Key Takeaways:
Flare Network’s native FLR token gained 14% on May 15, rising as the protocol activated a key upgrade designed to seamlessly bridge XRP liquidity into its decentralized finance ecosystem.
The FAssets v1.3 upgrade, which went live at approximately 15:31 UTC, allows users on exchanges like Binance and Kraken to mint Flare’s DeFi-ready FXRP token in a single transaction, according to a company announcement.
The move eliminates a complex multi-step process that previously limited adoption. The rally saw FLR lead gains among major altcoins, happening as total crypto futures volume rose 14% to $220 billion over 24 hours, CoinGecko data shows. The gains stood in contrast to Bitcoin, which traded around $80,592, stuck below its 200-day simple moving average of $82,228.
This upgrade is a critical part of Flare's broader strategy to increase network utility and capture value. It follows a tokenomics overhaul under FIP.16 that cut FLR inflation by 40% and, as crypto.news reported, similar past upgrades that lowered friction for XRP capital have historically preceded sustained volume growth. Other altcoins also saw gains, with Hyperliquid's HYPE token rising 16% and Unibase's UB adding 11% in the same 24-hour period.
This article is for informational purposes only and does not constitute investment advice.
