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Flow Token Rises Upon Binance Listing

Altcoins

www.coindesk.com 30 July 2021 14:15, UTC
  
Reading time: ~2 m

Flow, a token powering a blockchain network focused on non-fungible tokens or NFTs, surged in price after the big cryptocurrency exchange Binance said Friday it would list the project.

Binance said at 7:00 UTC that it would list the flow (FLOW) token, and since then, the price has rallied to $29 from $18 – a 61% rise. On a 24-hour basis, the cryptocurrency is up 30%.

  • The token began the day at $18.26 and climbed to $27.56 after the announcement from Binance, according to data from Messari. 
  • FLOW's market value jumped to $1.23 billion.
  • Flow is a blockchain built to support gaming applications and digital assets. 
  • The ecosystem is a product of Dapper Labs, which is the company behind the CryptoKitties blockchain game. 
  • NBA Top Shot also runs on the Flow blockchain and allows fans to buy, sell and trade officially-licensed video highlights of NBA moments. 
  • Flow’s rally after Binance’s announcement might show that the market still sees the exchange as a major player, despite recent regulatory crackdowns. 
  • Binance is still the leading crypto exchange in terms of spot and derivative market volumes and futures market open interest. 
  • So the listing could provide access for a larger swath of traders to buy or sell the FLOW token.
Read more: Binance to Wind Down Derivatives in Europe; Malaysia Orders Closure

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