While many traditional cryptocurrencies such as Bitcoin and Ethereum have been underperforming lately, and many people start to think that the current bull run might be finally coming to an end, the altcoin market is still doing well, and the DeFi ecosystem is blooming. Investors looking to maximize their gains are growing increasingly interested in groundbreaking DeFi protocols like Flamingo. But what is Flamingo really, and are the experts right in saying that Flamingo is a good investment?
What Is Flamingo Cryptocurrency?
Flamingo is a multi-functional decentralized finance (DeFi) platform. Unlike most DeFi projects which utilize the Ethereum network, Flamingo is built on the Neo blockchain and uses the Poly Network interoperability protocol.
Flamingo was founded by Da Hongfei, a veteran blockchain developer and crypto entrepreneur. Da Hongfei is mainly known for creating Neo, the technologically advanced and innovative blockchain utilized by the Flamingo DeFi ecosystem.
The most interesting thing about Flamingo is the fact that instead of being a simple DeFi solution fulfilling only one purpose, it strives to be a complete ecosystem of various decentralized finance tools.
So far, the main components of the Flamingo platform include an on-chain liquidity pool (allowing instant swapping between different crypto assets), a cross-chain asset gateway (enabling trading digital assets between different blockchains), a trading platform aimed specifically at perpetual contracts, and the Flamingo DAO (decentralized autonomous organization), which assures that the Flamingo ecosystem will continue to develop in a decentralized, democratic and community-driven way.
What Makes Flamingo Unique?
Flamingo is intended to be a single platform allowing blockchain enthusiasts to fulfill all their DeFi-related needs in one place. Flamingo combines various useful tools typical of decentralized finance solutions, which are all governed by the community through the Flamingo DAO.
DeFi platforms on other blockchains are fragmented and incoherent, which causes massive efficiency problems resulting from transferring assets between different platforms. Flamingo is different: it intends to build the DeFi ecosystem of the Neo blockchain into a seamless, unified space allowing for the rapid progress of technological innovation.
Some of the main use cases in DeFi are cryptocurrency lending, yield farming, and decentralized exchanges. However, for most cryptocurrencies and their respective DeFi environments, each of these solutions is usually provided by a single separate platform.
The main advantage of Flamingo is the fact that it combines all the DeFi tools required by blockchain investors into a complete suite of solutions. In other words, Flamingo might be considered a DeFi extension or a second layer of the Neo blockchain, as it allows the users of the Neo digital currency to use typical DeFi features such as smart contracts trading, token wrapping, liquidity providing, and staking tokens in an asset vault.
While many cryptocurrencies on the market have no real-life use cases, Flamingo is different. Because it is a multi-functional digital asset, many people think that Flamingo is a good investment and that the price of FLM tokens will appreciate in the future.
What Is the Flamingo Token?
The Flamingo token (FLM) is the native digital currency of the Flamingo DeFi ecosystem. Flamingo fulfills many various utilities on the Flamingo platform, but the most important one is empowering the people to participate in the Flamingo DAO.
The interesting feature of the Flamingo token is the fact that FLM has no fixed max supply. Currently, there are 150,000,000 FLM tokens in circulation, but since Flamingo is a community-driven and democratic project, this limit can be increased if the stakeholders organized in the Flamingo DAO decide to add extra tokens to the supply.
The Flamingo token (FLM) reached its current all-time high of $1.24 on April 7th, 2021. Because of the relatively small supply of Flamingo, many experts are convinced that FLM is a good investment and that the price of the Flamingo token will continue to increase.
FLM Price Predictions for 2021
The crypto community is absolutely sure that the FLM price will continue to appreciate. In fact, most of the Flamingo price forecasts are extremely bullish.
According to a survey created by the Twitter user going by the name NFT Agent, the majority of crypto enthusiasts are convinced that the Flamingo price will reach anywhere from $5 to $10 by the end of the year:
What's your price prediction for Flamingo $FLM ??
— NFT Agent (@NFTraderOp) September 26, 2020
The survey depicted above seems to accurately reflect the predominant sentiment towards Flamingo among members of the Twitter crypto community. Most people seem to think that the FLM price will reach at least $5. The user Mevlynn has even commented that the $5 EOY target for Flamingo is inevitable:
$FLM 5$ EOY Is inevitable
— Mw (@Mevlynn) April 13, 2021
However, some people believe that the $5 FLM price forecasts are way too bearish. For example, the Twitter user Mr.PUMP is convinced that the Flamingo price will reach $11 by the end of the year.
BULLISH will keep pumping
JUNE prediction: $3
EOY prediction: $11
— Mr.PUMP (@destinymaker24) April 9, 2021
Flamingo (FLM) Price Forecasts According to Analysts and Experts
Technical analysts also think that Flamingo is a good investment. According to the popular channel Altcoin Central, the charts point out the fact that the Flamingo price is about to break through a significant resistance, which could potentially mean that FLM will reach $5 by the end of the year.
According to a very thorough and detailed Flamingo analysis posted by the channel HODL REKT, the FLM chart is looking very bullish. It seems like the next major price target for the FLM token will be around the $4.61 level, and surpassing it will almost definitely signify that Flamingo will reach $5 in 2021.
Where to Buy FLM Tokens?
Flamingo tokens can be purchased on a large number of exchanges including Binance, OKEx, and Hotbit. However, FLM tokens have not yet been listed on Coinbase.
Will Flamingo (FLM) Reach $5 In 2021?
Analysts and experts are very bullish when it comes to FLM price predictions. Many of them are convinced that the Flamingo price will reach $5 by the end of the year, while some believe that the FLM price may get even higher.
Is Flamingo a Good Investment?
Flamingo is a technologically groundbreaking project which combines multiple different DeFi use cases on a single platform. Since DeFi is a rapidly expanding market, it’s safe to say that the FLM price will continue to appreciate in the future and that the Flamingo token is a good investment.
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