Ripple Ally Flare (FLR) up 20% Amid Rising Market Rout, Here’s Why

At a time when the majority of industry players are paring off the gains they have accrued over the past couple of days, Ripple’s top ally, Flare Network (FLR), is showing good signs of growth. At the time of writing, the digital currency is trading for $0.04097, up by 20.04% over the past 24 hours.

While its growth has been somewhat stunted in the past week, Flare has still been able to maintain a 32% upsurge within that time frame. The Flare Network has been seeing a lot of ecosystem growth trends, including the ongoing voting on a proposal that seeks to realign the smart contracts on its network as well as its canary protocol, Songbird.

The Flare ecosystem is also growing at a sporadic rate, with many new protocols making their emergence to help broaden the exact utility and reach of the protocol. One of these is SpendTheBits Inc, a Canadian digital currency wallet service provider.

In its recent update, SpendTheBits said it has officially initiated the proof of concept for integrating the STB app with Flare Network to bring more advanced Bitcoin payment modes to the market.

Flare Steady Growth Push

Flare is doing just the right things at the right time. Despite its connections with Ripple in its early stages, Flare Network is now charting its growth course in a very steady manner across the board.

Through highly targeted token airdrops, Flare is gradually working toward the distribution of its native digital currency so it can chart a whole new decentralized governance ecosystem. Flare Network is undoubtedly advancing in its core bid to build applications that are interoperable with blockchains and the internet.

With its price growth since it was formally launched a few months ago to its roadmap to sustain this growth, Flare is notably giving proof of why it deserves more attention from Web3.0 users.