Flow token from dapper labs soars after binance listing
|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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.