FLR (Flare) rose 6.05% in the last 24 hours

Gate News Bot message, September 24, according to CoinMarketCap, as of the time of writing, FLR (Flare) is currently priced at 0.02 USD, having risen 6.05% in the last 24 hours, reaching a high of 0.03 USD and a low of 0.02 USD. The current market capitalization is approximately 1.852 billion USD, an increase of 106 million USD from yesterday.

Important recent news about FLR:

1️⃣ Native FLR listed on Hyperliquid Exchange The decentralized exchange Hyperliquid launched native FLR spot trading on September 18. This launch adopts the LayerZero Omnichain Fungible Token (OFT) standard and is implemented through the StarGate bridge. This initiative provides FLR holders with new trading channels and is expected to enhance FLR's liquidity and market depth.

2️⃣ Simplify user access process Users can now directly deposit native FLR tokens without the need for wrapping operations, thus saving on the gas costs for unwrapping. This optimization simplifies the deposit and withdrawal processes, lowers the operational threshold and transaction costs for users, and is beneficial for attracting more investors to participate in FLR trading.

3️⃣ Expand trading pairs and enhance execution efficiency Hyperliquid has deployed FLR as a HIP-1 asset on HyperCore and registered the FLR/USDC trading pair. Future plans include expanding to stablecoin pairs such as USDT and USDH, which will provide more trading options for FLR. At the same time, the on-chain order book matching mechanism is expected to bring smaller spreads and lower implicit costs, improving the execution efficiency of on-chain transactions.

The launch of FLR on the new trading platform and the resulting increase in liquidity may be one of the important driving factors for the recent price rise. However, the cryptocurrency market is highly volatile, and investors still need to carefully assess the risks.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.