Meta's NFT Outreach Powers 38% Rally in FLOW Token

Flow blockchain's token rallies 38% as Meta adds support for NFTs created on the blockchain. Reports godbole17

a $725 million fund to boost “gaming, infrastructure, decentralized finance, content and creators” in the Flow ecosystem.

FLOW's price rally is backed by a triple-digit jump in futures open interest across major exchanges, including Binance, according to data tracked by coinglass. Open interest refers to the number of contracts traded but not squared off with an offsetting position.An increase in open interest means more money is being deployed in the FLOW market and validates the price rally.

FLOW has topped its 100-day simple moving average , leaving both bitcoin and ether behind, which continue to trade below the key SMA. However, the bigger downtrend is still intact as seen in the chart below.Read more about

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