FLOW seems to be riding high on the wave of the announcement involving Meta’s partnership with Flow blockchain.
FLOW was trading at about £1.53 on August 4 when the news first surfaced. However, it quickly rose to £2.45 on the charts.
In a recent release, Meta said that Flow NFTs would soon be available on Instagram, its sister platform. Along with Ethereum and Polygon, Flow blockchain will be one of the first to get support from Meta. This is a big feat for Flow as it makes its entry into the digital asset market.
Collectors can display their authenticated Flow NFTs on their accounts on Meta’s photo-sharing platform thanks to Instagram’s NFT integration. According to the announcement, after being introduced in the United States in May, the feature has now been expanded to more than 100 nations. Instagram, with its more than two billion daily users, will offer a massive platform that could result in the widespread adoption of Flow.
But it doesn’t stop there. It was reported that Bitrue had started yield staking on its platform using FLOW.
The Flow community has consequently welcomed the news with great enthusiasm as blockchain activity has increased. In a social media update, Lunar Crush reported that Flow has reached an all-time high for social contributors with a figure of 2.62k. Additionally, there has been an increase in paid social mentions and engagements.
The impact can also be seen on FLOW’s social dominance chart. The metric crossed well over the FLOW weekly average.
There has undoubtedly been a major increase in this metric after the recent development. Online discussions about Flow are primarily focused on the blockchain’s growth.
Even though the news is undoubtedly significant at this point, FLOW has struggled to sustain the momentum. The altcoin dropped 5.45% over the past 24 hours to reach £2.20 at the time of writing.
Since volumes also decreased by a startling 71%, the abrupt slowdown was also seen on that front. It remains to be seen if FLOW can emerge stronger from this pump.