- Ecosystem Development: With the completion of security remediation, Flow shifts focus to ongoing ecosystem growth and product development, with recent protocol upgrades introducing transaction fee mechanisms that promote long-term tokenomics sustainability, indicating future growth potential.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for FLOW
Technical Sentiment Analysis for Flow (FLOW) As of , Flow (FLOW) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for FLOW stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, FLOW is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Flow (FLOW) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00306 | 0.0194 | 0.0342 | 0.0505 | 0.0653 | 0.0816 | 0.0964 |
| Fibonacci | 0.0194 | 0.0313 | 0.0386 | 0.0505 | 0.0624 | 0.0698 | 0.0816 |
About FLOW
About the author
