If they are active on instagram then why not, But for me the best media to monitor some updates are the telegram and twitter account of the project because most of the projects are commonly used these two.
I have never used instagram till now. Like it is mentioned, twitter and telegram are the best source of information from the project team. I thought its just me.
facebook and Instagram are not my things, I feel twitter is the best source for information regarding cryptocurrency project, the former are for gossiping