Flare

    Flareflr#81

    By Twin · CoinHours Editorial · Coin profile maintained by CoinHours Editorial · Market data refreshes every 60s

    $0.006080

    +0.16% (24h)

    7d Change

    -0.45%

    30d Change

    -17.38%

    24h High

    $0.000000

    24h Low

    $0.000000

    Market Cap$533.18M
    24h Volume$2.06M
    Circulating Supply87689.1M FLR
    All-Time High$0.000000
    ATH Change+0.00%

    Price Chart

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    About Flare

    Flare is a layer-1 blockchain designed to enable smart contract functionality for tokens from networks without native smart contract capabilities, including XRP, Dogecoin, and Bitcoin. The network utilizes the Federated Byzantine Agreement consensus mechanism and incorporates the Ethereum Virtual Machine for contract compatibility. Flare's State Connector and FTSO (Flare Time Series Oracle) systems aim to provide decentralized data acquisition from external blockchains and real-world sources. The FLR token serves network security through validation and powers governance decisions.

    Primary use case: Interoperability-focused blockchain bringing smart contract capabilities to non-smart contract cryptocurrencies.

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    Understanding Flare Price Data

    The Flare price shown above is a volume-weighted average across major spot exchanges, sourced from CoinGecko and refreshed continuously throughout the trading day. Cryptocurrency markets trade twenty-four hours a day, seven days a week — there is no opening or closing bell — so the 24-hour change figure is a rolling window measured against the price exactly one day prior, not against a fixed daily close. The 7-day and 30-day percentage moves use the same rolling-window methodology, which means the figures shift continuously rather than resetting at midnight.

    Market capitalisation for Flare is calculated by multiplying the current price by the circulating supply — the number of FLR units currently in public hands and not locked, burned, or reserved by the protocol. This differs from total supply (all units that have ever been created) and max supply (the protocol-defined cap, where one exists). For assets with significant locked or vesting allocations, fully diluted valuation can be a more useful long-term measure than market cap alone. The 24-hour trading volume figure aggregates spot trading across reporting exchanges and excludes derivatives and over-the-counter activity, which can be substantially larger for major assets.

    All-time high (ATH) figures reflect the peak USD price ever recorded for Flare on a major exchange. The ATH change percentage shows how far the current price sits below — or above — that peak, and is one of several inputs the CoinHours Market Cycle Indicator uses when assessing where the broader market sits in its four-year halving cycle. For longer-term investors, ATH drawdown combined with 200-week moving average position and the Fear & Greed Index gives a clearer cycle picture than any single metric in isolation.

    Flare for Australian Investors

    In Australia, the Australian Taxation Office (ATO) treats Flare and other cryptocurrencies as capital gains tax (CGT) assets rather than as currency. Every disposal — selling for AUD, swapping for another crypto, spending on goods or services, or gifting — is a CGT event that must be reported in your tax return. Holding FLR for more than twelve months before disposing of it qualifies you for the 50% individual CGT discount, which is one of the most significant tax planning levers for long-term holders. See the crypto tax encyclopedia entry for a full breakdown of ATO record-keeping requirements, cost-base calculation methods, and the tax treatment of staking rewards, airdrops, and DeFi income.

    Australian investors typically buy Flare through a registered exchange that complies with AUSTRAC anti-money-laundering requirements. Once acquired, holdings can be left on the exchange (counterparty risk), moved to a software wallet (convenience with online attack surface), or transferred to a hardware wallet for cold-storage self-custody (highest security, least convenient). The CoinHours security guide walks through the trade-offs in detail, including seed-phrase storage, multi-signature setups, and inheritance planning. For background on the underlying technology, the Crypto Encyclopedia covers blockchain fundamentals, consensus mechanisms, and the Flare protocol in plain English.

    Flare FAQ

    What makes Flare different from other smart contract platforms?

    Flare specifically focuses on enabling smart contract functionality for cryptocurrencies that don't natively support it, like XRP and Bitcoin. Rather than creating another general-purpose smart contract platform, Flare acts as a bridge allowing these established cryptocurrencies to interact with decentralised applications through its State Connector and oracle systems.

    How does Flare's consensus mechanism work?

    Flare uses Federated Byzantine Agreement (FBA) consensus, where a network of validators reaches agreement through federated voting rather than energy-intensive mining. This system aims to provide faster transaction processing whilst maintaining security through distributed consensus among validator nodes that stake FLR tokens.

    What are the main use cases for FLR tokens?

    FLR tokens serve multiple functions within the Flare ecosystem: paying transaction fees, staking for network validation and security, participating in governance decisions, and potentially earning rewards through delegation to validators. The tokens are also used to secure the network's oracle systems that provide external data.

    How are FLR tokens taxed in Australia?

    Under ATO guidance, FLR tokens are treated as digital assets subject to capital gains tax when disposed of. The specific tax treatment depends on whether you hold tokens for personal use, investment, or trading purposes. Records of acquisition costs, dates, and disposal details are required for accurate tax reporting.

    What risks should investors consider with Flare?

    Key risks include validator consensus vulnerabilities, cross-chain technical complexity, smart contract bugs, oracle manipulation, and dependency on developer adoption. The project's success relies heavily on building applications that utilise its interoperability features, whilst competing with other cross-chain solutions in an evolving market.

    Can I use existing Ethereum tools with Flare?

    Yes, Flare incorporates the Ethereum Virtual Machine (EVM), allowing developers to use familiar Ethereum development tools, wallets, and programming languages like Solidity. This compatibility enables easier migration of existing Ethereum applications to Flare whilst accessing its unique cross-chain capabilities.

    Frequently Asked Questions

    How often is the Flare price updated?

    CoinHours pulls live FLR pricing from CoinGecko, which aggregates trades across major exchanges. The page refreshes the displayed figures every few minutes; the underlying market data updates continuously and may move significantly between refreshes during volatile sessions.

    Why does the Flare price differ between exchanges?

    Each exchange runs its own order book, so prices drift slightly based on local supply and demand, regional liquidity, and pair availability. The figure shown here is a weighted average designed to represent the broad market price rather than any single venue. Arbitrage typically keeps the differences small for major assets but can widen during fast moves or on smaller exchanges.

    Is buying Flare legal in Australia?

    Yes. Cryptocurrency is legal to buy, hold, and trade in Australia. Exchanges operating in Australia must register with AUSTRAC and comply with anti-money-laundering and counter-terrorism financing rules. The ATO treats crypto as property for tax purposes — see the Australian investors section above for tax implications.

    What is market cap and why does it matter?

    Market capitalisation equals current price multiplied by circulating supply and gives a rough measure of an asset's total value in public hands. It is a more meaningful comparison metric than price alone because two coins with identical prices can have radically different supplies. Market cap rank is one input investors use when assessing relative size, but it does not account for locked tokens, future emissions, or actual on-chain liquidity.

    Should I store Flare on an exchange or in a wallet?

    Exchange custody is convenient but exposes you to counterparty risk — exchange failures and hacks have wiped out customer balances historically. For amounts material to your finances, a hardware wallet under your own control is the standard recommendation. Read the security guide for a full comparison of custody options and seed-phrase best practices.

    Information on this page is general in nature and does not constitute financial, investment, or tax advice. Cryptocurrency prices are volatile and you can lose your entire investment. Consult a qualified Australian financial adviser and registered tax agent before making investment decisions.