Investing.com – Blockchain has seen its token price explode this week by more than 60%. The crypto contrasts with the rest of the market which remains relatively gloomy, especially with a very average performance for .
Indeed, Flow benefited from its adoption by Meta (NASDAQ: ), formerly Facebook, for its Instagram social network. The move comes as part of the company’s efforts to expand its NFT program on Instagram.
Instagram has thus expanded its NFT program to more than 100 countries and will enable the use of NFTs created on the Flow blockchain. This news could not only sustain the uptrend in the price of cryptocurrencies but also provide more volume by encouraging the release of NFTs on this platform.
Moreover, the unexpected surge could direct capital flows into Flow as investors remain unhappy as the crypto market is sorely lacking in investment opportunities. In this regard, the Flow blockchain has seen a significant increase in the number of addresses holding its tokens since the announcement of its inclusion in Instagram due to the influx of investors.
It should be noted that the entire crypto market has been suffering from investor risk aversion ever since the US Fed started tightening its monetary policy to fight inflation.
