FLOW has become the winning cryptocurrency of the week after the integration of its NFTs into the social network Instagram.
The price of FLOW, the native cryptocurrency of the Flow blockchain network, developed by Dapper Labs, has skyrocketed exponentially this week after Mark Zuckerberg's company Meta, which changed its name in November last year to focus on the metaverse , will announce the integration of the NFTs of this network into its social platform Instagram, which brings together more than 500 million active users per day, according to Website Rating data.
Flow is a high-performance, scalable blockchain that is designed to support the development of high-traffic decentralized applications, NFT projects, gaming and Web3 ecosystems, without compromising decentralization and security.
the block chain Flow is the first to integrate into Instagram, which is testing new NFT features alongside creators from 100 countries.
According to Meta, the popular social network will also offer support for other blockchains, such as Ethereum and the Polygon Network sidechain, soon.
It may interest you: Instagram adds support for Flow network NFTs
FLOW price rises more than 50%
FLOW is trading over $3 per unit at press time. The price of this cryptocurrency has skyrocketed by 50,4% in the last 7 days, following the announcement made by Meta and Instagram.
According to data from the CoinMarketCap platform, the Flow network's native cryptocurrency is trading above its highest peak seen this week.
Source: CoinMarketCap
The daily trading volume of this cryptocurrency has also skyrocketed more than 110% in the last 24 hours, surpassing the $414 million traded at press time. Data from cryptocurrency price monitoring platform also shows that FLOW was trading just over $75 million a day at the beginning of this month, putting the growth in weekly trading volume of this cryptocurrency over 550%. .
FLOW's market capitalization is 3.127 million at the close of this edition, which places it as the 28th most important cryptocurrency in the crypto ecosystem. Since last Monday, FLOW's market capitalization has increased by approximately 40%.
New ATH: 1,4 million weekly users
This week, Flow also set a new all-time high, reaching 1,4 million active users who carried out transactions on the network in the last 7 days.
As blockchain developers noted on Twitter, this represents a milestone for Flow, whose growth and adoption is being driven by growing institutional interest.
In addition to Meta, other large global companies such as Shopify, Mattel and YouTube, have chosen Flow as the place to create and develop their NFTs and Web3 projects and applications.
The National Football League (NFL) also partnered with Flow developer Dapper Labs last year to create its own NFT token marketplace.
The NBA play market, NBA Top Shot, is also developed on this blockchain, which has generated a sales volume of more than 1.280 million since its creation, according to DappRadar data.
Continue reading: Facebook will implement NFTs in user profile images
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