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About FLEX(FLEX)
What Is CoinFLEX?
CoinFLEX is a cryptocurrency exchange and derivatives trading platform founded in 2019. It was created by a team of experienced traders and developers, including Mark Lamb and Sudhu Arumugam, who brought their expertise from traditional financial institutions like the Chicago Mercantile Exchange and JP Morgan. Unlike many other cryptocurrency exchanges that focus on spot trading, CoinFLEX specializes in futures and perpetual contracts, offering a unique proposition in the crypto market.
The platform is known for its physically delivered futures contracts for Bitcoin and other cryptocurrencies, a feature that sets it apart from its competitors. This means that at the expiration of a contract, traders receive the actual cryptocurrency instead of a cash settlement. CoinFLEX also offers high leverage options, up to 100x for Bitcoin futures, appealing to traders looking to amplify their trading strategies. Additionally, the platform uses the FLEX token, an ERC-20 token, to provide various benefits like discounted trading fees and voting rights on platform decisions.
In April 2023, the platform announced its closure on October 31, 2023, and revealed plans to transition to OPNX (Open Exchange) in the upcoming months.
Resources
Official Website: https://coinflex.com/
How Does CoinFLEX Work?
CoinFLEX operates as a centralized cryptocurrency derivatives exchange, offering a range of trading products like perpetual contracts, futures contracts, and spot markets for various cryptocurrencies. Its trading engine is designed for fast and reliable trade execution, complemented by sophisticated trading tools and APIs for algorithmic trading. The platform caters to different types of traders by providing a variety of trading products, each designed to meet specific trading needs and strategies.
One of the notable features of CoinFLEX is its AMM+ system, an innovative automated market-making system that combines the benefits of centralized and decentralized exchanges. This system provides deep liquidity for trading pairs while allowing traders to interact with the order book and place limit orders. Additionally, CoinFLEX has introduced a decentralized clearing and custody system, enhancing the security and integrity of user funds and transactions.
What Is FLEX Token?
FLEX is the native token of the CoinFLEX platform. It plays a crucial role in the ecosystem, facilitating trading and offering various benefits to its holders. Users can use FLEX tokens to pay for trading fees at a discounted rate, access higher leverage levels, and participate in the platform's governance through the FLEXDAO system. The token also allows for staking, enabling holders to earn a share of the platform's revenue.
CoinFLEX has a unique approach to managing the FLEX token supply. The platform burns 10% of its profits and revenue to reduce the token's circulation, enhancing its value over time. Additionally, another 10% of profits and revenue are allocated to the FLEXDAO as staking rewards, providing long-term incentives for users.
What Determines CoinFLEX's Price?
The price of CoinFLEX's native token, FLEX, like any cryptocurrency, is influenced by a complex interplay of factors, deeply rooted in the principles of blockchain">blockchain technology and market dynamics. Primarily, the price is driven by supply and demand dynamics within the cryptocurrency market. Demand for FLEX tokens can surge due to various factors, including the platform's unique features like physically delivered futures contracts, the innovative AMM+ system, and the decentralized clearing and custody system. These features attract both retail and institutional traders, increasing the token's utility and, consequently, its demand.
Another critical factor influencing FLEX's price is the tokenomics of the FLEX token itself. CoinFLEX has adopted a unique approach to managing its token supply, implementing a burn mechanism where 10% of the platform's profits and revenue are used to permanently remove tokens from circulation. This scarcity mechanism can lead to an appreciation in the token's value as the available supply diminishes over time. Additionally, the platform's decision to allocate another 10% of profits and revenue to the FLEXDAO as staking rewards creates an incentive for holding the token, which can reduce market supply and potentially drive up the price.
Market sentiment and broader trends in the cryptocurrency and blockchain industry also play a significant role in determining the price of FLEX. Positive developments within the CoinFLEX platform, such as strategic partnerships, technological advancements, or regulatory compliance achievements, can boost investor confidence and attract more users to the platform, thereby increasing demand for the token. Conversely, broader market downturns or negative news can lead to decreased demand and a drop in price. As with all cryptocurrencies, potential investors should be aware of the volatile nature of the market and conduct thorough research before investing.
FLEX to local currency
Crypto calculator- 1 FLEX to USD$1.8
- 1 FLEX to JPY1.796389
- 1 FLEX to VND1.796389
- 1 FLEX to RUB1.796389
- 1 FLEX to EUR (Español)1.796389
- 1 FLEX to TRY1.796389
- 1 FLEX to EUR (Italiano)1.796389
- 1 FLEX to EUR (Français)1.796389
- 1 FLEX to EUR (Deutsch)1.796389
- 1 FLEX to CNY1.796389
- 1 FLEX to TWD1.796389
- 1 FLEX to EUR (Português)1.796389
- 1 FLEX to IDR1.796389
- 1 FLEX to THB1.796389
- 1 FLEX to PLN1.796389
- 1 FLEX to UAH1.796389
- 1 FLEX to UZS1.796389
- 1 FLEX to SAR1.796389
- 1 FLEX to PHP1.796389
Trade FLEX perpetual futures
After having successfully signed up on Bitget and purchased USDT or FLEX tokens, you can start trading derivatives, including FLEX futures and margin trading to increase your income.
The current price of FLEX is $1.8, with a 24h price change of -0.60%. Traders can profit by either going long or short onFLEX futures.
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FLEX Social Data
In the last 24 hours, the social media sentiment score for FLEX was 3, and the social media sentiment towards FLEX price trend was Bullish. The overall FLEX social media score was 0, which ranks 1432 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with FLEX being mentioned with a frequency ratio of 0%, ranking 1432 among all cryptocurrencies.
In the last 24 hours, there were a total of 156 unique users discussing FLEX, with a total of FLEX mentions of 0. However, compared to the previous 24-hour period, the number of unique users increase by 47%, and the total number of mentions has decrease by 0%.
On Twitter, there were a total of 0 tweets mentioning FLEX in the last 24 hours. Among them, 0% are bullish on FLEX, 0% are bearish on FLEX, and 100% are neutral on FLEX.
On Reddit, there were 1 posts mentioning FLEX in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 0% . Additionally, there were 0 comments mentioning FLEX. Compared to the previous 24-hour period, the number of mentions decrease by 0%.
Visão geral das redes sociais
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