- Flare Network inked a major deal with Ankr Protocol.
- The deal will give Flare’s developers access to Ankr tools.
- FLR and ANKR token prices continued their sell-off.
Flare, a fast-growing blockchain, has partnered with Ankr Protocol, the leading provider of remote procedure call (RPC) solutions to developers. The partnership will provide builders on Flare with additional tools to boost their productivity.
Ankr and Flare partnership
Further, they will benefit from the network’s advanced APIs with custom indexing that will help them reduce friction for first-time onboarding and querying onchain data. In a statement, Hugo Philion, the co-founder of Flare said:
“Flare’s partnership with Ankr means developers have access to premium RPC tooling from the blockchain industry’s leading node provider, in addition to the API Portal and Google Cloud infrastructure. The partnership underscores Flare’s commitment to provide developers with a flexible, robust and reliable stack to build and monitor their dApps.”
Flare is one of the many blockchains that is seeking to disrupt popular platforms like Ethereum, Solana, and Cardano. It is a layer-1 network with Ethereum Virtual Machine (EVM) compatibility features. One of its most useful features is that it has oracles built into structure, meaning that developers don’t need to use services like Chainlink, Band Protocol, and WinkLink.
Flare’s ecosystem is still small compared to its bigger rivals like Solana, Tron, and Ethereum. Data by DeFi Llama shows that the network has a TVL of just $25k compared with Ethereum’s $61 billion.
Ankr Protocol, on the other hand, is a leading player in the blockchain industry, where it provides infrastructure solutions. While RPCs are its most popular tools, it has other products like Ankr Scan, AppChains, and Liquid Staking. Its liquid staking products are used by popular players in the industry like Lido.
Flare price prediction
Flare crypto price reacted mildly to the partnership with Ankr Protocol. Unlike other coins like Bitcoin, Flare is trading near its all-time low, with the token being 63% below the highest point in April.
Flare has crashed below all moving averages while the trends in volume have continued falling. It has also moved below the important support at $0.014, the lowest level in June, signaling that there are more sellers in the market.
Therefore, the path of the least resistance for the coin is downwards, with the next level to watch being at$ $0.012.
Ankr price prediction
Like Flare, Ankr price has been in a downward trend in the past few days. It peaked at a high of $0.027 on July 5th, where it formed a long-legged doji pattern. The token’s volume has been a bit low while the price is below the 50-period moving average.
Therefore, Ankr Protocol price will likely continue falling as sellers target the next key support level at $0.022. A move below that level will see it fall to the next level at $0.021, the lowest level on June 30th.
