Karla Barker 
Flare Network led altcoin gains on May 15, rising 14% as Bitcoin struggled below its 200-day moving average. The network activated the FAssets v1.3 upgrade on its mainnet, which allows XRP holders to mint the DeFi-ready FXRP token in a single transaction using native destination tags. This upgrade removes the multi-step friction that had previously limited adoption, enabling minting directly from major centralized exchanges like Binance and Kraken as a simple withdrawal.
The broader altcoin market also saw strong performances. Hyperliquid’s HYPE token led all 24-hour gains at 16%, driven by Bitwise’s launch of a spot Hyperliquid ETF and Coinbase’s new role as the protocol’s official USDC treasury deployer. Unibase’s UB token added 11%, continuing its May momentum after the launch of its ERC-8183 Agent Service Market on May 7. Total cumulative crypto futures volume rose 14% to $220 billion over 24 hours.
Bitcoin remains capped by its 200-day average
Bitcoin stayed below its 200-day simple moving average near $82,228 throughout the session, trading around $80,592. A brief push above $82,000 followed the Senate Banking Committee’s 15-9 Clarity Act approval on Thursday, but macro pressure from hotter-than-expected inflation data and the $2.6 billion options expiry reversed those gains by Friday.
Flare’s broader tokenomics overhaul
As crypto.news reported, Flare has been executing a broader tokenomics overhaul under FIP.16, cutting annual FLR inflation by 40% to 3% and introducing protocol-level MEV capture. This structural shift is designed to link network usage directly to token value, providing a bullish case for FLR independent of broader market conditions.
Historical patterns suggest potential volume growth
As crypto.news noted when FLR printed a similar catalyst-driven rally in April 2025, upgrades that lower friction for XRP capital entering the Flare ecosystem have historically preceded sustained volume growth in the days following the launch. The FAssets v1.3 upgrade, with its simplified minting process, could follow a similar pattern if user adoption picks up. However, broader market conditions and Bitcoin’s performance will likely influence how much of that potential is realized.