Flare Network Price
(FLR)
USD($)
Flare Network (FLR) Live Price Chart
Overview
About
Analysis
FAQ
Flare Network Live Price Data
The live price of Flare Network is $0.02527, with a total trading volume of $ 682,846 in the last 24 hours. The price of Flare Network changed by -2.5% in the past day, and its USD value has decreased by -0.97% over the last week. With a circulating supply of 55.00B FLR, the market cap of Flare Network is currently 1.35B USD, marking a --% increase today. Flare Network currently ranks #54 in market cap.
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Note: This data is for reference only.
Flare Network(FLR) Profile
Rank54
BExpand 
Website
Documentation
Explorer
Contract
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Audited By
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Code & Community
Investors
- Digital Currency Group
- LD Capital
$0.02452
$0.02601
- ATH
- $0.07958
- Price Change (1h)
- +1.56%
- Price Change (24h)
- -2.50%
- Price Change (7d)
- -0.97%
- Market Cap
- $1.35B
- 24h Volume
- $682,846
- Circulating Supply
- 55B
- Max Supply
- 100B
About FLR
How can I buy Flare Network (FLR)?
Buying FLR on KuCoin is fast and simple. Create an account, verify your identity, deposit funds, and start your trading. It's that simple! See How to Buy Flare Network (FLR) for more information. What Is Flare Network (FLR) Crypto?
Flare Network (FLR) is a Layer-1 blockchain that utilizes the Ethereum Virtual Machine (EVM) and aims to promote interoperability between various networks. The network comprises two open native interoperability protocols: the State Connector and the Flare Time Series Oracle (FTSO). These protocols enable the development of a wide range of off-chain data applications on the network.
The State Connector allows for decentralized consensus on the state of external blockchains, making it possible to capture external blockchain data on the chain. This creates a secure and efficient way to access data from other networks.
On the other hand, the FTSO is a decentralized oracle for time-series data, such as asset prices and data indices. By providing access to reliable off-chain data, the FTSO enables the creation of applications that require accurate and real-time information.
FLR is the native token of the Flare Network and plays a crucial role in the network's operations. It is used for native payments, spam control, governance, and as collateral within applications. With its interoperability and native token, the Flare Network aims to create a robust and efficient ecosystem for decentralized applications (dApps).
How Does Flare Network Work?
The State Connector allows for decentralized consensus on the state of external blockchains and enables the on-chain acquisition of external blockchain data. This is achieved through two core protocols, the Request-Commit-Reveal (RCR) and the Branching protocol.
The RCR protocol collects user requests and proofs regarding blockchains, while the Branching protocol allows the network to accept or reject these requests. Using these two protocols, the Flare Network provides an open and decentralized means of connecting multiple blockchains, leading to increased interoperability.
The Flare Time Series Oracle (FTSO) is a decentralized oracle for time-series data, such as asset prices, data indices, etc. The FTSO allows the network to retrieve real-world data and use it in the execution of smart contracts.
The oracle provides incentives for data providers to submit information, which is then verified by a network of validators. The decentralization of the FTSO ensures that the data fed into the network is reliable and transparent, allowing the Flare Network to utilize off-chain data securely and trustworthily.
The native token of the Flare Network, FLR, is used for various functions, including native payments, spam control, governance, and as collateral within applications. The token serves as a medium of exchange and store of value within the network, and its utility ensures that FLR is an integral part of the Flare ecosystem.
Background and History of Flare Network
The Flare Foundation, a non-profit organization founded by Hugo Philion, Sean Rowan, and Dr. Nairi Usher, supports the network and its ongoing operations. Their activities aim to ensure that the Flare Network remains stable and secure and is continuously developed to meet the needs of its users.
The Flare Foundation has a wide-ranging scope of responsibilities, including supporting the network’s traction and ongoing operations through various activities such as grants, investments, partnerships, research and development, engineering, marketing, proposals, and implementation of governance, community, and developer relations. The foundation's activities aim to ensure that the Flare Network remains stable and secure and continues to evolve to meet the needs of its users.
The Flare Foundation also promotes using the Flare Network to support decentralized finance (DeFi) and other blockchain applications. The network's interoperability features enable DeFi applications to interact with other blockchain networks seamlessly.
Flare Network (FLR) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $-0.00067 | -2.58% |
| 7 Days | $-0.00043 | -1.67% |
| 30 Days | $-0.00253 | -9.10% |
| 3 Months | $0.01143 | 82.85% |
24H Investment Barometer
24H
- Buy
- The Investment Barometer represents the current sentiment of the majority of KuCoin users. It is based on multiple indicators, and can be used as an aspect to take into consideration when planning investments.
