Flow Blockchain TVL Hits Record $68 Million on Disney NFT Push

Flow blockchain recorded its strongest quarter to date, with total value locked climbing to an all-time high of about $68 million in the three months to June, up 46% from the previous quarter, according to a new Messari report. The network’s DeFi resurgence coincided with a 473% jump in smart-contract deployments, while stablecoin supply expanded 29.5%, driven largely by PayPal’s PYUSD.

Operational metrics improved sharply after the March rollout of the Crescendo upgrade, which brought Ethereum Virtual Machine equivalence and new liquidity bridges. Average daily transactions have risen 602% since integrating LayerZero, Messari said. Momentum was further bolstered by a partnership between Disney Pinnacle and Disney+, giving the streaming service’s roughly 50 million subscribers access to monthly non-fungible tokens minted on Flow. A second upgrade, dubbed Forte, is slated for October and is expected to add additional scaling features.

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