Flock Token Soars 219% as Decentralized AI Gains Global Trading Momentum

Upbit, one of South Korea’s leading cryptocurrency exchanges, has announced the listing of Flock (FLOCK) on its platform, offering a KRW trading pair beginning on September 9 [1]. This move is expected to increase the token’s visibility and liquidity, particularly within South Korea’s cryptocurrency market [2]. The KRW trading pair enables direct transactions using the South Korean fiat currency, streamlining the trading process and potentially drawing a broader base of local investors to Flock [2].

The FLOCK token is native to the Base network, an Ethereum Layer-2 blockchain, and serves as a utility token within the Flock ecosystem, designed for use in decentralized AI development and training [3]. Flock emphasizes federated machine learning, where users can contribute local data and computing resources to train models while maintaining privacy and data ownership. Participants are rewarded with FLOCK tokens for their contributions, and the tokenomics model supports revenue sharing with model builders and incentives for validators and trainers [3]. The platform also introduces mechanisms such as slashing to deter malicious behavior, ensuring a secure and fair environment [3].

The announcement of Flock’s listing coincided with a listing on Coinbase, a major U.S.-based exchange, which further amplified the token’s market exposure. Following the Coinbase listing, FLOCK experienced a 15.38% increase, rising from $0.26 to $0.30 [4]. Meanwhile, the Upbit listing triggered a more dramatic price movement. On September 9, FLOCK’s price surged from $0.31 to $0.99, a 219.35% increase, marking a new all-time high [4]. At the time of writing, the price had settled at $0.50, representing an 84.37% appreciation since the listing [4]. The token’s trading volume also saw a significant boost, reaching $197 million, a 2,051.30% increase from the previous day, driven primarily by activity on Bithumb and Upbit [4].

The surge in FLOCK’s value reflects the broader trend of decentralized AI incentivized by blockchain-based tokens. Flock’s ecosystem is designed to encourage contributions of data, computational resources, and model innovation through on-chain crypto rewards [3]. By leveraging blockchain’s transparency and security, the platform aims to create a decentralized, collaborative AI development environment that reduces reliance on centralized data monopolies. In this system, smart contracts automatically distribute tokens to verified contributors, fostering a trustless and transparent network [3].

The combined listings on Coinbase and Upbit have not only highlighted Flock as an emerging asset but also underscored the growing role of decentralized AI in the crypto space. As the market continues to evolve, these listings represent a strategic move to enhance FLOCK’s liquidity and global reach. However, the rapid price increases observed immediately after the announcements also highlight the volatility inherent in altcoins, particularly those tied to emerging technologies and speculative trading activity [4].

Source:

[1] Upbit Unveils Exciting Flock (FLOCK) Listing: Your Guide to the New KRW Pair (https://intellectia.ai/news/crypto/upbit-unveils-exciting-flock-flock-listing-your-guide-to-the-new-krw-pair)

[2] Upbit to launch FLOCK Korean Won trading pair (https://www.odaily.news/en/newsflash/447196)

[3] The crypto incentive gold rush fuelling Web3 decentralised AI (https://www.flock.io/blog/the-crypto-incentive-gold-rush-fuelling-web3-decentralised-ai)

[4] Coinbase and Upbit Are Listing 2 New Altcoins Today (https://beincrypto.com/coinbase-upbit-list-flock-spx-altcoins/)