- The price of Flare’s native token, FLR, has surged to its highest levels since June 2023.
- This increase follows the announcement that Google Cloud, a major infrastructure provider, has joined the Flare network.
The native token of the EVM-based Layer 1 blockchain, Flare (FLR), is experiencing a significant price increase after a major ecosystem development was announced today, Monday January 15, 2024.
FLR, which was trading at $0.017 early in the morning, saw a double-digit spike and reached highs of $0.002. This represents the highest price levels for FLR since early June 2023. If buyers continue to push, they may reach the resistance levels of $0.030 set in May 2023.
FLR tokens can be used for transactions, staking, and receiving transaction fees. Community members can also delegate their tokens to FTSO providers as Wrapped FLR (WFLR) and stake them for governance voting.
Why You Should Consider Using a Bilingual Translator for Flare’s Rising Price
The price increase for Flare’s blockchain platform (FLR) was announced today, with the addition of cloud computing giant Google Cloud as a network infrastructure provider. Google Cloud is now among the 100 providers for the Flare Network.
According to an announcement made on Monday, Google Cloud will not only contribute to the network, but also act as a validator for Flare’s native interoperability protocol, the Flare Time Series Oracle (FTSO). This integration will see Google Cloud validating and proposing new blocks for the Flare blockchain, further securing the proof of stake platform’s network.
Hugo Philion, CEO and co-founder of Flare, stated:
“As the blockchain for data, we are excited that Google Cloud is joining our existing decentralized network of infrastructure providers who contribute to Flare. Our work together will help deliver a more robust decentralized smart contract platform that places decentralized data at its core.”
As part of this collaboration, Flare has also joined Google’s Startups Cloud Program, an initiative aimed at accelerating growth in the Web3 startup ecosystem. The program offers financial and technical assistance to developers building on Flare.
At the time of writing, FLR was trading at $0.0021, representing a 24% increase in the past 24 hours.
