Flare Networks, the company behind the FLR cryptocurrency, has seen its token price surge over 94% since the start of the year. According to X user Eunice D Wong (@Eunicedwong), this price breakout comes on the back of Flare’s recently announced partnership with tech giant Google.
Eunice D Wong’s Optimism
On January 15th, Wong tweeted that FLR had “broke out of resistance” and was up 94% since her entry price. She credited the newly unveiled Google partnership as the catalyst behind FLR’s rally:
“The news was big when they announced partnership with Google. Expecting higher grounds from here.”
Details on The Google Partnership
More details on the potentially transformative Google deal were shared in Flare Network’s January round-up newsletter, as highlighted by X user Flareboy Kim (@Lim1975Kim) on January 31st.
The newsletter revealed that Google Cloud was brought on board as one of over 100 supporting infrastructure providers. It also covered upcoming Flare events, such as the Flare [DEV] Meetup in Denver on February 28th and the ETH Oxford hackathon from March 8-11th.
Impact on FLR’s Market Value
The impact of the Google Cloud partnership on FLR’s valuation has been immediate. On February 2nd, X account Golden Fleece (@SharpRam) shared their excitement as FLR crossed the $1 billion market capitalization threshold for the first time:
“BAM! $FLR has broken the 1 Billion Dollar mark! up over 400% from the low last year patience is being rewarded all on #FLR now.”
With FLR setting new all-time highs and increased adoption through deals with the likes of Google, the outlook seems bright for Flare Networks’ native token in 2024.
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