Flow Token From Dapper Labs Soars After Binance Listing

The token began the day at $18.26 and climbed to $27.56 after the announcement from Binance, according to data from Messari.

AccessTimeIconJul 30, 2021 at 1:32 p.m. UTC
Updated Sep 14, 2021 at 1:33 p.m. UTC

Flow, a token powering a blockchain network focused on non-fungible tokens (NFT), surged in price after the big cryptocurrency exchange Binance said Friday it would list the project.

Binance said at 7:00 UTC (3 a.m. ET) that it would list the FLOW token; 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, the company behind the CryptoKitties blockchain game and NBA Top Shot, which allows fans to buy, sell and trade officially licensed video highlights of National Basketball Association moments. 
  • Flow’s rally after Binance’s announcement could be a sign 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.

Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.