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FLOW soars after Instagram expands Flow Blockchain NFTs to more than 100 countries

on Aug 5, 2022
  • The value of the FLOW soared by 60%, and its trading volume increased by 2,395%.
  • Flow Network was added as Meta rolled out the Instagram NFT initiative in over 100 countries.
  • They enabled users that interact with the application to mint Flow NFTs, which leads to higher utility.

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Flow (FLOW/USD) is a high-performing blockchain network that was developed to facilitate the process of non-fungible token (NFT) creation, alongside giving utility to GameFi as well as decentralized applications (dApps).

Flow stands out due to the fact that it is built to scale for billions of people on a global scale that interact with NFTs in the form of in-game items, for example.

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The Instagram NFT expansion to over 100 countries as a catalyst for growth

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On August 4, 2022, the Instagram Creator’s page published a blog post titled “Bringing Digital Collectibles to More People.”

Within the blog post, Instagram outlines that they are starting an international expansion to 100 countries in Africa, Asia-Pacific, the Middle East, and the Americas.

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In addition to this wider reach, Instagram has incorporated the Flow blockchain into the proceedings by enabling those that interact with the application to mint NFTs on Flow. 

The key supported blockchains for the process of minting NFTs include Ethereum (ETH), Polygon (MATIC), and Flow (FLOW).

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All of this has led to a huge surge in the value of FLOW, with a 60% increase in value and a 2,395% increase in its trading volume.

Should you buy Flow (FLOW)?

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On August 5, 2022, Flow (FLOW) had a value of $2.936.

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To see how far the cryptocurrency can climb up in value, we will be going over its all-time high point of value, as well as its performance throughout the previous month.

Flow (FLOW) reached its all-time high on April 5, 2021, at a value of $42.40.

When we look at the performance throughout the previous month, Flow (FLOW) had its lowest point of value on July 13, 2022, at $1.4107.

Its highest point was on July 20 at $2.0848. This marked an increase in value of $0.6741 or 47%.

With this in mind and its current level of growth, we can expect FLOW to climb to $5 by the end of August 2022, making it a solid buy.

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