The Flow token jumped in price by 103% on exchange Coinbase after the Meta company (recognized as extremist and banned in Russia) announced the integration of the Flow blockchain and the CoinbaseWallet crypto wallet into Instagram (the social network was recognized as extremist in Russia, banned and blocked). The price of the coin rose from $1.86 to $3.79 within an hour and a half, then dropped to $2.65 and stabilized at this level. RBC Crypto.
Flow is a high-speed, decentralized blockchain built to support NFTs and large-scale crypto games. The project’s eponymous token currently ranks 31st among cryptocurrencies in terms of market capitalization — over $2.7 billion — with a daily trading volume of $904 million, according to Coingecko.
Despite the latest jump in quotes, the Flow token is 93.7% cheaper than on April 5, 2021, when the price of the coin reached its maximum of $42.4.
Back in December last year, Instagram CEO Adam Mosseri revealed that the company was exploring the possibility of using non-fungible token technology. And in May, the social network began testing NFTs.
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