Crypto
Flare Price Spikes 4.75% Amid Record-Breaking FXRP Lending Demand
Flare's price surged 4.75% over the last 11 hours due to high demand for FXRP-backed lending against Ripple's RLUSD on Morpho, a major on-chain lending market.
The $7.13 million in RLUSD supplied and $6.35 million borrowed resulted in an 89% utilization rate of the RLUSD pool, directly linked to FLR's gains by several analysts.
This has added a 'serious DeFi' angle to FLR's use case, as FXRP is now accepted as collateral in a major on-chain lending market.
The shift in how FLR is perceived, framing it as core infrastructure for turning idle XRP into working capital, supports a repricing of FLR beyond short-term noise.