Flare (FLR) will rise significantly after Google Cloud integration
The price of Flare (FLR) rose on Monday to reach a new high seen at the end of June 2023. Flare gains after Google Cloud announced it was joining the network as an infrastructure provider.
The EVM-based Layer 1 blockchain Flare (FLR) native token is on the rise after a major ecosystem development was announced today, Monday, January 15, 2024.
After trading at a low of $0.017 earlier in the day, FLR rose by double digits to $0.023. The incremental FLR was last seen at a rate of early June 2023. If the upside continues, buyers may target the May 2023 resistance level above $0.030.
The FLR token is a utility token used for payments, transaction fees and shares. The community may be delegated to FTSO data providers as a Wrapped FLR (WFLR). These can also be used to vote for management.
Why are flare prices increasing?
Today's price increase comes after Flare's (FLR) blockchain platform announced that cloud computing giant Google Cloud has joined its network as an infrastructure provider. Google Cloud is now among the top 100 Flare network infrastructure providers.
According to an announcement published on Monday, Google Cloud will act as a network authenticator and also contribute to Flare's native interoperability protocol – Flare Time Series Oracle (FTSO). The integration will see Google Cloud Propose and approve new blocks on the Flare blockchain, helping to ensure the authentication of the stock platform network.
Flare co-founder and CEO Hugo Filion said:
“As a data blockchain, we are pleased to contribute to Flare by joining Google Cloud's existing network of decentralized infrastructure providers. Our work together will help deliver a more robust decentralized modern contract platform that puts decentralized data at the core.
As part of the partnership, Flare has joined the Google for Startups Cloud Program, an initiative aimed at accelerating growth in the Web3 startup ecosystem. The program provides financial and technical support to developers building on Flare.
The price of FLR was trading at $0.021 at the time of writing, up about 24% in the last 24 hours.
