Rally

bullish

DeFi

Dogecoin

Flare

<p>The price of Flare (FLR) has surged by approximately 7% today, drawing attention from crypto enthusiasts as it outperforms many other cryptocurrencies that are experiencing declines. This uptick has sparked curiosity regarding the factors behind the token’s rise.</p>
<p><a href="https://x.com/Axel_bitblaze69/status/1841765682418954347" target="_blank" rel="noopener noreferrer nofollow">Axel Bitblaze (@Axel_bitblaze69)</a> noted, <em>“Right now L1s are outperforming L2s, and @FlareNetworks is one of those L1s which is quietly gaining momentum, with their TVL steadily increasing.”</em> He attributed part of this growth to Flare’s substantial $510 million DeFi emissions program.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="563" src="https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-1024x563.png" alt="" class="wp-image-561000" srcset="https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-1024x563.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-300x165.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-767x422.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-1536x845.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-2048x1126.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-273x150.png 273w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-100x55.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-636x350.png 636w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97-788x433.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/10/image-97.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>He encouraged users to get involved by bridging <a href="https://coinledger.io/learn/usdc-vs-usdt" target="_blank" rel="noopener noreferrer nofollow">USDT or USDC</a> via Stargate to access the DeFi dApps on the Flare network.<em> “More liquidity inflow leads to more TVL,”</em> he stated, emphasizing the opportunity while clarifying that his insights are speculative.</p>
<p>Axel further mentioned the possibility of an L0 Season 2 airdrop, contingent on activities through Stargate. He provided a step-by-step guide for participation:</p>
<ul class="wp-block-list">
 <li>Bridge USDT from any chain to the Flare network via @StargateFinance, receiving some $FLR for gas fees on your first transaction.</li>
 <li>Swap half of your USDT for either $WFLR or $USDC on platforms like @blazeswapdex or @SparkDexAI.</li>
 <li>Provide liquidity in pairs such as WFLR/USDT or USDT/USDC to take advantage of attractive APRs—around 34% for stablecoin pairs and 70% for USDT/WFLR</li>
</ul>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/is-this-a-good-time-to-buy-bitcoin-btc-dip-watch-ftm-sol-doge-and-these-altcoins-for-strong-recoveries/" target="_blank" rel="noopener noreferrer nofollow">Is This a Good Time to Buy Bitcoin (BTC) Dip? Watch FTM, SOL, DOGE, and These Altcoins for Strong Recoveries</a></em></strong></p>
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<p>He also suggested that participants could lend and borrow stablecoins on @Kinetic_Markets to enhance their liquidity provision strategy, depending on their risk tolerance. Axel concluded by highlighting the potential of Flare as a lesser-known L1, supported by significant funding and strategic partnerships.</p>
<h2 class="wp-block-heading" id="analyst-sees-a-possible-150-flr-price-spike">Analyst Sees a Possible 150% FLR Price Spike</h2>
<p><a href="https://x.com/cryptojack/status/1841780613407285706" target="_blank" rel="noopener noreferrer nofollow">CryptoJack, another analyst, </a>provided a technical perspective. He pointed out a clear support zone in the price chart, where FLR has consistently rebounded.</p>
<p>He identified a bullish engulfing candle forming at this support level, signaling a potential shift in momentum towards the bulls.</p>
<p><strong><em>Read Also: <a href="https://captainaltcoin.com/whats-next-for-ripple-following-sec-appeal-will-xrp-price-crash/" target="_blank" rel="noopener noreferrer nofollow">What’s Next for Ripple Following SEC Appeal? Will XRP Price Crash?</a></em></strong></p>
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</figure>
<p>CryptoJack projected that following this <a href="https://coinmarketcap.com/currencies/flare/" target="_blank" rel="noopener noreferrer nofollow">bullish pattern, FLR</a> could see a rally towards resistance levels between $0.035 and $0.04, representing a potential increase of 150% from its current price of around $0.016.</p>
<p>He noted that while the price has been in a prolonged downtrend since May, the recent bounce and bullish engulfing candle might indicate a trend reversal.</p>
<p>In summary, both analysts see strong potential for Flare as it gains traction in the market, driven by increased liquidity and positive technical indicators.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-flare-flr-price-pumping-analyst-sights-a-150-rally/" rel="noopener noreferrer nofollow">Why Is Flare (FLR) Price Pumping? Analyst Sights a +150% Rally</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is Flare (FLR) Price Pumping? Analyst Sights a +150% Rally

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