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Flare Network Conversion Rate
FAQ
How much is 1 Flare Network (FLR) worth?
KuCoin provides real-time USD price updates for Flare Network (FLR). Flare Network price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time FLR to USD exchange rates. What Is FLR Token Used For?
Flare Network (FLR) is used for native payments, spam control, governance, and as collateral within applications. FLR is also required for incentivized delegation to the Flare Time Series Oracle (FTSO) to support the provision of reliable decentralized price data.
FLR can be used as collateral in third-party decentralized applications built on Flare blockchains (cross-chain or exclusively native) and for participating in network governance. Transaction fees are also paid in FLR to prevent spam attacks.
Is Flare Network (FLR) a Good Investment?
The interoperability, support for smart contracts, decentralized oracle, security, and governance features of the Flare Network make it an attractive investment opportunity compared to other crypto projects.
Interoperability
The Flare Network is designed to enable robust interoperability between various blockchains. This means that applications built on the Flare Network can interact with external blockchains, which can help expand the utility and use cases of the network.
Smart Contracts
The Flare Network supports the Ethereum Virtual Machine (EVM) and smart contracts, which can facilitate the development of dApps on the network. This can help increase the adoption and demand for FLR tokens.
Decentralized Oracle
The Flare Time Series Oracle (FTSO) is a decentralized oracle for time-series data, such as asset prices, data indices, etc. Oracles are an essential component of many blockchain applications, and the FTSO can help improve the accuracy and reliability of data within the Flare Network.
Security
The Flare Network uses the Avalanche consensus algorithm, designed for high security and resistance to attacks. This can help enhance the network’s overall security and reduce the risk of attacks or hacks.
Governance
FLR tokens are used for governing the Flare Network, which means that token holders have a say in how the network is operated and can propose and vote on changes to the network. This can promote a more decentralized and community-driven network.
What Is Flare Network Price Prediction?
In general, factors that can positively affect the price of the FLR coin include:
Adoption
As more people and businesses adopt the FLR cryptocurrency, demand for it increases, which can push up its price.
Utility
When a cryptocurrency has a unique and valuable feature, it can attract more users and investors.
Scarcity
When a cryptocurrency's supply is limited, it can create a shortage that can push its price.
Market Sentiment
The general sentiment in the market can impact crypto prices. Positive crypto news and sentiment can drive prices up, while negative news and sentiment can drive prices down.
Development Progress
The development of new features, improvements to the FLR network, and the project’s overall progress can all affect the perceived value of a cryptocurrency.
Can You Stake Flare Network (FLR) Crypto?
Flare Network (FLR) can be staked to generate passive income from crypto. FLR staking also allows users to participate in the Flare Time Series Oracle (FTSO), a decentralized oracle that provides reliable and transparent price data for various assets. By staking FLR, users can delegate their voting rights to the FTSO and receive rewards in return.
What Is the FLR Token’s Circulating Supply?
The Flare Network (FLR) circulating supply constantly changes as new tokens are created and distributed. As of May 2023, the total supply of FLR tokens is 100 billion, with approximately 28.5 billion FLR allocated for distribution to community members over 36 months.
It is important to note that the circulating supply of FLR can also be affected by staking and other activity on the network, so it is essential to monitor the supply over time.
What is the all-time high price of Flare Network (FLR)?
The all-time high price of Flare Network (FLR) is $0.07970. The current price of FLR is down 68.24% from its all-time high.
What is the all-time low price of Flare Network (FLR)?
The all-time low price of Flare Network (FLR) is $0.00826. The current price of FLR is up 206.30% from its all-time low.
How much Flare Network (FLR) is there in circulation?
As of 12 30, 2024, there is currently 55B FLR in circulation. FLR has a maximum supply of 100B.
What is the market cap of Flare Network (FLR)?
The current market cap of FLR is $1.35B. It is calculated by multiplying the current supply of FLR by its real-time market price of $1.35B.
How do I store Flare Network (FLR)?
You can securely store your Flare Network in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your FLR include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
How do I convert Worldcoin (WLD) to cash?
You can instantly exchange your Worldcoin (WLD) for cash using KuCoin's Fast Trade feature. This feature enables you to convert WLD to your local fiat currency in just a few clicks. However, make sure to complete Identity Verification first to enjoy all the features you may need.