Welcome back to the Flow Overview. Every month, we dive into the Flow ecosystem developments to bring you up to speed on the latest updates, metrics, insights and more.
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The State of Flow
$FLOW: $0.092 (-56.3%)
Flow total value locked (TVL): $44.25M (-54.7%)
Flow DEX Volume: $34.89M (-23.9%)
Flow Stablecoin Market Cap: $18.88M (-50.6%)
These metrics are accurate upon publication. The percentages are based on month-over-month change, unless noted otherwise.
What Caught Our Eye This Month
The Flow blockchain recorded a record, 24-hour high of 2.1M transactions on Dec. 5, indicating that user engagement on the application-level is increasing.
Top Shot’s Secret Santa campaign saw 42.5K moments gifted to users. This was a limited-time gifting initiative that allowed users to send NBA Top Shot Moments directly to other participants.
Flow experienced a security incident on Dec. 27, where an execution-layer vulnerability was exploited. The team said existing user balances were unaffected. As of Jan. 2, the incident was resolved and the blockchain was fully operational.
Go with the Flow
🌊 What happened: December saw Flow’s NFT ecosystem continue to gain momentum despite broader market headwinds. Overall NFT sales on Flow rose 16% in the past 30 days to $7.46 million.
🌊 Why it matters: Leading the charge was Beezie Collectibles, which hit $2.4M in sales throughout December, up 54% from a month earlier. The three days leading up to Christmas saw more than $200,000 each in sales volume.
Meanwhile, Fan Craze surged 197% in the month to $1.5 million. The collection posted a record single-day volume of $402,900 on December 13.
An increase in volumes during the holiday season is notable given that many major NFT platforms experienced declines during the same period: Ethereum’s NFT sales fell 22% to $95 million in December, while Mythos dropped 23% to $23.7 million.
🌊The big picture: Despite broader market declines, Flow’s continued growth highlights the network’s ability to maintain transactional activity and engagement in a challenging environment. While the growth wasn’t dramatic, it does show that the network is sustaining liquidity and transactional throughput for NFTs, a core indicator of ecosystem health.
What’s Flowin’ through the ecosystem?
Diving into the biggest announcements, developments and more happening within the Flow.
In the third quarter, Flow’s network TVL increased 53% to $104M, and liquid staking tokens rose 93%
Beezie partnered with OpenSea to give out 2.5K claw machine vouchers as part of its XP rewards campaign
Listen to Dapper Labs’ CEO, Roham Gharegozlou, and its Chief System Architect, Dieter Shirley, speak about its focus on consumer DeFi
Disney Pinnacle released its Disney Holiday Vol.1 Open Event Edition digital pin set
Kitty Punch’s Flow DEX saw its TVL rise 20% throughout December to $40.3M
Flow Swap surpassed $10M in TVL; 74% of that growth came in the past week
MORE Markets is upgrading from the USDF stablecoin to PYUSD, to provide greater liquidity to its lending aggregators and bridges
Follow the community’s Flow
Want to build on Flow? Visit the developer portal for more info on documentation and tools. Or go further down the Flow rabbit hole:
Flow is hiring: check out all the open positions here
Follow Flow and visit their website to explore additional opportunities
Join the waitlist for Flow’s Peak Money payments app
Catch you next month.
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.