Flare Network (FLR) soars, market capitalization exceeds $1 billion due to partnership with Google Cloud

9 months ago 66

Aiming for record high prices

The cryptocurrency Flair (FLR), which was airdropped to XRP holders in the early stages with the support of Ripple, has seen a 30% increase in price over the past week compared to the previous week.

The currency is the native token of Flare Network, an EVM-compatible blockchain project, and is trading at 4.4 yen ($0.031) near the top resistance level.

Source: CoinMarketCap

As FLR price surged, trading volume also increased significantly, registering a 154% increase in the past 24 hours. Due to this incredible growth, Flare’s market capitalization has finally surpassed the $1 billion (140 billion yen) mark. Currently, the FLR price is in an uptrend and is moving towards the all-time high (ATH) of $0.045 (5.45 yen) recorded on January 10th last year.

After bottoming at $0.0087 (1.24 yen) in October 2023, the FLR token has resumed its upward trend, raising expectations among XRP holders that it will reach new highs again.

connection:Google Cloud joins Flare network, FLR price rises over 32% from the previous day

Google Cloud partners with Flare

On January 15, 2024, Google Cloud announced a partnership with Flare. Through this partnership, Google Cloud will provide Flare’s infrastructure, helping to improve network functionality and reliability.

As part of the Flare Network, Google Cloud will play a key role in the new block proposal and validation process, working with Flare’s proof-of-stake (PoS) consensus process to help strengthen network security.

According to on-chain data analysis, the total amount of assets locked within the DeFi ecosystem, particularly on Flare Network, exceeds $7 million, the highest since October. Leading the trend in the Flare TVL market are decentralized exchanges Pangolin and Enosy.

connection:SBI VC Trade adds Flare (FLR) to staking service, first in Japan