FLR Rallies by 30% as Google Cloud Joins Flare Network as Validator

TL;DR

• Flare is one of the best performers amongst the top 100 cryptocurrencies by market cap today.

• The rally comes after Google Cloud joined the Flare Network as a validator.

FLR Rallies by 30%

FLR, the native coin of the Flare ecosystem, is the second-best performer amongst the top 100 cryptocurrencies by market cap. The token added 30% to its value over the last 24 hours, outperforming the broader crypto market.

At press time, the price of Flare stands at $0.02236 per coin. The rally comes after Google Cloud joined the Flare Network as a validator. Google Cloud has become one of 100 organizations that serve as validators and infrastructure providers on the Flare Network. It helps to secure the network as a validator and contribute to the Flare Time Series Oracle (FTSO).

Flare terms itself as “the blockchain for data” and is known for granting developers access to decentralized data via its Oracle system. Oracle are entities that connect networks to external systems, making it possible for smart contracts to be executed via inputs and outputs from the outside world.

Infrastructure providers on the Flare Network are also entities charged with providing high-quality data. This implies that they help developers build use cases for blockchain technology and further its adoption.

FLR’s rally comes as Bitcoin continues to trade around the $42k region. BTC’s price is up by less than 1% over the last 24 hours and is currently trading at $42,831 per coin.

The total cryptocurrency market cap currently stands at $1.69 trillion, also up by less than 1% over the past couple of hours.