Flare price pumps 25% amid explosive DeFi growth: is a new ATH next? – Crypto News – Crypto News
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Flare price pumps 25% amid explosive DeFi growth: is a new ATH next? – Crypto News

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  • Flare price rose sharply as altcoins continued to steer bullish with Ethereum, XRP and Solana up.
  • The FLR token was up 25% as bulls pushed from lows of $0.02089 to highs of $0.02722.
  • With DeFi and broader market resilience, Flare could target a new all-time.

The cryptocurrency market continues to trend bullish as top altcoins see gains, but not many can match Flare (FLR)’s explosive 25% outperformance in the past 24 hours.

FLR’s gains dwarf those of key 24-hour performers Pudgy Penguins, Worldcoin and PancakeSwap.

The token traded around $0.2702 at the time of writing, with daily volume up 457% to over $98 million.

Open interest on Coinglass showed a 35% increase to $11.8 million.

Flare price: is FLR poised for a new peak?

As Ethereum holds firm above $3,600 and Solana consolidates gains above $200, renewed optimism has emerged around Flare (FLR).

FLR has surged from intraday lows of $0.02089 to as high as $0.02722, marking one of the strongest performances among major cryptocurrencies.

The rally has pushed Flare into the 57th spot by market capitalisation, placing it among the top gainers within the 100 largest digital assets.

With total value locked, transaction volume and overall DeFi growth on the uptick, is this spike in FLR price the beginning of a major flip to a new all-time high?

Per data from CoinMarketCap, Flare reached the all-time peak of $0.0797 in January 2023.

Flare price chart by CoinMarketCap

FLR price is up nearly 50% in the past week and 63% in the past month.

Much of the enthusiasm and bullish forecasts for Flare are down to the project’s innovative DeFi approach.

Asset bridging has caught the market’s attention with recent integrations and mega incentives.

DeFi on Flare gains traction

Flare’s latest price pump comes in a month where the project unveiled a massive $2.2 billion incentive program for its FAssets.

The target is explosive growth in Flare’s DeFi share with cross-chain liquidity and TVL.

Interest has also jumped amid the integration of XRPFi, a DeFi initiative targeted at tapping into XRP on the network.

This is what Firelight, a key protocol on the Flare network, has introduced to early success.

As XRPFi takes root, tokens such as stXRP, a liquid staking token that allows users to earn yields while maintaining liquidity across DeFi platforms, are gaining traction.

Institutional interest is also growing. One such big move is VivoPower.

The Nasdaq-listed company recently announced a $100 million XRP deployment on Flare with the aim of generating yield.

“Flare isn’t just for institutional XRP holders like VivoPower, it’s also powering platforms like Uphold that serve millions of everyday users. With Flare’s yield strategies, they can offer simple, opt-in XRP staking — no DeFi expertise required. That’s the kind of simplicity we’re aiming for,” Flare wrote on X

Momentum across the Flare network has seen its TVL surge triple digits to near $200 million. SparkDEX, Kinetic and Sceptre Liquid are key protocols on the network.
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