Flare prices surged sharply on Monday, with trading volumes rising 14% amid a 320% surge. FLR tokens have been won on the broader market, with Bitcoin, particularly over $95,000, being traded at a high of $0.019 amid a key integration of USDT0.
Flare (FLR), a blockchain protocol focused on interoperability, is currently experiencing a massive surge in prices.
According to data from CoinMarketCap, the FLR token surged over 15% to a high of $0.019, climbing along a staggering 320% spike in a 24-hour trading volume.
The FLR traded nearly $0.018 at the time of writing, but rose 14% in 24 hours, with daily trading volumes exceeding $31.2 million.
Flare Charts by CoinMarketCap
Why does flares cost more?
One factor likely driving Flair’s impressive price movement in the past day and recent weeks is the benefits of the broader cryptocurrency market.
When Bitcoin broke over $90,000, most tokens rose – now looking at $100,000, over $95,000.
The growing optimism in global financial markets has helped, with stocks increasing as investors predict strong corporate revenues, trade transactions and economic recovery.
The crypto market, which often correlates with risk-on sentiment, benefits from this wave of optimism. However, flare rally is not just a by-product of market-wide trends.
A key development of the protocol is the recent integration of Tether’s USDT Stablecoin.
Flare announced on Monday that USDT0 is live on the platform and will offer fast, safe, gas-free transfers with deep fluidity.
Why is USDT0 integration key?
Featuring Layerzero’s Omnichain Fungible Token (OFT) standard, the integration unlocks Flare’s ecosystem, particularly XRPFI (XRP-based decentralized finance) liquidity over $140 billion.
The move, which supported Tether’s 1:1 USDT, positions Flair as the key player for Stablecoin and Defi Space, attracting investors and developers alike.
“USD₮0 helps to adopt real-world stubcoin adoption with flares by solving one of the industry’s biggest challenges – one of the industry’s biggest challenges. said Lorenzo R, co-founder of USDT0.
FLR Price Prediction:
Flare prices have skyrocketed over 38% in the past month.
However, FLR is down more than 75% from its all-time high of nearly $0.08, which reached January 2023.
Despite a slight drop from the midday highs amid the potential for profit, volume spikes and price lurries suggest that the flare price can be seen on another foot.
Cryptocurrency is trending alongside Top Altcoin Gainers Virtual Protocol, Deepbook and Monero, earning double-digit profits over the last 24 hours. Nexo Price also surged on Monday as Crypto Lender announced a US reboot.
