The $0.00725 local resistance zone was breached and there is potential for the price uptick to extend another 16% to 25%.
Flare prices have dropped just over 8% - how much deeper will the correction go?
Flare Network gained 14% on May 15 as altcoins outpaced Bitcoin stuck below its 200-day moving average. Flare Network activated the FAssets v1.
Flare's FIP.16 plan would capture MEV at the base layer, slash FLR inflation to 3% and route new revenues through FIRE into buybacks and aggressive token burns.
Flare proposes FLR tokenomics overhaul with MEV capture, lower inflation, and new FIRE revenue framework for ecosystem growth.
Flare published a governance proposal to capture maximum extractable value (MEV) at the protocol level and redirect it back into its own ecosystem. The proposal creates the FIRE entity to channel MEV and other revenue sources toward buybacks and burns of the FLR token on the open market.