Coinbase Airdrops 601 Million Flare (FLR) Tokens To XRP Holders; What’s Next?

Flare Airdrop News: Coinbase, crypto exchange on Friday declared that it has completed the much anticipated Flare (FLR) tokens airdrop. It stated that more than 601 million FLR tokens have been distributed to eligible users (XRP holders). However, the Flare Token price hasn’t been affected much.

Also Read: Here’s Why Crypto Exchange OKX’s OKB Token Skyrocketing 20% Today

Coinbase Completes Flare Airdrop

As per the announcement, Coinbase has enabled the outbound transfers for Flare tokens on the platform. Earlier, it stated that the trading will begin if liquidity conditions will be met. However, FLR tokens have been listed under the experimental label for now.

It mentioned that under the experimental asset label, certain tradable crypto assets either new or with low trading volume orders are listed. However, Coinbase advised users to seek caution with these assets as they may come with several risks. This includes price swings and canceled orders linked with lower volume.

Coinbase highlighted that the Flare airdrop is based on the XRP balance presented on the exchange on December 12, 2020. However, the distribution ration will be 1.0073 Flare for every 1 XRP X 0.15.

However, Flare token prices haven’t been affected much after the Coinbase airdrop. FLR price dropped by around 3% in the last 24 hours. Flare is trading at an average price of $0.000410, at the press time.

Also Read: Do Kwon Knew About Terra Luna Collapse Beforehand; Here’s Proof