Flow continues to cross non-fungible token (NFT) milestones after reaching new landmarks to become one of the top five biggest blockchains by all-time sales volume.
Flow is one of the most popular blockchains when it comes to taking a stake in digital collectibles since the platform was created with the sole purpose of creating scalable and low-cost NFTs. According to Be[In]Crypto Research, Flow had a total sales volume in the region of $1.06 billion, as of June 5.
This comes as a massive boost to Flow after its native asset, FLOW, fell steeply in the market crash of May, erasing 50% of the coin’s price.
This milestone has placed Flow in fourth place behind Solana, Ronin, and Ethereum. With that said, Flow is above Polygon, WAX, Avalanche, Immutable X, Palm, Tezos, Panini, and Binance Smart Chain (BSC).
What caused soaring Flow sales volume?
When you observe the rise in the number of unique buyers from January 2021, the growth in sales led to the chain’s increasing total transaction counts, with 19,185 unique buyers and 505,572 transactions. By the end of January, Flow sales volume was approximately $40.55 million.
Unique buyers spiked by 321% from January to 80,822 in February 2021.
This month also proved to be Flow’s all-time high in monthly sales volume. Flow recorded sales of around $224.07 million.
Most of the sales came from one of the biggest selling NFTs, NBA Top Shot. Other NFTs that contributed to this milestone include NFL ALL DAY, BALLERZ, Matrix World, UFC Strike, Evolution (Ben Mauro), Flunks, and Flovatar.
Other months that made remarkable contributions to Flow sales volume include March ($209.68 million), April 2021 ($83.04 million); January ($61.93 million), and February 2022 ($57.49 million).
FLOW price reaction
FLOW opened on Jan. 1, 2022, at $8.80, reached a yearly high of $9.44 on Jan. 2, and tested a yearly low of $2.31 on May 27. FLOW was exchanging hands for $2.60 at the time of writing. Overall, this equates to a 73% in the price of the coin throughout 2022.
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In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.