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Highlights:
- Flow (FLOW) claims to be a high-speed, decentralized eco-friendly blockchain.
- The FLOW token is the native currency of the Flow network.
- CEO Roham Gharegozlou said “permissionless deployment” on the blockchain will start in July.
The Flow (FLOW) token on Friday surged around 33% from its all-time low of US$1.24 on June 18. It gained over 5% to US$1.65 in the past 24 hours to around 8:00 am ET.
The Flow blockchain was one of the participants at the four-day NFT NYC event that concluded in New York on Thursday.
On the last day of the event, Flow CEO Roham Gharegozlou announced that the company would start permissionless deployment on the blockchain in July.
The Flow blockchain, like other crypto projects, Cryptokitties, Dapper, and NBA Top Shot, were all created by Dapper Labs, whose aim is to introduce new forms of digital engagement globally.
Blockchain is the primary infrastructure where various crypto assets are based. Flow’s latest addition is Bobblz NFT, whose public minting went live recently.
Bobblz NFTs are hand-drawn, but only 1750 of them are available in the genesis drop.
Also Read: Why is layer-1 Stacks (STX) crypto grabbing attention?
In May this year, Dapper Labs announced US$725 million in joint funding to accelerate the Flow ecosystem’s growth. It plans to use the funds for token grants, incubator programs, gaming, and infrastructure development and boost its decentralized finance system.
Also Read: Why is The Sandbox (SAND) crypto rising?
What is Flow?
Flow is a high-speed decentralized eco-friendly blockchain. This layer-one blockchain lets developers create new games, apps and digital assets.
Flow is backed by a solid group of industry partners, including brands like Warner Music, NBA, NFC, Ubisoft, Animoca Brands, Sumo Digital, Binance, and OpenSea.
Its investors include Google Ventures, Andreessen Horowitz, Union Square Ventures, Venrock, Samsung, Coinbase, AngelList, and Zynga.
Also Read: Why is Cloud platform Storj (STORJ) crypto rising? Know details
Data Source: coinmarketcap.com
Also Read: Why is Dogelon Mars (ELON) crypto gaining attention?
FLOW coin:
The FLOW token is the native currency of the Flow network. Flow has 224 token holders. As per CoinGecko, the token is trading around 96% lower than its all-time high in April 2021.
Also Read: Why is Trust Wallet token (TWT) rising?
The FLOW token is used to make payments, participate in the network and protocol governance, earn rewards and as a long-term reserve asset.
Flow’s current market capitalization is US$1.7 billion.
Also Read: What is Tellor (TRB) crypto and how does it work?
Bottom line:
FLOW ranks 36th by market capitalization out of roughly 20,000 cryptos, as per Coinmarketcap. Its circulating supply is 1.04 billion out of the total supply of 1.37 billion.
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