{"id":481172,"date":"2022-08-04T21:03:46","date_gmt":"2022-08-04T18:03:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/insta-rally-flow-token-jumps-50-amid-instagram-adoption-euphoria\/"},"modified":"2022-08-04T21:03:46","modified_gmt":"2022-08-04T18:03:46","slug":"insta-rally-flow-token-jumps-50-amid-instagram-adoption-euphoria","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/insta-rally-flow-token-jumps-50-amid-instagram-adoption-euphoria\/","title":{"rendered":"# Insta-rally! FLOW token jumps 50% amid Instagram adoption euphoria"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a34cc40ee9ef\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a34cc40ee9ef\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/insta-rally-flow-token-jumps-50-amid-instagram-adoption-euphoria\/#%E2%80%9D_Insta-rally_FLOW_token_jumps_50_amid_Instagram_adoption_euphoria_%E2%80%9C\" >&#8221; Insta-rally! FLOW token jumps 50% amid Instagram adoption euphoria &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/insta-rally-flow-token-jumps-50-amid-instagram-adoption-euphoria\/#Insta-made_FLOW_rally\" >Insta-made FLOW rally<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/insta-rally-flow-token-jumps-50-amid-instagram-adoption-euphoria\/#Another_30_gains_ahead\" >Another 30% gains ahead?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Insta-rally_FLOW_token_jumps_50_amid_Instagram_adoption_euphoria_%E2%80%9C\"><\/span>&#8221; Insta-rally! FLOW token jumps 50% amid Instagram adoption euphoria &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Flow (FLOW) logged its best daily performance on Aug.4 after becoming the latest blockchain to support Instagram&#8217;s nonfungible token (NFT) features.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Insta-made_FLOW_rally\"><\/span>Insta-made FLOW rally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meta CEO Mark Zuckerberg <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/zuck\">announced<\/a> on Aug. 4 that Instagram had expanded its NFT support to 100 more countries\u00a0in Africa, the Asia-Pacific, the Middle East and the Americas. As a result, more users can post digital collectibles minted on the Flow blockchain on Instagram.<\/p>\n<p>The high-profile integration helped FLOW surge 54% to reach an intraday high of $2.83 a token. Interestingly, the token&#8217;s massive upside move accompanied a spike in its daily trading volumes, confirming some weight behind the bullish trend.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/a862c4bc-14f9-4cd5-8ec5-6462581e5702.png\"><figcaption style=\"text-align: center;\"><em>FLOW\/USD daily price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Like any blockchain native asset, the ups and downs in FLOW&#8217;s demand are tied to the adoption of its parent chain. In <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>, FLOW serves as a legal tender within the Flow&#8217;s proof-of-stake ecosystem for the following purposes:<\/p>\n<ul>\n<li>Staking<\/li>\n<li>Staking rewards<\/li>\n<li>Transaction fees<\/li>\n<li>Account storage deposits<\/li>\n<li>Collateral for a stablecoin and DeFi products<\/li>\n<li>Participation in protocol governance and ecosystem development<\/li>\n<\/ul>\n<p>That explains the token&#8217;s bullish response to Instagram&#8217;s adoption.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Another_30_gains_ahead\"><\/span>Another 30% gains ahead?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>From a technical perspective, FLOW eyes another 30% rally from its current price levels.<\/p>\n<p>FLOW&#8217;s recent price trends <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to have painted a bullish pattern called the &#8220;Bump-and-Run-Reversal (BARR) bottom&#8221;\u00a0on its daily chart. Now, the token has entered a breakout stage with its upside target near the level where the BARR bottom&#8217;s formation began at around $3.20.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/617c06da-2e56-4865-ba15-dc959af684a9.png\"><figcaption style=\"text-align: center;\"><em>FLOW\/USD daily price chart featuring BARR setup. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>According to veteran analyst Tom Bulkowski, BARR patterns are &#8220;surprisingly good performers,&#8221; with a 76% chance of meeting its profit target. That raises FLOW&#8217;s potential to rise another 30% to $3.20, further supported by strong fundamentals.<\/p>\n<p><strong><em>Related:\u00a0&#8216;Metaverse is a change that&#8217;s been happening for 20 years&#8217;: Q&amp;A with Forbes 30 under 30 entrepreneurs and investor in 300+ crypto startups<\/em><\/strong><\/p>\n<p>On the flip side, FLOW&#8217;s latest bull run has pushed its daily relative strength index (RSI) above 70, or overbought territory, which suggests heightened sell-off risks.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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FLOW token jumps 50% amid Instagram adoption euphoria &#8220; Flow (FLOW) logged its best daily performance on Aug.4 after becoming the latest blockchain to support Instagram&#8217;s nonfungible token (NFT) features. Insta-made FLOW rally Meta CEO Mark Zuckerberg announced on Aug. 4 that Instagram had expanded its NFT support to 100 more countries\u00a0in Africa,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":481173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvZTg5OTcyY2YtMTU1ZC00MGM4LWE2ZDMtYzE4MDk2NmFkYmFmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74939,122306,74876,78261,33423,5077,73785],"class_list":["post-481172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-market-analysis","tag-meta","tag-proof-of-stake","tag-tech-analysis","tag-instagram","tag-mark-zuckerberg","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=481172"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/481173"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=481172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=481172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=481172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}