Flow token rises by 62% following Instagram’s integration news

The value of the asset rose from $1,84 to $2,98 per day, according to Binance

05.08.2022 - 13:10

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What’s new? The rate of the native token of the Flow blockchain rose by 62% after representatives of the social media Instagram announced the collaboration with the project. The price of the asset rose from $1,84 to $2,98. As of August 5, 12:25 UTC, FLOW is trading at $2,73, according to cryptocurrency exchange Binance.

Instagram’s announcement

Flow is a decentralized, high-speed blockchain designed to support a new generation of games and applications, as well as digital assets that power their operation. The FLOW token is used by validators, developers, and users to receive rewards, pay, and participate in protocol governance. The asset ranks 30th in the ranking of cryptocurrencies by market capitalization with a figure of $2,9 billion, according to CoinGecko.

Details of the collaboration. On August 4, the Instagram team made the NFT posting feature using a digital wallet available to users from 100 countries, and also added support for non-fungible tokens issued on the Flow blockchain. The platform also supports Ethereum and Polygon blockchains, MetaMask, Trust Wallet, Coinbase Wallet, Dapper, and Rainbow wallets.

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