FLR Rockets 51% On Flare 2.0 Upgrade Frenzy
FLR soared over 51% during the day to a high of $0.0167 as the market reckoned with hype ahead of highly expected upgrade by Flare Network, Flare 2.0. The rally saw its market cap spike above $927 million, as trading volume swelled 622% to $52.5 million. Open interest in FLR futures rose 50% as well, a sign of bullish conviction.
What Is Flare 2.0?
According to Flare’s official statement, Flare 2.0 is built to push the network’s consensus layer forward by scaling it across multiple chains. Central to this upgrade is “Protocol Managed Wallets,” intended to enable protocol-level asset management on blockchains—without reliance on conventional bridges.
Proposed use cases are:
- Assets V2: Onboarding tokens like BTC, XRP, and DOGE into DeFi with no bridge risk.
- XRP Staking: Enabling XRP holders to earn yield on Flare-based services.
No official launch date has been made, but early market buzz suggests strong anticipation.
Trader Sentiment Turns Bullish
The FLR rally was also followed by a sharp increase in social metrics. Google Trends showed increased search interest in FLR, and Santiment data showed an increase in weighted social sentiment—typically a precursor to more gains to come.
Macro Tailwinds Power the Rally
FLR price momentum was also fueled by improved macro sentiment. The U.S. administration shelved aggressive tariff policies for three months and reduced reciprocal tariffs to 10%, improving investor mood.
Total crypto market responded positively, with overall market cap gaining 5% to $2.68 trillion. Altcoins such as Ethereum, XRP, Solana, and Dogecoin registered gains of between 7% and 10%.
FLR Technical Outlook: Breakout in Progress
On the charts, FLR broke out above the upper boundary of a downtrending parallel channel it had been wedged in since December. Breakouts of this type usually lead to extended gains.
- MACD: Trend-reversal bullish crossover
- RSI: Above 50, reflecting building buying pressure
The bulls’ next goal is the yearly high at $0.0314. A breakout above there would position the $0.035 resistance level—last tested in December—to enter the picture.
However, upon a slide below the lower edge of the pattern, price is likely to propel FLR back towards the $0.012–$0.011 support zone.
